The Chocolate Hero

Success, it is often said, has a way of catching up and giving you sleepless nights later on. Rajeev Bakshi of Cadbury India Ltd must certainly be thinking that when he steps into replace Jim Robertson as managing director.

As marketing director more than two years ago, Bakshi led a very successful relaunch of the Cadbury dairy milk brand aimed at making chocolate consumption a regular habit than an impulse purchase.

Executed by Ogilvy & Mather, the campaign immediately propelled the sleepy chocolate market into a high growth plateau, with growth rates surging to over 30 per cent from less than 15 per cent.

Today, as Bakshi returns from a short stint as marketing director, Asia and Pacific, with the parent company in the UK, he will have very little time to enjoy the fruits of his endeavours. Drawn by high growth rates, global chocolate majors have made a beeline for India and the existing player Nestle has considerably beefed up its presence. Mars Confectionery is already here and Sara Lee is also planning to set up base.

Though Cadbury still holds sway with a market share of more than 60 per cent, Bakshi will be the last person to rest on his laurels. Cadbury still has a long way to go before it achieves the kind of performance investors expect from a well-established multinational. Its turnover is yet to cross the Rs 500 crore mark, despite being in India for more than three decades. In both chocolates and malted food drinks, the company faces stiff competition both from Nestle and other players like Smithkline Beecham and Heinz.