Lotus Bakeries rides Biscoff to ~590% decade stock gain, enters India via Mondelez tie-up
Belgian Biscoff maker Lotus Bakeries' stock surged nearly 590% over 10 years, up 47% YTD. A 2024 partnership with Mondelez lets it manufacture, market and distribute Biscoff in India, tapping Mondelez's domestic network in one of the world's largest biscuit markets. Shares trade at ~46x expected earnings.
What happened
Belgian Biscoff maker Lotus Bakeries' stock surged ~590% in a decade. In 2024 it partnered with Mondelez to manufacture, market and distribute Biscoff biscuits
Key facts
- 590% 10-year stock gain
- 47% YTD
- 17% avg annual revenue growth 2014-2024
- 46x expected earnings
- 2024 partnership
Why this matters
The Mondelez partnership is a template worth studying: pairing a focused premium brand (Biscoff) with a scaled local distributor offers a capital-light playbook for entering high-growth emerging markets.
What to watch
- India revenue disclosure or volume metrics in Lotus quarterly results
- Competitive response from Britannia/Parle in premium biscuit tier
- Multiple compression if YTD momentum reverses at 46x earnings
- Mondelez partnership terms/renewal signals
- Input cost (palm oil, sugar, wheat) and INR FX moves squeezing premium margins
- Watch for local Indian manufacturing facility announcement to manage cost and tariff exposure
- Expect SKU localization (smaller pack sizes, festive packs) to hit Indian price points
- Mondelez to bundle Biscoff into modern-trade and quick-commerce placements
- Lotus likely to extend Biscoff spread and co-branded launches off biscuit base