Growing increasingly convinced about the viability of the frozen yogurt business in India, Bhalla decided to take the plunge. He started the frozen yogurt chain with an initial investment of Rs. 1 million, which came mostly from internal accruals of the Horizon RHI group. Bhalla also used some debt for financing the initial expansion of the chain...
Creating a Brand
Innovation was the key for the launch and success of Cocoberry. The innovation at Cocoberry was to offer the healthiest options in food along with good taste, flavor, and a lot of varieties to choose from. Cocoberry recognized the potential in the Indian health and wellness foods segment. Its yogurt offerings were low-fat, low-sugar, and low-calorie. It did not select the already overcrowded drinkable yogurt business but instead chose frozen yogurt as it was the fastest growing product categories in the F&B segment...
Early Successes and Challenges
Cocoberry broke even in the very first year of its operation (in just nine months). It achieved a total turnover of Rs. 110 million by 2011. By March 2011, Cocobbery had 24 outlets out of which 10 were company-owned outlets. By mid-2011, Cocoberry had expanded into five Indian cities with 29 outlets. The company, which started with five employees, had increased its manpower to 200 by 2011...
Decision to go Global
According to Bhalla, Cocoberry had a 95 percent market share in India's frozen yogurt market. He was expecting to achieve 400 percent growth in 2011. Savoring its early success, it was aiming to enter international markets to speed up its growth. In July 2011, Bhalla said that Cocoberry would go global within 12-18 months. Attracted by the new business model, many international markets like Ukraine and Serbia were making franchise enquiries of Cocoberry...
Exhibit I: Logo of Cocoberry
Exhibit II: Products of Cocoberry
Exhibit III: Toppings for Frozen Yogurt Available at Cocoberry
Exhibit IV: Franchise Development System of Cocoberry
Exhibit V: Awards Won by Cocoberry
Exhibit VI: Facebook Page of Cocoberry
Exhibit VII: Statistics on Cocoberry's Franchise