Fonterra Future Dairy introduced its first dairy brand Dreamery in Mumbai according to a report appearing in Stuff.co.nz on Thursday, June 27.
This is the first product brand of Fonterra after its joint-venture with India’s retail giant Future Group earlier last year.
Dreamery was unveiled at an event in Mumbai and is set to appear in stores across west part of India from this week with its products to be soon available across the country in the next 12-24 months.
Fonterra Future Dairy, under the brand, launched ultra-high temperature (UHT) toned milk, Yoghurt (Curd), chocolate and strawberry milkshakes.
“Dreamery will bring in new products that increase choice for consumers and help expand the value-added dairy market in India,” Vice-Chairman of Future Consumer and Chief Executive Officer, Future Group, Kishore Biyani was reported saying by a local financial web portal www.moneycontrol.com.
Biyani added that 8 to 10 per cent sales of Future Consumer come from their dairy products.
“Our aim is that 60 to 70 per cent of what we sell has to be our own brand,” Biyani said.
The company will also look to add to the initial range with more innovative products over the next six-twelve months.
“As we move forward, we will continue to evolve our portfolio with products that will deliver superior quality, taste and nutrition across the Dreamery product range,” CEO, Fonterra Future Dairy, Ishmeet Singh, said.
The Future group has more than 2000 stores in India and 5000 public distribution outlets and a nationwide cold-chain and distribution network.
Dreamery will be sold at Future Group’s speciality food store Food Hub, and Big Bazaar, the Indian version of The Warehouse of New Zealand, both of the brands which are owned by Future Group and are present in several states in India.
Left to Right: Mr. Ishmeet Singh, CEO, Fonterra Future Dairy, Mr. Sunil Sethi, Chairman, Fonterra Future Dairy & MD, Sri Lanka & India Sub Continent Fonterra, Mr. Kishore Biyani, Founder and CEO, Future Group, Mr. Chris Greenough, Director – Strategy & Foresights, Fonterra Co-operative Group Limited, Mr. Anuraag Agarwal, Head of Business Development, Strategy and Mergers & Acquisitions at Future Grou.
The milk for Dreamery will be supplied from the Indian dairy farmers that meet New Zealand Dairy Standards, but the Anchor’s food service products such as cheese and cream will be imported into India for the hotel and restaurant sector by August this year.
The first range of Dreamery products will go on retail shelves in cities like Bangalore, Mumbai, Surat, Pune, Ahmedabad and Hyderabad.
After the initial launch, the Forterra-Future Group JV will focus on building a strong consumer base with its strategic expansion throughout India.
The company plans to launch a new product every quarter under the brand.