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Cadbury forays into bubble gum market

Confectionary major Cadbury India forayed into the Rs 180 crore domestic bubble-gum market with an eye to grab 10 per cent of it in next 18-24 months.

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MUMBAI: Confectionary major Cadbury India on Wednesday forayed into the Rs 180 crore domestic bubble-gum market with an eye to grab 10 per cent of it in next 18-24 months.

"We want to grab 10 per cent of the Indian bubble-gum market, which is growing by 20 per cent each year, in the next 18-24 months," Cadbury India's Managing Director Anand Kripalu told reporters after launching 'Bubbaloo' here.

Bubbaloo is sold in 25 countries and is a dominant bubble-gum brand worldwide, he said.

Kripalu expects the bubble-gum segment would contribute five per cent of the company's total revenue over next 3-5 years.

Cadbury India recorded a turnover of Rs 1,058 crore last fiscal and its business was moving up by 20 per cent each year, he said.

The company has set-up a separate line at its Bangalore facility to manufacture bubble gums with an investment of Rs 20 crore, Kripalu said.

Cadbury India's Marketing Director Sanjay Purohit said the company would spend around 30-35 per cent of the sales value to establish the brand through advertisements.

The company would distribute the product through mass market network across the country and roll out the product in the next 2-3 weeks.

Kripalu said Cadbury India would bring in more products from the parent company over a period of time, the launch of Bubbaloo was only the beginning.

 

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