Premium Kitchenware Company Wonderchef is all set to raise Rs 100 cr in coming fiscal year 2016-17. The kitchenware company has launched 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 years,” shared Ravi Saxena of Winderchef.
Started by Saxena and Chef Sanjeev Kapoor in 2009, the group is also planning to open 100 stores by 2020 through self-owned and franchisee model.
“At first, we grew with our own funds and we focused on building a robust business model,” pointed 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 per cent 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,” added Saxena. 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”, said Chef Sanjeev Kapoor. 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.