Confectionery maker Perfetti Van Melle, which sells candies like 'Alpenliebe' and 'Center Fresh', on Thursday said it is entering into the snacks market in India, which is currently dominated by players like PepsiCo, Parle Agro and Haldirams.
Perfetti Van Melle, which does not have presence in the snacks category globally, is for the first time testing the segment with plans to launch its brand 'Stop Not' in India that will compete with the likes of Kurkure from PepsiCo and Parle Agro's Hippo.
"We continuously look for new opportunities. Food is a growing category in India and we would like to tap this market to expand our business," Perfetti Van India Managing Director Sameer Suneja said.
According to Suneja, the Indian salty snacks market stands at around Rs 6,000 crore (Rs 60 billion) with Pepsico's Kukure, Lays and Parle Agro's Hippo among others.
Perfetti Van Melle will launch 'Stop Not' in a phase manner starting with states - Punjab and Haryana before getting into more states in the latter part of the year.
At present, the product is available in around 1200-1500 outlets.
"Our strategy is to launch the product in a phased manner. We are targeting both urban and small towns. At present, we want to get the feedback of the product," he said.
The product, which is available in two variants, has been made specially for the Indian market and will be sold at price points of Rs 5 and Rs 10.
The company achieved sales of Rs 1,200 crore (Rs 12 billion) last year.
