Mars Wrigley India has entered the fast-growing luxury gifting segment in the country with its Galaxy Jewels chocolate brand.
With Galaxy Jewels, Nikhil Rao, Chief Marketing Officer, Mars Wrigley India, expressed hope to corner a significant share of the Indian gifting market, pegged at around Rs 1,000 crore.
Rao said though the mass market segment is seeing growth of a mere 3 per cent, the premium segment with which Galaxy Jewels is aligning is showing strong growth of 20 per cent. "It's less crowded and it's a proven bundle," Rao told PTI.
The Galaxy Jewels has already built a strong presence in the Middle East and African markets, where it holds about 50 percent of the market share. Rao stressed that this was shown during the two last decades.
In India, the trend for gifting chocolates is more for festivals such as 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," Rao added.
The company will use its regular channels for marketing the Galaxy Jewels. It consists of high-end stand alone supermarkets, major food and grocery stores and modern trade and e-commerce platforms.
Mars Wrigley India, known for brands like Snickers and Boomer, has rolled out a television commercial emphasizing the premium quality of Galaxy Jewels.
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