Lotte Well Food expands Choco Pie factory in India as local sales soar - South Korean report

Lotte Well Food (formerly Lotte Confectionery) announced on the 10th that it has invested approximately 30 billion won (approximately 3.3 billion yen) to expand the Chennai factory of its Indian subsidiary Lotte India.
announced that its third production line has started operating. In response to rapidly increasing sales of Choco Pie in India, the company decided to build a new production line at its Chennai factory. Last year, two existing production lines
The average occupancy rate was over 104%. With this expansion, the annual production capacity of Choco Pie in India will increase by more than 1.5 times. Once the new production line is fully operational,
This will add approximately 400 million bags of annual production capacity. This year, the company has set a sales target for Choco Pie in India of 80 billion won (approximately 8,831,080,000 yen), an increase of more than 20% from last year.
are doing. Lotte Well Food products have an 80% share of the Choco Pie market there. Lotte India's sales last year were 92.9 billion won (approximately 10.25 billion won).
10,000 yen), an increase of 31% from the previous year. Sales of the company's "Choco Pie" ranged from approximately 50 billion won (approximately 5,519.43 million yen) in 2021 to 65 billion won (approximately 7,173.61 million yen) last year.
) is rapidly growing.