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Founded
1944
Headquarters
Ahmedabad (India)
Status
Acquired
Company Details
Havmor Ice Cream, founded by Satish Chona, started as a small Karachi shop. Now headquartered in Ahmedabad and owned by LOTTE Wellfood Co. Ltd. since 2017, Havmor is a leading Indian ice cream brand with 65,000+ retail points and 250+ parlors across 24 states. Its core strengths are 100% real dairy ice cream, innovative flavors, and a blend of local expertise with global standards, earning it multiple awards and strong market leadership, especially in Gujarat.
Core Products and Services
Havmor’s portfolio exceeds 150 products, including:
- Traditional & Contemporary Ice Creams- Cones, cups, sticks, tubs, and cakes in classic and modern flavors.
- Premium & Occasion-Based Flavors- Specialty options like Belgian Dark Chocolate, Mocha, and American Nuts.
- Regional Specialties- Indian favorites such as Kulfi, Cassata, Paan, and Ladoo.
- Novelties & Frozen Desserts- Unique treats including Krunch Bar, LOTTE World Cone, and ice cream cakes.
- Family Packs & Party Orders- Large-sized packs designed for families and gatherings.
- Limited Edition & Seasonal Flavors- Exclusive offerings available for a limited time or during festive seasons.
- Ice Cream Beverages & Parlor Desserts- Ice cream shakes, sundaes, and dessert creations at flagship parlors.
Business Model & Revenue Streams
Havmor generates revenue primarily through:
Product sales: via retail outlets, flagship parlors, and modern trade.
B2B supply: to hotels, restaurants, and catering (notable clients include Taj, ITC, Hyatt, Marriott).
Strategic partnerships: e.g., ITC Master Chef for frozen snacks distribution during off-peak ice cream season.
Franchise and flagship parlors: contributing to brand experience and direct consumer engagement.
In FY24, ice cream accounted for over 85% of revenue, with the remainder from fast food and restaurant operations. The customer base is predominantly B2C, but B2B and institutional sales are significant, especially in hospitality and catering
Top Clients & Partnerships
Leading hotel chains: Taj, ITC, Hyatt, Marriott, Radisson, Crowne Plaza.
FMCG partnerships: ITC Master Chef (frozen snacks distribution via ice cream carts).
Retail and distribution: 65,000+ dealers, 250+ flagship parlors, and exclusive outlets in high-footfall locations.
Sports and entertainment: IPL team Gujarat Titans for regional brand activation.
Institutional clients: Indian Institute of Management Ahmedabad and other educational and corporate campuses.
Client concentration risk is mitigated by a broad retail network and diversified B2B relationships. Strategic partnerships enable year-round utilization of the distribution network.
Future Outlook & Strategic Priorities
- Product Innovation: New launches leveraging LOTTE’s global R&D for Indian tastes.
- Premiumization: Introducing high-margin, premium products.
- Capacity Expansion: Investing ₹400 crore in a new Pune plant to double production capacity. Targeting 15–20% CAGR in the coming years.
- Competition: Rising rivalry from dairy and non-dairy frozen dessert players.
- Regulatory Hurdles: Potential labeling and quality compliance issues.
Key People
Satish Chandra Chona
Komal Anand
Key Metrics
Total Equity Funding
N/A
No. of Funding Rounds
0
Latest Funding Round
N/A
Post Money Valuation
N/A
as of N/A
Funding Multiple
N/A
as of N/A
Investors
N/A
Employee Count
1356
Similar Companies
Zomoz
Exit Details
Acquired by Lotte Wellfood (Nov 24, 2017)
All Funding Rounds
No funding rounds available