Industry News

Sanjeev Kapoor Promoted Company Wonderchef target INR 135 Crores Sales

According to recent report published by TechSci Research “India Electric Kitchen Appliances Market Forecast & Opportunities, 2020”, the electric kitchen appliances market in India is projected to grow at a CAGR of more than 29% during 2015 – 2020. Western region accounted for the largest market share in 2014, followed by Southern, Northern and Eastern regions of the country. In 2014, induction cooktop was the largest segment in the country’s electric kitchen appliances market, followed by electric chimneys, microwaves and electric cookers.

Kitchen Ware and Appliances company Wonderchef, expects to generate revenue worth INR 135 Crores this fiscal year. The company will also manufacture its product in India starting this year either through acquisition or through setting up their own factory.

Presently, the company manufactures the products on contractual basis from different companies globally. Also, the company has plans to open physical stores in key metros in India. Company is eying 60 percent revenue growth this year and expects to maintain 50 percent growth till 2020.

According to TechSci Research, company’s move to open physical stores in Key metros is an effective strategic decision which will help them to capture the share both in click and mortar and brick and mortar form.

India’s organized branded cookware market estimated worth INR3500 Crores is majorly dominated by players like Hawkins and Prestige. The entry of Wonderchef will have some effect on existing players market share provided wonderchef provide high quality products.