Orion Choco Pie Reaches KRW 2 Trillion in Cumulative Sales in Russia
Result achieved in just four years after reaching KRW 1 trillion
Annual sales expected to grow 43% this year
Production capacity to double within two years
It seems certain that Orion, spearheaded by Choco Pie, will surpass KRW 2 trillion in cumulative sales in the Russian market this year. It took 17 years to reach KRW 1 trillion in cumulative sales, but it has now reached KRW 2 trillion in just four years, and is expected to exceed KRW 3 trillion by 2028, showing rapid growth. The company plans to diversity its product line beyond Choco Pie, which once dominated over 90% of its Russian product line, with biscuits and jellies. It also plans to double its product capacity by 2027, further strengthening its market dominance.
Orion’s sales in Russia have been growing rapidly since 2020. Annual sales in Russia, which stood at KRW 89 billion in 2020, increased significantly with the launch of the new plant in Tver in 2022, reaching KRW 200.3 billion in 2023, and KRW 230.5 billion in 2024. This year, cumulative sales for the first three quarters reached KRW 237.6 billion, already surpassing last year’s level.
Orion produces and sells ten varieties of Choco Pie in Russia, the largest number among its overseas subsidiaries. Last year, 1.6 billion Choco Pies, which accounts for 40% of Orion’s global sales, were sold in Russia.
Orion has also decided to build another factory to meet the growing demand for Choco Pie in Russia. The company will invest a total of KRW 240 billion to build a new factory building within its new plant in Tver. This is the first additional investment in three years since the new plant in Tver began operations. This investment will build 16 new production lines, not only for its main product Choco Pie but also for biscuits, snacks, and jellies. By 2027, when the new production lines are completed, annual production will double to approximately KRW 750 billion.
Currently, China accounts for 40% of Orion’s overseas operations, Vietnam 14%, and Russia 10%. Korea accounts for the remaining 36%.
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