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.