CHENNAI: The Reliance Consumer Products Limited (RCPL), FMCG arm of Reliance Industries Limited, has signed a Memorandum of Understanding (MoU) with Finland’s leading foods company Fazer, it said in a press release on Friday.
The two companies will establish a long-term strategic partnership in India to produce, market, and distribute branded premium chocolates using Fazer’s recipes and high-quality standards nationwide.
The MoU was signed as part of the President of Finland Alexander Stubb’s state visit to India.
Together, the companies could have the potential to build a unique position in India’s chocolate and confectionery market, which is expected to grow rapidly due to rising consumer incomes and organised retail penetration.
T. Krishnakumar, Director, Reliance Consumer Products Limited, said, “This will accelerate RCPL’s growth in chocolates & confectionary market. By combining Fazer’s globally trusted brands and manufacturing excellence with RCPL’s local production capabilities, robust distribution network, and deep consumer insights, we are well positioned to bring world-class products to Indian consumers and elevate the overall category experience.”
Christoph Vitzthum, President and CEO, Fazer, stated, “With RCPL handling commercialisation and distribution in India we could establish a premium position in the chocolate market and a foundation for a broader scale nation-wide roll-out with a leading and highly capable local partner.” Since its inception in 2022, the RCPL has revived India’s brands like Ravalgaon, Toffeeman and Pan Pasand, and Lotus Chocolates. RCPL is has also introduced some global brands like Maliban, Nexba and PACE, among others, to the Indian consumers.