Lotte Confectionery recently invested about KRW 34 billion in a local subsidiary in Russia (LOTTE KF RUS) to expand the Choco Pie production line and warehouse building.
Through this, Lotte Confectionery announced on January 20 that it would increase local production capacity and expand sales based on stable supply.
Lotte Confectionery produces and sells four types of Choco Pie at its Choco Pie Factory in Obninsk, Kaluga, Russia. The company generated about 50 billion won in sales last year.
Lotte Confectionery also plans to produce and sell premium pie Monshell in Russia in the first half of the year.
The company recently launched a new advertising campaign for Choco Pie in the Russian market, spurring aggressive marketing activities from the beginning of the year.
Lotte Confectionery is targeting a growth of more than 20% in the Russian market through aggressive marketing this year.
