After strengthening its presence in northern, central and southern regions of the country, Creambell, the brand that isamong the top five ice-cream producers of the country has decided to focus on Gujarat and build up its presence in the state.
“In the first phase, our focus is on Ahmedabad where we have already made an entry last month. It is the key ice-cream market of Gujarat and our products have been receiving good response ever since we entered in Ahmedabad,” said Nitin Arora, CEO, Creambell.
In the second phase, we hope to expand our presence in Vadodara, Rajkot and Surat and then the rest of Gujarat, added Arora.
Creambell was established by RJ Corporation in 2003. It is among the top five ice-cream producers of the country with a 15 per cent market share.
“The ice-cream market in India is estimated at Rs 3,500 crore and Gujarat is expected to be the largest market and that is why we would be focusing on the state for next five years for consolidating our base,” acknowledged Arora.
Currently, Creambell has a presence in over 70 per cent of the overall ice-cream retail segment and over 10,000 push carts across India. Further, the company is planning to set up one more plant for meeting the increasing demand of its products in the country.
“We are aiming for an increased overall market share of 18 per cent and for this, the company has earmarked investments of Rs 275 crores over next three years in capacity expansion, research and development and market activations,” revealed Arora. He did not rule out the possibility of entering capital market to raise funds through IPO.
“The unseasonal rain which recently lashed several parts of the country has affected the ice-cream market to some extent and at the same time, it has given us an opportunity to build up buffer stock of ice-creams. We hope that the demand for ice-creams will go up after a week as the mercury has started soaring,” said Arora.