PUNE, INDIA – Lotte Wellfood, the South Korean confectionery giant, has officially opened its new state-of-the-art manufacturing plant in Pune, Maharashtra, India. The move underscores Lotte’s commitment to expanding its presence in the rapidly growing Indian market. Lotte Group Chairman Shin Dong-bin, Maharashtra Chief Minister Devendra Fadnavis, Lotte Group Vice President Shin Yoo-yeol, and Lotte Wellfood CEO Lee Chang-yeop were all in attendance at Thursday’s inauguration ceremony.

“Since acquiring Havmor and entering the Indian ice cream market, Lotte has experienced significant growth alongside India’s booming economy,” Chairman Shin stated during his address. “This new facility marks a significant milestone for Lotte’s global food business. We are dedicated to providing the best products and establishing Havmor as India’s most beloved brand.”

The Pune plant, Lotte Wellfood’s first new manufacturing facility since the 2017 Havmor acquisition, spans an impressive 60,000 square meters – equivalent to eight football fields and six times larger than Havmor’s existing Gujarat plant. Equipped with cutting-edge Korean production technologies, including automated systems, the plant is poised to significantly boost production efficiency. Starting with nine production lines, Lotte Wellfood plans to expand to 16 lines by 2028 and anticipates a 15% year-on-year increase in ice cream sales this year.

Strategically located in Pune, the plant will initially serve western and southern India, capitalizing on its proximity to ingredient suppliers for cost savings. It will also allow Havmor to introduce more Lotte Wellfood products to Indian consumers. Beyond the existing production of Lotte’s World Cone at the Gujarat plant, the Pune facility will begin manufacturing several Lotte ice creams, including the popular Crispy Crunch Ice Bar (Piggy Bar).

Lotte’s expansion in India, which began in 2004, reflects its ambition to tap into the vast potential of the world’s most populous market. With its subsidiaries Havmor and Lotte India, Lotte Wellfood generated 270 billion won ($185 million) in revenue in 2023. Further consolidating its operations, Lotte Wellfood plans to merge Lotte India and Havmor into a single Indian subsidiary in the first half of this year, strengthening its product portfolio and distribution network. Havmor’s Haryana plant will also become the first overseas production base for Lotte’s signature Pepero snack in the second half of the year.

During his visit, Chairman Shin also held separate meetings with Reliance Group Chairman Mukesh Ambani, Mahindra Group Chairman Anand Mahindra, and Standard Chartered Bank Group CEO Bill Winters to discuss potential future collaborations.