Havmor Ice Cream

Last updated

Havmor Ice Cream
Company type Private Company
Industry Consumer Staples
Founded1944;81 years ago (1944) [1]
FounderSatish Chandra Chona
Headquarters Ahmedabad, Gujarat, India [1] [2]
Key people
  • Kyungwoon Cho
  • (Chairman) [3]
  • Komal Anand
  • (Managing Director) [4]
Products
RevenueIncrease2.svg₹1,200 crore (2024) [5]
Owner Lotte Wellfood (2017–present)
HRPL Pvt Ltd (till 2017) [6]
Number of employees
741 [7]
Parent Lotte Wellfood
Website www.havmor.com
A Havmor outlet in WTP, Jaipur India - World Trade Park Jaipur (2022) - img 02.jpg
A Havmor outlet in WTP, Jaipur

Havmor Ice Cream Company Private Limited is an Indian ice cream manufacturer. Havmor was founded in 1944, [1] and its registered office is located in Ahmedabad, Gujarat. [2] The company is owned and operated by Lotte Wellfood after its acquisition in 2017. [8]

Contents

It holds a 12.5% market share in India's ice cream industry [9] and a 35% market share in Gujarat. [10] A 2017 Nielsen Global Brand-Origin survey ranked Havmor among the top five brands in its category. [9]

History

Havmor was founded by Satish Chandra Chona as 'Have More' in 1944 in Colonial India in Karachi (now in Pakistan). Chona was an engineer who used to work for BOAC (of British Airways). After his day job he started working at his uncle’s restaurant, where he learnt to make ice-creams. After partition, he shifted to Dehradun, where he started a small shop. Later, he moved to Indore and then eventually to Gujarat. There, Chona set up the first outlet on Relief Road. In 1960s, the brand name was changed from 'Have More' to 'Havmor'. [11] [12]

In April 2013, it partnered with Zydus Wellness, a group company of Cadila Healthcare, to source ingredients for its "Sugar Free" ice cream range and to use the "Sugar Free" brand for its products. [13]

In 2017, Lotte Confectionery, a South Korean company acquired Havmor for ₹1,020 crore (US$120 million). [14] The then Managing Director of the company, Ankit Chona, who is grandson of founder Satish Chona, told "If someone takes the business and makes it grow much faster and take it to the national level, then we are happy to look at the brand going into a such suitable hands." [15]

In December 2021, ITC Master Chef partnered with Havmor Ice Cream to distribute frozen snacks through Havmor's ice cream carts in Delhi-NCR. [16]

In January 2023, its parent, Lotte Confectionery announced an investment of ₹4.5 billion (USD 55.1 million) in its Indian unit, Havmor Ice Cream, to build a new greenfield plant at MIDC Talegaon in Pune, Maharashtra, over the next five years. [17]

In August 2024, it was reported that Lotte Wellfood had merged its Indian subsidiaries, Lotte India and Havmor Ice Cream, to form an integrated entity named One India, with the merger expected to be completed in the second half of the year. [8]

Products

Havmor offers a large range of ice creams with multiple flavors and packs. The company sells more than 160 varieties of ice creams across forms. [18]

Operations

Havmor Ice Cream operates in more than 20 states, has 216 exclusive ice cream parlours, and a network of over 60,000 dealers in India. [19] The company has approximately 70,000 selling points across India, catering to urban markets. [20] It has manufacturing plants in Ahmedabad, Gujarat, Faridabad, Haryana [20] and one in Solapur, Maharashtra, which was launched in 2019. [21] It also established a state-of-the-art facility in Pune, Maharashtra. [21]

Finance

Havmor reported approximately ₹1,200 crore in revenue for the fiscal year 2023. [22] [5] In the fiscal year 2015–16, the company had a turnover of approximately ₹450 crore, in which 85% of the revenue came from its ice cream business and the remaining 15% from its restaurant and fast-food chain operations. [23]

In the FY 2016-17, Havmor reported an annual turnover of approximately ₹500 crore. The majority of its revenue, around 80%, came from the ice cream segment. [6]

