Kitchenware and appliances company Wonderchef has received an investment of US $5 million French group Labruyere Eberle.
“This is a strategic partnership and the Group is investing upto USD 5 million over the next two years in Wonderchef to support us in our growth,” Managing Director, Wonderchef, Ravi Saxena said in a statement.
The company, promoted by celebrity Chef Sanjeev Kapoor, plans to utilise the investment to setup manufacturing unit in the country and exclusive retail outlets, besides strengthening its brand.
“Wonderchef would use the first round of investment from France for strengthening its brand via traditional and new-age media. Further investment would be used for expansion of manufacturing facilities in India,” the statement said.
Commenting on the investment, CEO, Labruyere Eberle, Vincent Labruyere said, “We want to focus our investments towards growing companies in consumer goods industry in India and Wonderchef perfectly fits with this strategy. We intend to begin our partnership with Wonderchef on a positive note and go a long way in growing its business in India. For this, we plan to add to our investments in the company in coming years.”