MAM
Word of mouth plays a crucial role in our marketing: Anuj Rustagi, Fabelle
NEW DELHI: The chocolate market in India is estimated to be around Rs 11,000 crores and is primarily dominated by the FMCG segment which offers chocolates in conventional formats at popular price points. Having said that, a sizeable number of consumers also seek premium and international chocolate experiences.
Home-grown luxury chocolate brand Fabelle, from ITC Foods, launched its first chocolate boutique to retail chocolates in the country in 2016 from Bengaluru and has expanded to 14 boutiques across the top six metros. To further extend these experiences to masses, the brand entered the premium mass segment in 2018 in two unique formats – center-filled bars called Fabelle Soft Centers, and multi-layered bars known as Fabelle Choco Deck. Now, it has added another product to its portfolio – the ‘Fabelle La Terre’, a creative reimagination of 100 per cent earth positive chocolate that is sustainably manufactured.
According to ITC Ltd COO- (chocolate, coffee, confectionery and new category development – foods division) Anuj Rustagi, the expertise in understanding the Indian palate and delivery of luxury chocolate offerings at par with global standards have helped them build a loyal and strong consumer base across age groups. “Our network of boutiques and online presence through e-commerce platforms and food delivery agents like Swiggy and Zomato have enabled us to take our one-of-its-kind chocolate experiences closer to the consumers.”
In the near future, the brand is aiming to become a significant player in the market, similar to what ITC has achieved in categories like atta, noodles, biscuits, and others, related Rustagi.
Fabelle chocolate are priced in the range of Rs 350 to Rs 1,00,000 in the luxury segment, and Rs 25 to Rs 350 in the mass premium range. So far, it has been catering successfully to consumers across relevant age groups and SECs.
The brand’s media choices have been to sharp target consumers in key geographies using digital as a key medium, Rustagi said. This enables the consumer to get more information and engage with brands directly, especially in the luxury segments. “The digital medium has also worked effectively for us in recent times and continues to do so. Besides digital, positive word of mouth has been a key part of our marketing communication mix in building the brand’s familiarity amongst the larger audience, alongside our new, trendsetting launches like Ruby Gianduja, Trinity Truffles, Fabelle La Terre and work with chocolatiers like Billie Mckay, Sarah Todd, etc have given Fabelle the desired visibility.”
The brand is also using direct marketing to engage with UHNI and HNI consumers and creating customised experiences in gifting and for self-consumption.
Rustagi went on to add, “We also leverage our strong network of boutiques across six metros in the country to drive the consumers’ attention towards the elaborate range of our chocolate offerings.”
He shared that in the initial months of lockdown, the chocolate business was impacted due to the change in consumers’ purchase behaviour. People were more bothered about stocking essentials due to concerns about continued supply, driving demand for the category. Thus, indulgent and non-essential products, including chocolates, were severely hit.
“However, as focus on the purchase of essentials has eased and the availability of goods has improved, consumers have resumed spending on indulgent categories. We are witnessing recovery and are expecting the festive months ahead to augment that momentum.”
Rustagi explained that ITC Ltd’s Q2 report also indicated that the chocolatier is almost at par to the pre-pandemic level. “The economic data pointed towards resurgence and we are also experiencing a week-on-week recovery, and if the same continues, we hope to perform better than last year. If we are able to achieve the same, it will be quite an accomplishment, considering how the majority of the year has been.”
MAM
Filmcity Media CFO Mohit Jain quits; CEO Kirti Vishnu Tiwari takes charge of finance
Board appoints Prabhat Modi as additional director and approves Rs 1.9 crore preferential share issue
MUMBAI: Filmcity Media has reshuffled its top deck. Chief financial officer Mohit Jain has stepped down, prompting the board to hand the finance reins to chief executive Kirti Vishnu Tiwari even as the company lines up fresh capital and new boardroom muscle.
In a regulatory filing to the BSE, Filmcity Media said Jain resigned from the roles of director and chief financial officer with effect from March 11, 2026, to pursue another career opportunity. He ceased to be a key managerial personnel of the company at the close of business on that date.
The board swiftly moved to plug the gap, appointing Kirti Vishnu Tiwari as chief financial officer from March 12, 2026. Tiwari, who already serves as executive director and chief executive, will now hold the combined role of executive director, CEO and CFO, taking charge of the company’s finance function while continuing to lead operations.
The leadership changes were approved by the board following recommendations from the nomination and remuneration committee, with the audit committee also backing Tiwari’s appointment as CFO to ensure governance oversight. Under the arrangement, Tiwari will continue as a key managerial personnel under Section 203 of the Companies Act, 2013.
Filmcity Media also expanded its board, appointing Prabhat Modi as additional director with effect from March 13, 2026, for a term of five years. The appointment, categorised as a non-executive non-independent directorship, will require shareholder approval at the next general meeting.
Modi brings capital market experience to the role. He holds a B.Sc in accounting and finance from the University of Essex in the United Kingdom and a PGDM from the National Institute of Securities Market. His professional experience includes stints at SBI Mutual Fund, BSE India and Morningstar India, where he worked on market research, financial analysis and capital market operations.
Tiwari, meanwhile, brings experience spanning finance, marketing and hospitality. A graduate of Lucknow University, she has previously worked with Hotel Holiday Inn, Hotel Leela Kempenski and Hotel Sea Rock, along with roles at Pawan Hans Helicopter and CBRE South Asia.
Separately, the board also approved a preferential issue of equity shares to members of the promoter and promoter group as well as non-promoter investors. The proposed fundraising, subject to regulatory approvals, is expected to raise up to Rs 1.9 crore.
The company said both appointees meet all regulatory requirements under SEBI regulations and the Companies Act and are not barred by any regulatory authority from holding their positions.
With a new board face, a CEO doubling as CFO and fresh capital on the table, Filmcity Media appears to be tightening its leadership and balance sheet in one swift move.