Marketing

In 2012, the company launched the Zulu Bar, one of its products, and promoted it through television advertisements. [24] In 2013, Havmor collaborated with the movie Krrish 3 to introduce a custom-packaged ice cream range. As part of this campaign, actor Hrithik Roshan endorsed Havmor ice creams. [25]

In 2016, Havmor launched a nationwide campaign with the tagline 'Goodness the World Deserves'. [26] [24] In 2017, it launched the Cool Gaiz animated campaign to highlight its "Made with Real Milk" positioning, which was later revived in subsequent years to promote its diverse range of products. [24] In 2017, it became the official ice cream partner for U Mumba during the Pro Kabaddi League season. [27] Havmor runs 'The Coolest Summer Job,' a program launched in 2017 that gives participants hands-on experience in ice cream making. [28]

In September 2020, the company launched a web series titled Havmor Passport, starring actor Malhar Thakar and written and directed by Manan Desai. [29] In 2023, Havmor became one of the sponsors of Gujarat Titans, with cricketer Hardik Pandya as the brand ambassador and launched two TVCs featuring him during the 2023 Indian Premier League. [30]

Awards and recognition

Havmor won the 'Times Food Award' for the 'Best Ice Cream shop in Ahmedabad' awards in 2007. [31] Havmor Ice Cream won 'Times Food Award' for the 'Best Ice Cream' in the year 2008, [32] 2010, 2011, 2012 and 2013. [33] [34]

In 2014 and 2015, Havmor won the 'Times Food Award' for the 'Best Ice Cream Shop'. [35] Havmor won the 'Times Food Award' for 'Best Snacks - Vegetarian' award in 2016. [36] In 2017, it won the 'Times Food Award' for the 'Best Ice Cream in Casual Dining'. [37] And in 2019, it won the 'Times Food Award' for the 'Best Ice Cream Parlor - Casual Dining'. [38]

In 2021, Havmor received the Times Food & Nightlife Award in the Desserts Casual Dining category from The Times of India . [39]

