The Indian frozen yogurt brand, Cocoberry, plans to expand its product category to compete in the health and wellness segment. Cocoberry will soon market beverages, breakfast cereals and fresh fruit at the premium end of the FMCG market.
“We will try and differentiate our products from what is already available in the market. The range would comprise organic, non-fat and gluten-free products in categories like beverages and breakfast cereals. There are large players like Danone and Nestle in the health and beverages segment already, but we believe there is still opportunity in this category, as it is growing at almost 40 per cent. We are funded through private equity players and would need another Rs 50 crore for our next phase of expansion,” says GS Bhalla, Founder & CEO, Cocoberry.
The brand will also launch the ‘Cocoberry Fresh' sub-brand to sell fresh fruit, berries being the first to be launched. In breakfast cereals, Cocoberry has no plans to bring products similar to Kellogg's.
The company will subcontract its products to a host of vendors, for which it will expand its distribution with more outlets across the country. The stores will be company owned and will be set up on high streets along with selling via modern trade. “Unlike most of the other FMCG players, we still need a larger distribution network. We intend to have 150 stores across 20 cities to sell our entire range of FMCG products,'' added Bhalla.
Staying away from getting funds from the capital market, the family-owned Cocoberry will approach private equity players for its next round of funding.