The Chona family, known for their expertise in the ice-cream business, is gearing up for a sizzling summer ahead. Ankit Chona and his family recently made a visit to Ahmedabad for a ceremony commemorating the expansion of their Hocco ice-cream plant in Bavla, located on the outskirts of the city. The upgraded facility is set to increase its production to three times the current output of 40,000 litres per day.
After selling their Havmor ice-cream brand to Lotte Confectionery in 2017, the Chonas re-entered the market with Hocco in October 2023. They have now set their sights on establishing a second ice-cream factory in northern India and expanding into the lucrative markets of the US and Canada.
Their journey back into the ice-cream business began after the sale of Havmor, with the launch of the Huber & Holly parlours in Mumbai. Despite facing challenges during the Covid pandemic, they decided to re-enter the industry with the launch of Hocco, a brand aimed at offering quality ice-creams at affordable prices to the mass market.
The Chona family has a rich legacy in the ice-cream business, with their roots tracing back to Karachi. Following the Partition, the family patriarch, Satish Chona, migrated to Ahmedabad and laid the groundwork for the family’s successful ice-cream business.
With a significant investment of ₹150 crore from the family and investors, Hocco has quickly established itself as the fourth largest ice-cream brand in Gujarat, after Amul, Vadilal, and Havmor. The family plans to raise an additional ₹100 crore for further expansion, with a focus on setting up a new manufacturing unit in North India to cater to the NCR, Uttar Pradesh, Haryana, and Rajasthan markets.
The Indian ice-cream market is witnessing steady growth, and Hocco is poised to capitalize on this trend by targeting a larger share of the market, including the rural segment. The company’s projected revenue of ₹200 crore for the current financial year is expected to be driven largely by the Gujarat market, with plans to expand into Rajasthan, Maharashtra, and the NCR region.
In addition to their domestic expansion plans, Hocco is eyeing international markets such as the US and Canada. Leveraging their existing food and beverage business, the company aims to establish a presence in key cities with a significant Indian diaspora. The US market, in particular, holds great potential for growth, and the company is optimistic about the prospects of their brand in that market.
Meanwhile, Huber & Holly ice-creams continue to be sold through high-end parlours in several cities, and the family’s restaurant business under the Hocco Eatery and 1944 brands offers a delectable mix of North Indian cuisine and ice-cream delights.
Looking ahead, the Chona family’s foray into the health food segment with the Phab brand, spearheaded by Gayatri Chona, holds promise for further expansion. With plans to raise capital and explore strategic partnerships, the family is poised to make a mark in the healthy snacking and protein supplement market.
In conclusion, the Chona family’s journey in the ice-cream business is a testament to their entrepreneurial spirit and commitment to quality and innovation. As they continue to explore new avenues for growth and expansion, their cup of ambition runneth over with promise and potential.
