Snowberry to enter Indian Ice-cream Market with investment worth $50 million

US-based ice cream maker Snowberry USA Inc. has decided to enter the Indian organized ice-cream market with a planned investment of US$ 50 million for setting up 1,000 parlors and kiosks across the country by 2010.

According to sources, the standalone parlors would be around 1,000 sq ft in size, while kiosks would have retail space of around 100 sq ft each.

The American retailer has already set up an Indian subsidiary, Snowberry India Pvt. Ltd, and would soon open its parlors under a franchise agreement with Delhi-based realty finance company Soni Buildcom.

Robert Barker, President, Snowberry USA during the announcement said, "We are starting with 50 parlors and kiosks in Delhi and NCR before Valentine's Day in February 2009 as part of our plan for having a 1,000 store strong presence across India by end of 2010 with an investment of 50 million dollars."

To become a significant player in the estimated Rs 800 crore organised ice cream market in India, Snowberry plans to set up a 21,000 sq ft manufacturing facility at Manesar with an investment of USD 5 million which would start operations next year.

Snowberry India Pvt. Ltd expects a sales volume of USD 25,000-30,000 from each outlet within six months of starting operations.

India is the Snowberry's second international foray, after South Korea where it claims to have the top slot in the segment.
 

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