Chocolate maker Mars sees India as a key accelerate market

US-based chocolate maker Mars sees India as a key ‘accelerate’ market and is ramping up its distribution network in the country to tap the high growth potential, a senior company official said.

According to a report: The company, which has brands such as Snickers, Mars, Bounty, M&M, Double Mint, Boomer, Orbit, Galaxy and Twix in India, also plans to introduce one more brand in the next six to eight weeks to enhance its presence here.

“India is a key ‘accelerate’ market in Mars Wrigley Confectionery Asia, Australia, Middle East and Africa (AMEA),” Andrew Leakey, Mars Wrigley Confectionery General Manager – India said.

The company is investing to strengthen its distribution network and is building a sustainable supply chain here to expand its reach beyond metros and some key cities. The company has stronger growth ambitions and is taking a long-term view on the Indian market, he said.

Presently, Mars Wrigley products are distributed through around 3,00,000 outlets and it is eyeing to take the number to over 5,00,000.

“With our continued focus on growth in the India market through our expanding distribution network, flexibility to scale as per demand, ongoing efforts to build sustainable supply chain and strong market potential, we anticipate one-fourth of our growth contribution for AMEA region, coming from India, over the next few years,” he further said.

However, he declined to share revenue or other financial details.

Last year, Mars Inc integrated its Mars Chocolate and Wrigley segments in India, creating Mars Wrigley Confectionery (MWC) to tap high growth potential here.

“We are taking a long term view over the business in India and the company is less concerned about the immediate paybacks,” he was quoted as saying.