DS Group, a prominent FMCG conglomerate, has made a strategic move to strengthen its confectionery portfolio by acquiring The Good Stuff Pvt Ltd, the brand owner of LuvIt Chocolate and Confectionery. This acquisition is expected to enhance the DS Group’s presence in the non-chocolate confectionery segment and expand its distribution network across grocery and retail outlets.
The DS Group entered the confectionery business in 2012 and has since established a strong lineup of popular non-chocolate brands such as Pass Pass, Pulse, Chingles, Rajnigandha Silver Pearls, Maze, and a recent partnership with luxury Swiss chocolate brand Läderach. Pulse, in particular, has been a leader in the hard-boiled candy segment for the past seven years.
With the addition of LuvIt, the DS Group’s confectionery profile will be further augmented with a range of decadent chocolates and confectionery products. The brand brings a diverse selection of rich milky chocolates, crunchy wafer chocolates, fruit and chocolate-flavored lollipops, eclairs, sugar panned chocolates, and chocolate snacks.
The acquisition of The Good Stuff Pvt Ltd, formerly owned by Goldman Sachs and Mitsui Ventures, will not only expand the DS Group’s product offerings but also strengthen its geographical presence, particularly in Southern India. The DS Group’s robust distribution network will synergistically benefit the brand, ensuring wider availability and reach across the country.
The Indian confectionery market, valued at approximately Rs. 23,000 crores, is a lucrative sector for businesses to tap into. Chocolates dominate the market, accounting for nearly 60% share at Rs. 13,800 crore.
According to reports, the Indian chocolate market is expected to grow at a CAGR of 6.69% until 2028. This signifies immense growth potential and opportunities for companies like DS Group, which are positioning themselves strategically to capture a larger market share.
Speaking on the occasion, Shri Rajiv Kumar, vice chairman, DS Group, said, “DS Group has been focusing on increasing its presence in the confectionary segment for the last many years. Acquisition of LuvIt was a strategic decision to enhance our confectionary basket and enter the Chocolate segment with an impressionable footprint.
This would enable us to expand our product portfolio thereby reaching new consumers and markets too. As a brand, that perfectly complements our portfolio and synergizes with our business ethos of innovation and premium quality. ”
This strategic move, coupled with DS Group’s robust distribution network, promises to further strengthen its presence in the confectionery market and create new avenues for growth in the years to come.