New Delhi, March 6 Reliance Consumer Products Ltd (RCPL), the FMCG arm of Reliance Industries, said on Friday that it has signed an agreement with Finland's leading food company Fazer to produce, market, and distribute branded premium chocolates in the Indian market.
Both entities have signed a Memorandum of Understanding (MoU) to this effect, which will leverage Fazer's globally trusted brands and manufacturing excellence with RCPL's local production capabilities and robust distribution network.
The MoU was signed as part of Finland's President Alexander Stubb's state visit to India. This is part of efforts to strengthen business ties between India & Finland and at the same time democratize Fazer's iconic brands and products in the local market, according to a joint statement.
The partnership would combine Fazer's iconic heritage brands, innovative product portfolio, and the world's finest chocolates, with RCPL's substantial scale and access to nearly 3 million retail outlets across India, as well as deep expertise in the Indian market, the statement added.
"By combining Fazer's globally trusted brands and manufacturing excellence with RCPL's local production capabilities, robust distribution network, and deep consumer insights, we are well-positioned to bring world-class products to Indian consumers and elevate the overall category experience," said RCPL Director T Krishnakumar.
Together, the companies could have the potential to build a unique position in India's chocolate and confectionery market, which is expected to grow rapidly due to rising consumer incomes and organized retail penetration.
"With RCPL handling commercialization and distribution in India, we could establish a premium position in the chocolate market and a foundation for a broader scale nationwide rollout with a leading and highly capable local partner," said Christoph Vitzthum, President and CEO, Fazer.
Since its inception in 2022, RCPL has successfully expanded its presence in the chocolate & confectionery market by reviving India's heritage brands like Ravalgaon, Toffeeman and Pan Pasand, and Lotus Chocolates.
RCPL has introduced some of the popular global brands like Maliban, Nexba and PACE, among others, to the Indian consumers.
Fazer, with operations in the Nordics and Baltics, Poland and China, as well as with exports to more than 40 countries worldwide, already has an established global presence.
