Lotus Bakeries expects India to be among top markets for Biscoff, partners with Mondelēz

New Delhi, Nov 13 (PTI) Belgian multinational snack food company Lotus Bakeries, which on Thursday launched its Biscoff cookie here in partnership with Mondelēz, expects India to be among its top markets in the coming years, said its CEO Jan Boone.

As per the partnership, Mondelēz has the right to manufacture Biscoff locally in India and then market, distribute and sell, which will help it to significantly expand its presence in the premium cookie segment here, in which it leads with its own brand Oreo.

Last year on June 13, Mondelēz International and Lotus Bakeries had announced a strategic partnership to expand and grow the Biscoff cookie brand in India, and to develop new chocolate products combining Biscoff with Mondelēz's Cadbury, Milka and other key chocolate brands in Europe.

Lotus Bakeries CEO, in a virtual media roundtable, said, "Hopefully, India will become one of the top three, top four countries (markets) for Biscoff".

Biscoff is sold in over 80 countries around the globe, with the US being the leading market, followed by the UK and France, he said. It contributes more than half of Lotus Bakeries' total turnover.

"We have set our ambition to become number three (cookies) in the world," said Boone, acknowledging Mondelēz Oreo leadership in the global market in the segment. "We would not dare to say that we want to become the number one, but number three behind two Mondelez brands (Oreo and Chips Ahoy!)" Highlighting the importance of the Indian market, he said: "If you want to become a global brand, India has to be part of it." However, Boone also acknowledged the challenges of India, which has "so many retail stores and the distribution system is very, very complex".

"And we could not conquer India on our own. We needed a very strong partner," he said, adding, "We needed a partner like Mondelēz to really conquer India and to create a brand in India." While replying to a PTI query on Mondelēz's India strategy for Biscoff here, its President Samir Jain said that it will complement the Oreo portfolio. The go-to-market strategy will be similar to Oreo, as it will be launched in low-value packs (starting at Rs 10) along with large packs, across all channels, including traditional trade, modern trade and quick commerce.

Being a premium brand, Mondelēz will also activate the brand across top-end stores.

"I would not say that there is a very unique strategy in terms of being very different from Oreo," he said, adding, "but Oreo obviously has been there in the country for the last 13 to 14 years. Biscoff being a new one, we will be looking at the build across urban India a lot more for the next couple of years." According to Sameer, the ambition is to make Biscoff a premium cookie of choice for the Indian consumers, and he believes the market is ripe for that.

Biscoff launch will also include partnerships with leading hotel chains, airlines, and coffee houses to serve this timeless cookie alongside the consumer's favourite hot beverage.

According to an IBEF report, the expected revenue of the biscuit, cookies and crackers market is of Rs 1.16 lakh crore (USD 13.58 billion) in 2025 and forecast to register a 6.8 per cent compound annual growth rate (CAGR), reaching around Rs 1.64 lakh crore (USD 18.87 billion) by 2030. PTI KRH KRH SHW SHW