Wonderchef aims to clock a turnover of ₹1,000 crore in 5 years

Premium kitchen appliances company Wonderchef, co-owned by celebrity chef Sanjeev Kapoor and entrepreneur Ravi Saxena, is eyeing a turnover of about ₹1,000 crore in the next five years. It is expected to post a revenue of around ₹300 crore this year.

The key growth engine to clock a revenue of ₹1,000 crore will be an expansion of the outlets Wonderchef is available in, Saxena, Managing Director, Wonderchef, told BusinessLine .

“The Wonderchef brand is only about six years old in India. So, we have just scratched the surface of the distribution network. If the distribution expands, the turnover (of ₹1,000 crore) would come. The brand is made, people know the brand, they love the brand and trust the brand. Now it’s only a question of making it available more and more,” he said.

Wonderchef is looking at opening a plant for making cookware in the future, he said. Currently, it has one manufacturing plant in Baddi, Himachal Pradesh, which makes nutri-blenders.

Wonderchef is also looking at raising more funds. It has raised funds through two rounds so far, through Series A in 2015, which amounted to ₹50 crore. Series B was in 2018, which amounted to ₹60 crore.

Wonderchef has identified the cookware and kitchen appliances market to be around ₹22,000 crore strong, and it currently has a market share of 1.5 per cent.

Present across 11,200 outlets now, Wonderchef plans to expand its reach to 55,000 outlets in the next five years, he said. The core focus of this expansion plan will be to increase the number of its own outlets or exclusive outlets to a total of 100 in the next three years. Currently, it has 22 outlets, which have been started on trial basis, he said. Exclusive outlets will help bolstering sales and brand building, he said, The brand has over 500 stock keeping units (SKU) and in an exclusive outlet, it will be able to showcase all of them, he added.

As for general trade outlets, it is present in around 10,000 outlets, and is eyeing to increase this to around 50,000 in the next three to five years. E-commerce platforms, which currently contribute around 20 per cent to its business, can also go up to contributing over 25 per cent in five years, he added. As for its presence in modern trade, Wonderchef is available in around 1,200 outlets, and it is looking at increasing its product offerings in such outlets, he said.

Wonderchef is distributed across 4,000 towns in India through all these outlets combined, said Saxena.

Other plans to clock a revenue of ₹1000 crore in five years will include product innovations as well as introduction of new concepts concerning products, he said. Investments in the next few years will be directed towards distribution and brand building.

Outside India, the firm is present in over 10 countries, which includes the UK, the US, Canada, Mauritius and Dubai. This presence is through a combination of retail and e-commerce channels. It is planning to enter other markets like Singapore, Malaysia, Indonesia, Cambodia, Vietnam and a number of African countries soon.

Wonderchef had recently forayed into water heaters. Diversification within the food or kitchen category is on the table, said Saxena.

In the future, Wonderchef may foray into tableware, which includes mugs and dinnerware. Kitchen fans, focus fans, and kitchen exhaust are the other categories it is eyeing, he said.