Reliance Consumer inks MoU with Finnish food major Fazer
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Reliance Consumer Products Limited (RCPL), the FMCG arm of Reliance Industries Limited , has signed a Memorandum of Understanding (MoU) with Finland’s leading foods company Fazer. As part of this evolution, the two companies will establish a long-term strategic partnership in India to produce, market, and distribute branded premium chocolates using Fazer’s recipes and high-quality standards nationwide.
How will the partnership bring iconic Finnish brands to India?
The MoU was signed as part of the President of Finland Alexander Stubb’s state visit to India, with aim to strengthen business ties between India & Finland and at the same time democratise Fazer’s iconic brands and products in the local market.
The partnership would combine Fazer’s iconic heritage brands, innovative product portfolio, and 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. 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 organised retail penetration.
T. Krishnakumar, Director, Reliance Consumer Products Limited, said, “Partnering with Fazer is a strategic step towards introducing one of the world’s finest chocolates to Indian consumers. This will also accelerate RCPL’s growth in chocolates & confectionary market. 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.”
Christoph Vitzthum, President and CEO, Fazer, said, “This partnership would be a great opportunity for Fazer to offer our unique products to the fast-growing Indian market. With RCPL handling commercialisation and distribution in India we could establish a premium position in the chocolate market and a foundation for a broader scale nation-wide roll-out with a leading and highly capable local partner. Entering the sizable Indian chocolate market through this strategic partnership, could have the potential to accelerate our international growth significantly.”
Since its inception in 2022, RCPL has successfully expanded its presence in the chocolate & confectionary market by reviving India’s heritage brands like Ravalgaon, Toffeeman and Pan Pasand, and Lotus Chocolates. RCPL is committed to offering ‘global quality at affordable price’ and has introduced some of the popular global brands like Maliban, Nexba and PACE, among others, to the Indian consumers.
Fazer has a focused growth strategy with continuous expansion and significant international growth targets at its core. With operations in the Nordics and Baltics, Poland, and China as well as with exports to more than 40 countries worldwide, Fazer already has an established global presence. Continuing its international growth journey, Fazer is actively pursuing opportunities to expand not only organically but also through M&A and remains committed to exploring all avenues that enable the company to strengthen its position in both existing and new markets.