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Wonderchef, a cookware and kitchenware appliance company, plans to expand its domestic and overseas business in the next three years and aims to increase its turnover to ₹1,000 crore.
“We are on an aggressive growth path; from ₹400 crore we want to reach ₹1,000 crore in the next three years,” said Ravi Saxena, CEO and co-founder, Wonderchef.
Saxena told BusinessLine that with an increased demand for its products, the kitchen appliance major plans to expand to ten more countries—”will be opening distribution in at least ten new countries in North America, the Middle East, and Southeast Asia in the next two years.”
He added that the business in India is evenly balanced, with all the four geographical zones contributing almost equally to the business. but expects the south zone to be the next big thing for the company. “The Southern market is big, with our distribution in the South doing well, especially in Tamil Nadu and Kerala. My feeling is that in two years’ time, the South Zone will be a bigger zone for us. “
Wonderchef has a line of products to be launched in the coming months. The company, which has already launched three coffee makers, plans to launch three more in July this year along with other products.
New service
“Currently, direct-to-home service is about seven per cent of our sales, which we expect to go up by 20 per cent in the coming years.” He explained that one of the main strategies behind the direct-to-home service is to generate leads and use them for a better reach in the market. “From this service, our main target market is the tier-three and tier-four cities,” he added.
The direct-to-home service was launched two months ago. Customers can book a demo session for the product of interest at their homes.
Despite the growing business, the company feels the impact of rising inflation and a shortage of raw materials. Saxena said that the consumer durable industry is sensitive to the commodity process. “One challenge that the consumer and consumer durable industry is facing is the commodity prices; the prices of raw materials such as aluminium, plastics, iron, etc. have gone through the roof.”
To reduce its dependency on imports of raw materials, Wonderchef has increased its product manufacturing in India by 80 per cent, “A lot of our products used to be made in Europe, Korea, and China. But over the last few years, we have invested in local manufacturers and vendors, and now 80 per cent of products are made in India. “
Wonderchef is an Indian cookware and kitchen appliances company. Its products are available in over 10,000 retail outlets across the country and are also present on major e-commerce platforms.
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