Another FMCG brand has entered the already competitive milk products market in India, and this time, it is none other than Kishore Biyani’s Future Group, which in a joint venture with New Zealand-based Fonterra co-op, has brought milk products brand Dreamery.
Dreamery, under Fonterra Future Group JV, will sell Dahi, UHT Toned Milk, Chocolate and Strawberry Milkshake, the company announced in a statement. With this, Fonterra Future Group’s Dreamery will try to capture a market that is already dominated by national players including Amul, Mother Dairy, Nestle and regional players such as Baba Ramdev’s Patanjali, Karnataka co-op’s Nandini, Parag Milk and Kerala co-op’s Milma, among others. Dreamery plans to roll out its products across Western India this week. Also, the first products will be available on retail shelves in cities including Mumbai, Pune, Bangalore, Ahmedabad, Hyderabad and Surat.
Dreamery will expand its initial offerings with more products over the next six to twelve months, the company said. Fonterra-Future will be “extending its product offering to include a full range of value-added consumer and foodservice dairy products.”
Speaking on the launch, Kishore Biyani, Founder and CEO of Future Group said: “Dreamery will bring in new products that increase choice for consumers and help expand the value-added dairy market in India”. Also, he said that the Future-Fonterra partnership could be Rs 5,000-6,000 crore business in another five or six years, CNBC TV-18 reported. Future Group and Fonterra have invested 50-50 in the business. Fonterra will leverage the company’s supply chain and has already picked up orders from some retailers, Kishore Biyani told the news channel.
Meanwhile, throwing some light on the Future Group’s plan for the US convenience store 7-Eleven, the company founder Kishore Biyani said that the first store will be opened in Mumbai and company eyes launch in the current financial year. Future Group had announced the agreement with 7-Eleven early this year.