Reliance Consumer Products to bring Finnish Fazer's chocolates to India
Reliance Consumer Products signed a Memorandum of Understanding (MoU) with Finland’s company Fazer, the FMCG arm of Reliance Industries announced on Friday. Under the partnership, Reliance will produce, market, and distribute branded premium chocolates using Fazer’s recipes and high-quality standards in India.
"As part of this evolution, the two companies will establish a long-term strategic partnership in India to produce, market, and distribute branded premium chocolates using Fazer’s recipes and high-quality standards nationwide," Reliance Consumer Products Limited (RCPL) said.
Fazer is a leading FMCG company in Northern Europe, and is known for its high-quality confectionery, bakery and plant-based products.
Mukesh Ambani-owned Reliance Industries said that the two companies could have the potential to build a unique position in India’s chocolate and confectionery market, which is expected to grow rapidly due to rising consumer incomes and organised retail penetration.
The partnership would combine Fazer’s heritage brands, innovative product portfolio, and one of the world’s finest chocolates, with RCPL’s substantial scale and access to nearly 3 million retail outlets across India, as well as deep expertise in the Indian retail market.
“Partnering with Fazer is a strategic step towards introducing one of the world’s finest chocolates to Indian consumers. This will also accelerate RCPL’s growth in chocolates & confectionary market," T. Krishnakumar, Director, Reliance Consumer Products Limited, said.
The agreement was signed as part of the President of Finland Excellency Alexander Stubb’s state visit to India, with aim to strengthen business ties between India & Finland.
“This partnership would be a great opportunity for Fazer to offer our unique products to the fast-growing Indian market. With RCPL handling commercialisation and distribution in India, we could establish a premium position in the chocolate market and a foundation for a broader scale nation-wide roll-out with a leading and highly capable local partner," Christoph Vitzthum, President and CEO, Fazer, said.
The company eyes the potential to accelerate its international growth significantly by entering the sizable Indian chocolate market through this strategic partnership.
Fazer currently runs operations in the Nordics and Baltics, Poland and China, alongside exports to more than 40 countries worldwide. The Finnish chocolate brand is actively pursuing opportunities to expand not only organically but also through M&A and is committed to exploring all avenues that enable the company to strengthen its position in both existing and new markets.
"As part of this evolution, the two companies will establish a long-term strategic partnership in India to produce, market, and distribute branded premium chocolates using Fazer’s recipes and high-quality standards nationwide," Reliance Consumer Products Limited (RCPL) said.
Fazer is a leading FMCG company in Northern Europe, and is known for its high-quality confectionery, bakery and plant-based products.
Mukesh Ambani-owned Reliance Industries said that the two companies could have the potential to build a unique position in India’s chocolate and confectionery market, which is expected to grow rapidly due to rising consumer incomes and organised retail penetration.
The partnership would combine Fazer’s heritage brands, innovative product portfolio, and one of the world’s finest chocolates, with RCPL’s substantial scale and access to nearly 3 million retail outlets across India, as well as deep expertise in the Indian retail market.
“Partnering with Fazer is a strategic step towards introducing one of the world’s finest chocolates to Indian consumers. This will also accelerate RCPL’s growth in chocolates & confectionary market," T. Krishnakumar, Director, Reliance Consumer Products Limited, said.
The agreement was signed as part of the President of Finland Excellency Alexander Stubb’s state visit to India, with aim to strengthen business ties between India & Finland.
“This partnership would be a great opportunity for Fazer to offer our unique products to the fast-growing Indian market. With RCPL handling commercialisation and distribution in India, we could establish a premium position in the chocolate market and a foundation for a broader scale nation-wide roll-out with a leading and highly capable local partner," Christoph Vitzthum, President and CEO, Fazer, said.
The company eyes the potential to accelerate its international growth significantly by entering the sizable Indian chocolate market through this strategic partnership.
Fazer currently runs operations in the Nordics and Baltics, Poland and China, alongside exports to more than 40 countries worldwide. The Finnish chocolate brand is actively pursuing opportunities to expand not only organically but also through M&A and is committed to exploring all avenues that enable the company to strengthen its position in both existing and new markets.
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