Parle enters luxury chocolate segment with Friberg brand

Biscuits and confectionery manufacturer Parle Products has forayed into luxury chocolate segment with the launch of Friberg, a super-premium chocolate brand imported from Belgium and Switzerland.

The launch of the new chocolate brand is inspired by the growing demand for luxury chocolate offerings and changing consumer preferences from traditional sweets to premium chocolates as gifting options during the festive season.

"Chocolate consumption in India is gaining popularity and we at Parle are always looking to innovate as we understand the evolving palate and tastes of the Indian consumers who are now looking for unique, self-indulgent food products," Parle Products Brand Manager Kaizeen Writer said in a statement.

The company has also launched Belgian wafer thins which are a first of its kind for the Indian market.

The bar format comes in three different Swiss chocolate flavours which include Lait Suisse Chocolat, Noir Suisse Chocolat and Lait Caramel Chocolat.

Priced at Rs 350 for 125 gms in the wafer format and 90 gms in the bar format, Friberg has been launched in Mumbai, Delhi, Bengaluru, Ahmedabad, Chennai and Hyderabad in select stores.

According to industry estimates, the chocolate market in India is projected to surpass $17 billion by 2020.

Rising disposable incomes, changing lifestyles and a young population's growing penchant for indulgence has transformed India into one of the world's fastest growing chocolate markets.

Parle Products has presence in biscuits, confectionery and snacks segments with brands like Monaco, Krack Jack, Hide & Seek, Milano, Mango Bite and Melody and is now looking to capture the premium chocolate category with the launch of Friberg.