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Wonderchef, the cookware and kitchen appliances company, recorded 54 per cent YoY sales growth this festive season equivalent to ₹290 crore majorly as a result of a robust omnichannel distribution strategy and continuous product innovation, said MD Ravi Saxena.
“October and November have been fabulous for us. This October, we did almost 50 per cent higher than last year, and in November, we did about 60 per cent higher than last year.”
At present, boasting a lineup of 400 SKUs, its most recent launches have been in the coffee machines and smart appliances category—which holds huge potential in the country.
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“We need to look at products across the price point and that’s precisely what we have done. We are not just about catering to the premium end; instead we have done value engineering and product development at the lower end as well,” he added.
In terms of the expansion of the coffee machine category, the company is evolving that range with four new machines, which will be sub-segments in the market.
Moreover, in pursuit of becoming a ₹1000 crore brand, it has also strategically tapped into tier two and tier three cities with its varied pricing strategy. The company generated revenue of ₹350 crore in FY23. Looking ahead, it claims a healthy growth trajectory, targeting a turnover of ₹700 crore in FY24 and planning a subsequent 20 per cent growth in the following year.
Beyond its domestic market, the company has also entered the international markets, penetrating countries such as the US, UK, UAE, Saudi Arabia, Bahrain, the Maldives, Mauritius, and Australia. Currently, 2 per cent of its business is derived from overseas markets, where it has found a niche by offering quality at a competitive price point.
Further, the company is set to strengthen its retail presence, aiming to open 50 exclusive stores across India by 2025 while also expanding its footprint to 25,000 multi-brand stores and 3,500 modern trade stores within the next two years.
In terms of its manufacturing capabilities, it is presently working with a 110 factories across the globe.
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