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Updated January 28th, 2024 at 18:35 IST

Swiss Chocolatier Laderach aims to expand footprints in India

Swiss Chocolatier Läderach aims to expand footprints in India

Reported by: Business Desk
Swiss Chocolatier Läderach aims to expand footprints in India
Swiss Chocolatier Läderach aims to expand footprints in India | Image: Läderach
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Luxury Market: The country's growing appetite for luxury, and western-inspired trends, has grabbed the attention of Swiss chocolatier Läderach, which controls about 5 per cent of the entire Swiss chocolate market. 

With a presence spanning just eight months in India, the brand has faced strong competition and complex import duties, but still sees immense potential in the market and expects to open at least half a dozen stores in the next two years, as per media reports. 

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“India is a promising market and the reason we have come to India is because so many Indian consumers have discovered us in different parts of the world.

"There is immense opportunity in such markets,” said Johannes Läderach, CEO of Läderach, citing media reports. 

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“Though there is a free-trade agreement being negotiated between India and Switzerland, which could be very helpful,”he said. 

"This is because India is at the highest end of customs duties across the 20 markets we operate in. The duties are very complicated too based on varieties of chocolate being imported," he added. 

After 16 years of talks, India and Switzerland have signed a deal for a free trade agreement in 2024. While the outline has been agreed upon, the details of the agreement are yet to be finalized. 

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If the agreement comes through, it will be a breakthrough for the industry and a lot of progress has already been made on this front. It is likely to also reduce costs of imported luxury goods such as these, the owner of the luxury business said. 

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Published January 28th, 2024 at 18:34 IST

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