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Food business Jan, 23 2015

Creambell to take IPO route soon, to close 2014-15 with sales turnover of Rs 500 crore

The Indian ice cream market is one of the fastest growing sectors amongst the Indian food market, posting a CAGR of 15 per cent in the period 2007-12. It is further expected to increase to a 17.6 per cent CAGR during 2012-17.

By Franchise India Bureau
Creambell to take IPO route soon, to close 2014-15 with sales turnover of Rs 500 crore

Creambell Ice Cream, owned and managed by Devyani International, is planning to explore IPO route soon.

Presently, it is present in over 55000 retail stores and has 10000 push carts, pan India.

The company is also planning to close year 2014-15 with a sales turnover of Rs 500 crore.

“We expect to close 2014-15 with a sales turnover of Rs 500 crore on the back of capacity enhancement and retail expansion. In addition to this, we are looking at increasing our number of static outlets by 20 per cent over the existing base by the end of 2015,”said Nitin Arora, CEO, Creambell.

Creambell was launched in 2003 and in a short span of 10 years; it has emerged as one of the top 5 brands in the highly competitive ice cream segment in the country.

The Indian ice cream market is one of the fastest growing sectors amongst the Indian food market, posting a CAGR of 15 per cent in the period 2007–2012. It is further expected to increase to a 17.6 per cent CAGR during 2012–2017.

“However, the per capita consumption of ice creams in India is a mere 325 ml compared to 23 litres in the US, 18 litres in Australia, 14 litres in Sweden. Even Pakistan is way ahead at 800 ml,” added Arora.
 

Related: Junk food, cold drink banned at Amarnath yatra

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