Lotte India expands confectionery unit in TN, invests Rs 185 cr

CHENNAI: One of India’s leading players in the confectionery industry, Lotte India announced the official opening of its expanded factory in suburban Nemam.

The company has invested Rs 185 crore in the 85,562 square-foot expansion of the confectionery factory to increase production of its iconic Lotte Choco Pie products.

The investment will play a key role in strengthening Lotte India’s strong leadership in the Indian confectionery market and will create an additional 200 jobs for the people in and around Nemam. The company has exhibited exceptional growth, with annual sales surging from Rs. 1,681 million in 2007-2008 to 4,965 million in 2021-22, reflecting an year-on-year growth rate of over 21%.

In the fiscal year 2022-23, the company achieved an annual sale of 6,572 million. The expansion, initiated in October 2022, was driven by the necessity to meet the surging demand and sustain this remarkable growth trajectory.

Milan Wahi, MD, Lotte India said, “This expansion builds on Lotte India’s rich history in India and comes at an exciting time for our overall investment and growth in the country. With an additional 85,562 square-foot, our factory's facility area has witnessed a substantial expansion, increasing from 18% to 32%, making it one of the largest factories in India at a total size of 5,16,398 square-foot.”

Wahi added, “Our factory in Nemam has been accoladed for maintaining the highest safety and hygiene standards since its inception in 2010.”