Comments
Private equity firm Amicus Capital has invested about ₹70 crore for a 10 per cent stake in kitchen appliances and cookware brand Wonderchef, founded by industry veteran Ravi Saxena and celebrity chef Sanjeev Kapoor.
Wonderchef plans to use the funds for expansion that will help the company increase its sales to ₹600 crore over the next five years.
“Wonderchef has demonstrated industry-leading growth in the past five years to emerge as a top player in the cookware and kitchen-appliance category. Amicus Capital understands our category and shares our vision as we embark on our next phase of aggressive growth,” said Ravi Saxena, MD, Wonderchef.
WonderChef is present across the country through multiple channels including exclusive outlets, 735 department stores, over 7,000 traditional stores, direct marketing network of 50,000 women entrepreneurs, as well as on its own retail website.
The company plans to expand its retail distribution reach integrated manufacturing, assembly and warehousing facility, besides adding new product lines and segments.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.