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FMCG start-up Global CP has unveiled its Luvit brand of chocolates in the Kerala market, targeting young consumers.
Luvit is available in the key format of moulded chocolates, enrobed wafers, caramel nought bars, etc at price points of ₹5, ₹10, ₹25, ₹40 and ₹45.
According to A. Mahendran, promoter of the company, the ₹7,000-crore Indian chocolate market has been growing at a CAGR of over 20 per cent. The southern states account for almost 30 per cent of the national chocolate market and over 80 per cent of the southern market is concentrated in the urban centres.
With its manufacturing facility in Hyderabad, he said, the products have been launched in the Andhra Pradesh, Telangana, Tamil Nadu, Puduchery, and Karnataka markets by appointing a strong network of 80 distributors.
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