Reliance Consumer to bring Finland’s Fazer in India

Mumbai: Reliance Consumer Products (RCPL) will bring Finland’s food brand Fazer in India to expand its play in the chocolate and confectionery market, stepping up competition against companies such as Mondelez, ITC and Amul.

As part of the deal, RCPL will commercialise and distribute the brand’s chocolates in India. The Finnish company’s portfolio of chocolates include its flagship brand Karl Fazer, Dumle, Tutti Frutti and Geisha. “Together, the 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,” RCPL and Fazer which signed a memorandum of understanding (MoU) said in a joint statement.

Fazer is understood to have a premium positioning but its pricing for the India market has not yet been decided upon, said people in the know. RCPL’s strategy to take on rivals has been affordable pricing. The company has been buying and reviving several local heritage brands and building its product portfolio largely through acquisitions.

Alongside local brands Ravalgaon, Toffeeman, Pan Pasand, and Lotus Chocolates. RCPL has also introduced global brands such as Maliban, Nexba and PACE in the confectionery space.