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Ice Cream Industry
FMCG major HUL on Friday said it has incorporated a new subsidiary Kwality Wall's for the proposed demerger of the ice cream business of the company. Kwality Wall's (India) Ltd (KWIL) has been incorporated "for the purpose of the proposed demerger of the company's ice cream business, which is currently under evaluation by the Board of the company," the FMCG major said in a regulatory filing. HUL will own 100 per cent of the issued and subscribed share capital of KWIL. Earlier on November 25, 2024, HUL approved the demerger of the ice cream business, which owns brands like Kwality Wall's, Cornetto and Magnum into an independent listed entity. The existing shareholders of the FMCG major will receive shares in the new entity in proportion to their shareholding in HUL, it had said. The board of HUL decided to de-merge the ice cream business, based on the recommendation of the Independent Committee, which was formed by the FMCG major earlier in September 2024. The Independent Committe
Softy ice cream mix in vanilla flavour is not a dairy product and will attract 18 per cent GST, Rajasthan bench of Authority of Advance Ruling has said. VRB Consumer Products Pvt Ltd had approached the AAR on the taxability of vanilla mix in powder form which will have 61.2 per cent sugar, 34 per cent milk solids (skimmed milk powder) and 4.8 per cent of other ingredients, including flavouring substances and salt. The Authority of Advance Ruling (AAR) observed that each ingredient has a specific role to make the soft serve smooth and creamy in texture. Further, it is also conclusive that not only that contents of the product, but also the processing done in the soft serve machine also play a vital role in giving smooth and creamy texture characteristic of soft serves. As per GST law, food preparations subjected to further processing for human consumption attract 18 per cent tax. Also preparations consisting of milk powder, sugar and any other added ingredients, powder for table crea
Premium ice-cream brand Baskin Robbins is looking at a 20 per cent growth in India in the 2023-24 financial year, a company official said. Mohit Khattar, the CEO of Graviss Foods, which is the master franchise for Baskin Robbins in South Asia, said the company was not perturbed by Reliance's foray into the segment as competition is good for the industry. Following are the excerpts from an interview he gave to PTI: Q. What is your growth strategy in India? -- The growth strategy for Baskin Robbins in India centres around innovation in every aspect -- the products we have, the way we serve our customers, the way we advertise. So it's all about reaching out to different audiences. Q. How do you plan to expand in Tier 2 and Tier 3 cities? -- We are present across 239 cities in India. So, we are already in Tier 2 cities. It is not that difficult for us. It is about getting our products right, which is what we're more focused on -- whether it's different flavours or beverages. One of t
Baskin Robbins, an ice cream brand operating in the premium space, has plans to add around 100 parlours in the current fiscal expanding its network further, said a top company official. The company is looking for a double-digit growth in sales, helped by multiple growth drivers, including expansion of ice cream parlours and new offerings, said Mohit Khattar, CEO of Graviss Foods -- the Indian franchise partner of Baskin Robbins. "Last year, we have crossed 850 ice cream parlours and this year (FY24) the plan is to add another 100 parlours to our network," said Khattar. Most of the expansion would be through its franchise partner, though the company would also open some of them. "The idea is to keep penetrating, keep going down and extending the brand into new cities," he said When asked about the growth, he said: "We expect the market to grow about 15 to 16 per cent and we are expecting a growth higher than that." Khattar declined to share the financial details, however, he said: