Mars Wrigley India Enters Luxury Gifting Market with Galaxy Jewels

Mars Wrigley India has launched its premium chocolate brand Galaxy Jewels to tap into the Indian luxury gifting market, estimated at Rs 1,000 crore. The company plans to leverage existing sales channels and focus on major festivals like Diwali, Raksha Bandhan, and Valentine's Day to gain traction.

Mars Wrigley India has made a strategic entry into the fast-growing luxury gifting market with the launch of its premium chocolate brand, Galaxy Jewels.

The company aims to capture a significant share of the Indian gifting market, which is valued at around Rs 1,000 crore, according to Chief Marketing Officer Nikhil Rao.

Rao noted that while the mass market is growing at 3%, the premium segment is expanding at 20%, providing a lucrative opportunity for Galaxy Jewels.

Galaxy Jewels already holds a strong presence in markets like the Middle East and Africa, commanding a 50% market share.

Focusing on Indian festivals like Diwali, Raksha Bandhan, and Valentine's Day, Mars Wrigley plans to sell Galaxy Jewels year-round.

The company will utilize traditional trade, modern retail, and e-commerce to distribute the new product.

Additionally, Mars Wrigley India has launched a TV commercial to highlight the premium attributes of Galaxy Jewels.

(With inputs from agencies.)