Cocoberry to spend Rs 10 cr on marketing in India; plans to go international
Cocoberry, the flavoured frozen yogurt chain in India, is completing two years of its operations and is now bullish on expanding the first-of-its kind business in India as well as abroad. In conversation with exchange4media, GS Bhalla, Founder and CEO, Cocoberry, shares why he chose to introduce a new concept of this kind in the Indian market and the company’s marketing plans ahead.
It was in February 2009 that Cocoberry launched its frozen yogurt form of dessert, touted as a healthy and tasty option to otherwise rich ice-creams, and since then, there has been no looking back. Bhalla shared, “I was always interested in starting something which would be a pioneer in that particular market segment. After a detailed market intelligence survey, I was convinced that there was a huge scope for frozen yogurt in India and decided to introduce Cocoberry. It was observed that although frozen yogurt is not new to the food world, however, it has been gaining substantial importance as a healthy and yummy treat. The survey also showed that there was a substantial rise in interest and acceptance of frozen yogurt in India. We plan to grow Cocoberry to a full health and wellness food and beverage brand in the coming years.”
As per the company’s records, Tata Strategic Management Group’s Health and Wellness Foods study has estimated the size of the Indian health and wellness food market to be at Rs 55,000 crore by 2015, with a growth of 35-37 per cent per annum; currently it stands at Rs 10,150 crore annually. On the factors that had triggered the growth of the yogurt brand, Bhalla said, “Since, the rollout of our brand, we have experienced increase in both mind as well as market share. I believe the growing interest and acceptance of frozen yogurt as a healthy option have been driving the growth. In addition, our quality offerings and service are also the key factors that are driving the growth of our brand in particular and overall, frozen yogurt market in general.” He further said that the phenomenal growth in the retail space had also played an important role in the growth of Cocoberry.
Further disclosing the company’s marketing plans for the coming year, Bhalla stated, “We would be using multi-media platform in the year 2011. We would initiate our print, television, radio and outdoor campaigns by the middle of next year and continue to focus on our ongoing social and digital media campaigns, which have worked effectively for the brand. PR will continue to play an important role for the development of the brand.”
“At present, we have planned to invest Rs 2-3 crore in the Indian market, which we expect to increase by 400 per cent to Rs 10 crore next year,’ he added.
Cocoberry has decided to handle the creatives internally and is working towards creating a robust team that is well equipped and skilled to manage the duties. The advertising plan for the same is set to be launched by the middle of 2011.
On digital media, Bhalla said, “Apart from traditional media like print and television, we as a brand have experienced tremendous traction from the social media platform. Social media platforms like Facebook have helped us gain tremendous mindshare. In a very short span of time, we have more than 70,000 fans on Facebook alone and that is a substantial number.”
The company has earmarked an investment close to Rs 120 crore for expansion in the next three years. Very soon the company is planning to introduce a wide array of its probiotic offerings as well. It has set a target to grow to about 100-150 outlets over the next two years. The frozen yogurt chain is also exploring options to expand its operations in the international market and is in advanced stages of finalising the locations in some South East Asian countries as well as in the Middle East.
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