Premium Kitchenware Company Wonderchef will explore fresh round of funding to expand its footprint through Exclusive Brand Stores, as shared by Ravi Saxena, the Managing Director of company. It sets to raise Rs. 100 cr in coming fiscal year 2016-17.
Wonderchef launches its First Exclusive Brand Store at Linking Road Bandra in Mumbai after successfully establishing the Brand through omni-channel distribution network including TV, E-commerce, Retail Stores and Direct Marketing
“This is the first amongst the 5 Exclusive Brand Stores that we intend to set up in the coming year. Wonderchef plans to open 100 stores by 2020 through self-owned and franchisee model,” Ravi Saxena said.
The company was started by Ravi Saxena and Chef Sanjeev Kapoor in 2009. “At first, we grew with our own funds and we focused on building a robust business model.” Says Ravi Saxena. Capvent, a Zurich based Private Equity fund invested in the Company last year. These funds enabled the company to grow substantially by more than 80% within a short span of ten months. The investment made has been appropriately deployed in expansion of the organization, enhancing penetration of the distribution channels and in strengthening the brand. We are now ready for a fresh round of funding which will take the business to the next level,” Ravi adds.
Wonderchef, which has set a revenue target of Rs 500 crore by 2020, is already positioned as the most Premium Kitchenware Brand in India. “Our own Exclusive Brand Stores represent the Brand Philosophy of Making Kitchen the Centre of Goodness and Wellness in every home”, says Chef Sanjeev Kapoor. He adds, “Just like our cookware and appliances, our store also is premium, colourful, lively and designed aesthetically. In keeping with the philosophy of Wonderchef, our Exclusive Brand Stores would have regular demos and learning sessions for our customers.”
Wonderchef was launched with the vision of empowering women to Cook healthy and conveniently for their family and loved ones. The Company also enables over 45,0000 women to do independent business by demonstrating and marketing its products.
