Sunday, May 19, 2024

Vadilal eyes Rs. 800 crore in ice cream sales this year

As Covid-19 vaccination gathers pace and economic activity and spending pick up, iconic ice cream brand Vadilal is eyeing more than 20% growth in ice cream sales from the pre-pandemic levels.

Vadilal had reported ice cream sales of Rs. 650 crore in 2019-20, the year before the pandemic struck; and is expecting to touch Rs. 800 crore this financial year.

“Like all other businesses, ice cream sales were also impacted last year because of the Covid-19 pandemic. However, we have seen a sharp uptick in ice cream consumption in recent months as consumers are indulging in ice creams more than ever.

The ice cream industry in India is growing at a CAGR of 14% and from Rs. 20,000 crore at present, is seen touching Rs. 40,000 crore by 2025.

Speaking about the Waah! Vadilal ! the campaign, Aakanksha, the third generation of Vadilal promoter Gandhi family, said, it is aimed to make people fall in love with the iconic ice cream brand once again.

The campaign raises awareness of the premium line-up targeting the younger generation to build lifelong memories with the brand, which has a 16% market share.

Aakanksha said Vadilal’s export turnover of ice cream and processed frozen foods touched Rs. 250 crore in 2020-21, and is expected to cross the Rs. 400 crore mark this financial year.

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