Cadbury banks on new products for a double digit growth

NEW DELHI: Having exorcised the ghost of worms in chocolates controversy successfully, Cadbury India is setting targets of achieving healthy double digit growth on the back of new product introductions.

"The confectionery industry has been achieving healthy growth with more momentum from the chocolate segment. We are also a part of this industry and should also grow well," Cadbury India Managing Director Anand Kripalu said here.

He said the company expected to post a "strong double digit growth" this year with newly introduced products expected to do well.

"Recently we have introduced three-four new products like the Dairy Milk Wowie based on Walt Disney characters, Eclairs Crunchy, new variety of Gems and 5-Star Magic. We expect these products to do well," Kripalu said.

Asked if the company would enter the chewing gum segment, which has been seeing a revival, he replied in the negative.

"The segment (chewing gum) is seeing a lot of activity and is on a growth path again, but we do not have any plans to enter it as we would like to focus on our other core products," he said.

Commenting on the worms in chocolate controversy that jilted the company three years back, he said, "That is in the distant past and the company is looking ahead."

He said the company, which spends about 12 per cent of its turnover on marketing activities, expected to continue to carry on aggressive campaigns and benefit from the star power of its brand ambassador Amitabh Bachchan.