See also

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References

  1. 1 2 3 "Havmor | Our History". Archived from the original on 13 September 2021. Retrieved 13 September 2021.
  2. 1 2 "Havmor ICE Cream Company Private Limited Information - Havmor ICE Cream Company Private Limited Company Profile, Havmor ICE Cream Company Private Limited News on The Economic Times". The Economic Times. Archived from the original on 8 May 2019. Retrieved 13 September 2021.
  3. ↑ "Board of Directors". Havmor. December 2024.
  4. ↑ Sarkar, Brinda. "Lotte's Havmor Ice Cream brings on board Komal Anand as managing director". The Economic Times. Retrieved 13 September 2021.
  5. 1 2 "Havmor's Pune factory to be operational by November, to produce new candy range: MD". Zee Business. 25 July 2024.
  6. 1 2 Thaker, Naini (19 February 2019). "Havmor: Melting point". Forbes India .
  7. ↑ "Havmor Ice Cream Pvt Ltd". LinkedIn. Retrieved 13 September 2021.
  8. 1 2 Srivastava, Akshara (2 August 2024). "Lotte India, Havmor announce merger; aim to achieve sales of Rs 6K cr". Business Standard.
  9. 1 2 Vyas, Sharad (2 August 2019). "After State, Havmor eyes southern market". The Hindu .
  10. ↑ "Havmor Ice Cream Implements SAP ERP". Firstpost. 2 February 2017.
  11. ↑ "Havmor's journey from Karachi to Dehradun to Gujarat: The success story of a 73-year-old ice cream brand". Firstpost. 24 November 2017. Retrieved 13 September 2021.
  12. ↑ "Havmor: Melting Point". Forbes India. Retrieved 13 September 2021.
  13. ↑ Das, Sohini (22 April 2013). "Havmor ties up with Zydus for 'Sugar Free' ice creams". Business Standard.
  14. ↑ Das, Sohini (24 November 2017). "South Korea's Lotte buys Havmor Ice Cream for Rs 1,020 crore". Business Standard India. Retrieved 13 September 2021.
  15. ↑ "South Korean LOTTE buys Havmor Ice Cream for Rs 1,020 cr". @businessline. 23 November 2017. Retrieved 13 September 2021.
  16. ↑ "ITC Master Chef, Havmor Ice Cream tie up to sell frozen snacks on mobile carts". Livemint. 22 December 2021.
  17. ↑ Han, Hyeong-je (18 January 2023). "Lotte to invest $55 mn in Indian ice cream subsidiary for 5 years". The Korea Economic Daily.
  18. ↑ "Havmor Ice Cream". IndiaMART. Retrieved 14 September 2021.
  19. ↑ "Havmor Ice Cream to invest ₹450 crore to ramp up capacity in India". Livemint. 17 January 2023.
  20. 1 2 Laghate, Gaurav (23 October 2023). "Lotte plans to widen ice cream biz". Livemint.
  21. 1 2 "Havmor Ice Cream launches third facility in Solapur". The Economic Times. 11 April 2019.
  22. ↑ Ha, Hun-Hyoung (30 July 2024). "Lotte India, Havmor to merge to raise $722.4 mn in sales". The Korea Economic Daily.
  23. ↑ "Havmor aims at Rs 1,000 crore sales by 2020". The Economic Times. 17 May 2016.
  24. 1 2 3 Yadav, Sneha (21 November 2019). "Celebrating 75 years of Havmor Ice creams". Social Samosa.
  25. ↑ Pandit, Virendra (24 October 2013). "Film co-brands with ice cream: Now Hrithik to endorse Krrish-3 ice creams!". The Hindu Business Line.
  26. ↑ Nair, Priyanka (18 May 2016). "Havmor adds 'goodness' to its marketing campaign with an investment of Rs. 35 cr". The Economic Times.
  27. ↑ "Havmor to be U Mumba's official ice cream Partner for Pro Kabaddi Season 4". The Economic Times. 4 July 2016.
  28. ↑ "The coolest summer job is here: Be a chief tasting officer for Havmor Ice Cream". The Economic Times. 2 May 2017.
  29. ↑ Madan, Ankita (28 September 2020). "Havmor Ice Cream breaks the clutter, launches its 1st ever web series". Afaqs.
  30. ↑ Chacko, Benita (3 April 2023). "Havmor Ice Cream to use martech for the first time in an ad campaign". Afaqs.
  31. ↑ "Best Ice cream shop in Ahmedabad : Havmor, awardees: Pradeep Chona & Rekha Chona, awarded by Chirag Mehta - Photogallery". photogallery.indiatimes.com. Retrieved 14 September 2021.
  32. ↑ "Havmor | PDF | Sampling (Statistics) | Research Design". Scribd. Retrieved 14 September 2021.
  33. ↑ "Times Food Awards '13 winners in Ahmedabad". The Times of India. 6 March 2013. Retrieved 14 September 2021.
  34. ↑ "FNB News - Havmor Ice Cream bags two accolades at Times Food Awards' 2017 edition". www.fnbnews.com. Retrieved 14 September 2021.
  35. ↑ "Ahmedabad celebrates the best of food - Times of India". The Times of India. 2 March 2015. Retrieved 14 September 2021.
  36. ↑ "Havmor ice cream- you really would want to keep having more and more!!". HungryForever Food Blog. 29 July 2016. Retrieved 14 September 2021.
  37. ↑ Anna (18 February 2017). "Havmor Ice Cream Bags Two Awards At The Times Food Awards 2017". HungryForever Food Blog. Retrieved 14 September 2021.
  38. ↑ "Times Food and Nightlife Awards '19 - Delhi: Winners | Times Food and Nightlife Awards '19 - Delhi: Winners Celebrity Pics | Times Food and Nightlife Awards '19 - Delhi: Winners Photo Gallery - ETimes Photogallery". photogallery.indiatimes.com. Retrieved 6 April 2022.
  39. ↑ "Times Food & Nightlife Awards 2021: Celebrating The Winners In Ahmedabad!". Whatshot. 4 May 2021.
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