Published Online:June 2026
Product Name:The IUP Journal of Business Strategy
Product Type:Article
Product Code:IJBS020626
DOI:10.71329/IUPJBS/2026.23.2.25-46
Author Name:Anindito Bhattacharya, Ishita Deb and Samarpita Roy
Availability:YES
Subject/Domain:Management
Download Format:PDF
Pages:25-46
Naturals Ice Cream, founded in 1984, by Raghunandan Kamath, grew from a small neighborhood parlor in Mumbai into one of India’s leading premium ice cream brands. Its evolution was built on a simple philosophy of “producing ice cream using only fresh seasonal fruits, milk, and sugar and without any artificial flavors, preservatives, or stabilizers”. This commitment to authenticity fostered strong customer loyalty and a distinctive identity for the brand rooted in freshness, purity, simplicity, and trust, differentiating it amid intense competition from local and global players. However, as Naturals expanded beyond its home market through a growing franchisee network, the practices that created its competitive advantage also generated operational and strategic constraints. The case study examines the dilemma and strategic alternatives confronting Siddhant Kamath, the second-generation leader, as Naturals faced pressures arising from geographic expansion, seasonal sourcing, rising input costs, cold-chain complexities, and intensifying competition.
The arrival of the Alphonso mango had marked the most important period/season in the annual business calendar of Naturals Ice Cream (Naturals) since its inception (Figure 1). During this time, every year, almost all the teams of the company, including procurement, production, marketing, and franchise, started planning and organizing their activities around the availability of fresh Alphonso mangoes since this seasonal ingredient had become synonymous with brand Naturals over the decades (Figure 2).