Hershey Test Markets India’s Soya Brand ‘Sofit’ in U.S.

Pennsylvania-based Hershey acquired the Sofit brand after buying out India’s Godrej Group from its joint venture, Godrej Hershey Ltd., in 2012. And now, Hershey plans to introduce Sofit, (a brand synonymous with soya milk, since it was first introduced in the year 2004 by Godrej Hershey Ltd.) in the U.S. market as a seed-based protein bar in the snacking category.

Praveen Jakate, chairman & managing director, Hershey India, said, “We want take Sofit to the U.S. to make it bigger. We want to capitalize on the legacy of the Indian brand since soya can be a platform to grow and do things, as it is a source of protein.”

A tetrapack of Sofit soya milk

The company said India has emerged as its fastest growing market, clocking net sales growth of 16 percent, and that it is planning to invest $50 million over five years in the country, reports Business Line. Steven Clay Schiller, president international, Hershey, said, “We want to make India an export hub and want to import and export our products into India. We should be able to sell without having trade barriers which will make it easy to do business.”

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Posted on by Gunjan Bagla
Gunjan Bagla
California-based management consultant Gunjan Bagla runs Amritt, a consulting firm helping American companies to succeed in India. Amritt is the trusted advisor for India market research, India business development, India market entry, Global Engineering, Global Technology Scouting, India R&D and Open Innovation. Gunjan is author of "Business in 21st Century India: How to Profit Today from Tomorrow’s Most Exciting Market" (Hachette Book Group, 2008), Amazon's top rated title on the subject. He has appeared as the India Expert on BBC Television, Bloomberg TV, Fox Cable Business and has been quoted in the New York Times, the Los Angeles Times, the Hollywood Reporter and Business Week for his expertise on India.

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