THe revenue for Mondelez International in India has become double during the quarter through September. This is due to new launches and innovations that also boosted the company’s market share in the chocolate segment.
Chief executive Irene Rosenfeld pointed out that the introduction of the Fuse and Silk Oreo helped it expand the market share in the chocolate sector in India.
Mondelez had taken a hit with sales growth dropping to a mid-single digit in the previous year in India. This was primiarily due to destocking by dealers ahead of the July 1 launch of goods and services tax. At the time, Mondelez had predicted sales to pick up in the second half of the calendar year.
As a market, India contributes just about 4% to Mondelez’s global sales, but is increasingly becoming an important one for sales and as a production hub.