Latest News | Mars Wrigley Enters Fast-growing Luxury Gifting Market, Launches Galaxy Jewels in India
Get latest articles and stories on Latest News at LatestLY. Leading confectionery major Mars Wrigley India has entered the fast-growing luxury gifting market with the launch of its chocolate brand Galaxy Jewels in the country.
New Delhi, Jul 24 (PTI) Leading confectionery major Mars Wrigley India has entered the fast-growing luxury gifting market with the launch of its chocolate brand Galaxy Jewels in the country.
The company eyes a significant share of the Indian gifting market, which is around Rs 1,000 crore through Galaxy Jewels, said Mars Wrigley India Chief Marketing Officer Nikhil Rao.
"In this, the mass part is growing only at about 3% and the premium part is growing at 20%, where we are going there. It's less crowded and is a proven bundle," Rao told PTI.
The company already has Galaxy Jewels in markets such as the Middle East and Africa where it has got about 50 per cent market share.
"It has really become strong over the last 20 years. So it's a proven bundle," he said.
Most of the chocolate gifting in India is centred around Diwali, Raksha Bandhan and Valentine's Day.
"So we will be focusing on these three big festivals, while we are going to sell this round the year also," he said.
The company would leverage its existing sales channels for Galaxy Jewels.
"So in traditional trade, we will go live to the top end, the standalone supermarkets, the big food stores and grocery stores. We will go to all modern trade and will use E-commerce," Rao added.
Mars Wrigley India, which operates with brands such as Snickers and Boomer - has also launched a TVC that highlights the premium nature of Galaxy Jewels.
(This is an unedited and auto-generated story from Syndicated News feed, LatestLY Staff may not have modified or edited the content body)