Barry Callebaut enters attractive Indian chocolate market - Barry Callebaut to open sales office & Chocolate Academy in Mumbai, India
Barry Callebaut to open a sales office in Mumbai, India in September, 2007
New Barry Callebaut Chocolate Academy in Mumbai to be first such teaching and training center for artisans and professionals in India
Entry into Indian chocolate market in line with company strategy to expand its geographic reach to capture growth opportunities in fast-growing emerging markets
Zurich/Switzerland, July 13, 2007 – Barry Callebaut, the world’s leading manufacturer of high-quality cocoa and chocolate products, will enter the fast-growing Indian chocolate market by opening a sales office in Mumbai in September 2007. The company will also inaugurate a new Chocolate Academy in India’s largest city in December, where Indian confectioners can enhance their chocolate skills through courses and practical workshops. The entry into the Indian market will allow Barry Callebaut to capture the promising growth potential in the region’s chocolate market and is in line with its strategy to expand its presence in fast-growing emerging markets.
Maurizio Decio, Barry Callebaut’s Vice President Asia Pacific, said: “The new sales office in Mumbai will allow us to better serve our rapidly expanding customer base in India. We are following our large multinational customers into this promising emerging market. We will also supply national food manufacturers as well as many four-and five-star hotels and bakery chains in urban centers. The sheer size of the Indian population and the growing economic power of the region mean that the growth potential of the region’s chocolate market is substantial. The move to establish a presence in India is in line with our strategy to increase the share of sales generated in regions outside Western Europe and North America from 11% to 20% by 2010.”
According to the international market intelligence provider Euromonitor, the Indian chocolate market is expected to grow on average by around 10 percent per year between 2006 and 2011. Currently, the Indian market is still relatively small with volumes of 45,000 metric tonnes of chocolate and compound per year.
The new Barry Callebaut Chocolate Academy will open in December 2007 and will be Barry Callebaut’s 8th such teaching and training center worldwide.
for investors and financial analysts:
for the media:
Gaby Tschofen, VP Corp.Communications
Barry Callebaut AG
Phone: +41 43 204 04 60