MAM

Creambell ice cream shuts down

Due to adverse marketing conditions

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MUMBAI: An ice cream brand has announced the shutting of business on account of the adverse market conditions. Creambell ice cream, a brand from the New Delhi-headquartered Devyani Food Industries Ltd (RJ Corp), has announced the shutting down of its ice cream plant.  

It has issued a notice of closure under section 25 FFA (rule 76A).  

In the notice, the company said that the ice cream market “has been fiercely competitive and demand for our products have been falling for the past few years. This has resulted in serious financial hardship for the business. This got further aggravated by the severely adverse prevailing market conditions. A combination of these factors has made running of operations of the plant completely unviable.”

The company also announced that the uncertainties associated with hardships created by Covid2019 pandemic have further aggravated the situation and brought the plant operations to a point of no return.

“After evaluating the situation carefully, the company has come to a final conclusion that financially it is not viable to run this plant, and therefore, we have decided to close it down permanently.”

The notice said that the plant will therefore stand closed on 6 July 2020. It also informed that all employees of the plant will be paid their accrued entitlements and outstanding dues.  

It was in 2003 that RJ Corporation brought Creambell ice cream to India in technical collaboration with French Dairy major Candia. It boasted 15 per cent market share in the ice cream industry, marking its presence in 19 states.

Creambell had manufacturing plants in Goa, Agra and Asansol, and 35,000 retail outlets across India.

For many years, Creambell has been the recipient of the highest honour at the "Great Indian Ice Cream Contest" conducted by Indian Dairy Association and DANISCO. Out of 48 major Ice Cream brands in India, awards are announced in eight categories, Creambell has won 27 awards in all India Ice Cream contest conducted by Indian Dairy Association and Danisco. 

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