Italian chocolate maker Ferrero entered India less than a decade ago as part of its global social enterprise to address unemployment in the less-advantaged areas of three emerging countries — India, Cameroon and South Africa. But, now, the maker of Nutella spread, Ferrero Rocher chocolate and Tic Tac breath mints is bigger than Nestle’s chocolate division in India with annual sales exceeding Rs 1,500 crore.
“Ferrero is a company which is guided by ‘pull’ strategy. So, whatever belongs to push doesn’t belong to us,” said Roberto Grasso, managing director at Ferrero India . Having spent more than two decades with Ferrero, Grasso, 57, visited India for the first time in November last year, just three months before he took charge of Ferrero India, but he has already developed a strong liking for traditional Indian mithai even as it competes with Ferrero Rocher, his firm’s laddu-shaped chocolate. In an interview with Economic Times, Grasso said the company will double its investment in the country to Rs 1,600 crore in the next few years.