India's Dubai-chocolate craze matures: SMOOR, FNP, Britannia turn kunafa virality into a premium category
The kunafa/Dubai-chocolate flavour has shifted from a viral moment to a sustained premium retail category. SMOOR sold 2 lakh units at a 35% markup (₹400 vs ₹295), FNP posted 40% QoQ growth at ₹549 and targets 1.5x by FY27, while Swiggy Instamart pistachio-chocolate orders surged 11,739%. Manam raised $9M as brands expand into adjacent lines.
What happened
Kunafa/Dubai-chocolate flavour has evolved from viral trend to a sustained retail category in India, with SMOOR, FNP and Britannia reporting strong
Key facts
- 2 lakh units sold
- 8x sales growth
- SMOOR ₹400 vs ₹295 (35% markup)
- FNP 40% QoQ growth at ₹549
- Swiggy Instamart pistachio chocolate orders +11,739%
- FNP 1.5x growth target FY27
- Manam raised $9M
What to watch
- Pistachio and dairy input price movements (margin sustainability)
- Repeat-purchase vs first-trial ratio on Swiggy/Zepto/Blinkit
- Britannia/Mondelez mass-market launch announcements
- QoQ growth deceleration below 15% signalling fad plateau
- New adjacent SKU launches and their attach rates
- Import/regulatory shifts on pistachio supply
- SMOOR/FNP extend into adjacent formats (spreads, bars, gifting boxes) and lock exclusive quick-commerce merchandising
- Britannia and mass FMCG launch sub-₹150 kunafa/pistachio SKUs to capture volume tier
- Manam deploys $9M raise into pistachio sourcing and cold-chain to hedge input volatility
- Quick-commerce platforms create dedicated 'Dubai chocolate' discovery tiles and festival bundles
- Private-label and D2C entrants clone hero SKUs at value price points