Frosty Boy enters Indian export market with Café Coffee Day partnership
Frosty boy, an Australian frozen dessert maker, has inked a deal with one of India’s largest coffee chains, Café Coffee Day, in a bid to push into the India food market.
According to Business News Australia, the deal comes after a four-year campaign to get its product into the country, with the Indian food industry valued at around US$50bn.
The Indian coffee chain will now serve its milkshakes using Frosty Boys’ formulated milkshake blend.
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“Since Frosty Boy began exporting in 2001, there's never been a country more difficult to crack than India," Managing Director Dirk Pretorius told Business Chief Australia.
"The main challenges have been import duties, which can be up to 50 per cent, a very different business culture to us, plus they are understandably very protective of their own industry."
Pretorious said that the deal came about thanks to the company’s extensive market research on the Indian market.
"This included our leadership team spending quality time in India to build knowledge of the local QSR industry and how our products could best be implemented, and we have full-time personnel on the ground to support this ongoing," he added.
Established in 1976, the Australian company manufactures the equivalent of two million serves of soft serve ice cream per day and exports to over 50 countries, with 75% of sales attributed to exports.
Business Chief Legend: Ho Ching, CEO of Temasek
Ask Singaporeans who Ho Ching is, and the majority will answer the ‘wife of Prime Minister Lee Hsien Loong’. And that’s certainly true. However, she’s also the CEO of Temasek Holdings, Singapore’s sovereign wealth fund, and one of the world’s largest investment companies.
Well, she is until October 1, 2021, as she recently announced she would be retiring following 16 years as CEO of the investment giant.
Since taking the reins in 2004, two years after joining Temasek as Executive Director, Ho has gradually transformed what was an investment firm wholly owned by Singapore’s Government into an active investor worldwide, splashing out on sectors like life sciences and tech, expanding its physical footprint with 11 offices worldwide (from London to Mumbai to San Francisco) and delivering growth of US$120 billion between 2010-2020.
Described by Temasek chairman Lim Boon Heng as having taken “bold steps to open new pathways in finding the character of the organisations”, Ho is credited with building Temasek’s international portfolio, with China recently surpassing Singapore for the first time.
As global a footprint as Ho may have however, she has her feet firmly planted on Singapore soil and is committed to this tiny city-state where she was not only educated (excluding a year at Stanford) but has remained throughout her long and illustrious career – first as an engineer at the Ministry of Defence in 1976, where she met her husband, and most notably as CEO of Singapore Technologies, where she spent a decade, and where she is credited with repositioning and growing the group into the largest listed defence engineering company in Asia.
It’s little wonder Ho has featured on Forbes’ annual World’s Most Powerful Women list for the past 16 years, in 2007 as the third most powerful woman in business outside the US, and in 2020 at #30 worldwide.
But it’s not all business. Ho has a strong track record in Singapore public service, serving as chairman of the Singapore Institute of Standards and Industrial Research and as deputy chairman of the Economic Development Board; and is a committed philanthropist with a focus on learning difficulties and healthcare.
As the pandemic kicked off, she not only led active investments in technology and life sciences, with German COVID-19 vaccine developer BioNTech among the most recent additions to Temasek’s portfolio, but through the Temasek Foundation – the firm’s philanthropic arm which supports vulnerable groups close to Ho’s heart, handed out hand sanitiser and face masks.
So, you would be forgiven for thinking that at age 68, Ho might simply relax. But in March 2021, just as she announced her retirement from Temasek, Ho joined the Board of Directors of Wellcome Leap, a US-based non-profit organisation that’s dedicated to accelerating innovations in global health. Not ready to put her firmly grounded feet up yet it seems.