Kwality Walls ditches palm oil: Magnum, Cornetto move to real dairy with 30% price cut
HUL's $200M ice cream arm is reformulating Magnum and Cornetto from frozen desserts to real dairy in India, slashing prices up to 30% and adding local flavors like kulfi and kesar bhog. Targets 1 million cabinets nationwide, with 50% of portfolio shifting this year.
What happened
Kwality Walls is shifting Magnum and Cornetto from palm-oil frozen desserts to real dairy ice cream in India, cutting prices up to 30%, adding local flavors
Key facts
- $200 million India business
- 30% price cut
- 1 million cabinets target
- 50% portfolio shift this year
Why this matters
A demerged $200M ice cream arm aggressively localizing and premiumizing signals India is becoming a strategic standalone bet—expect roll-up opportunities among regional dairy ice cream players and potential cold-chain or kulfi-brand tuck-ins.