Wonderchef, the cookware and appliances brand, announced a robust growth of 122 per cent in the first quarter of financial year 2022. The net sales of the company was INR 940 million, a 122 per cent increase from the corresponding quarter of FY 21.
Wonderchef, promoted by celebrity Chef Sanjeev Kapoor and serial entrepreneur Ravi Saxena, clocked brand sales of around INR 3620 million in FY 21.
Elated over the impressive growth, Saxena said, “We are pleased with our performance in the first quarter of FY 22, which is in sync with our target for the year’s plan. We outperformed in the majority of our categories in both pure-play and omnichannel e-commerce, where there was strong demand, and we continue to gain market share across most of our channels.”
Company’s share of sales from digital channels has increased to 50 percent as compared to 30 percent from previous years.
- Recorded brand sales of INR 940 million in Q1 FY22
- Clocked business of INR 3620 million in FY21
- Eyeing 45 per cent growth in FY 22
The company has increased its presence in Tier II & III cities due to focus on e-commerce platforms, and regular general trade channels. It is now planning to expand in these cities by launching customised products keeping in mind the aspiration of consumers.
“Over the last year, we have seen premium customers opt for quality and design, directly benefiting Wonderchef. It seems people have discovered their kitchen and fallen in love with it. We at Wonderchef have pivoted to a D2C model wherein the growth is primarily coming from digital channels including our own website. Our social media assets outstrip everyone else in the industry and give us leverage in crafting a strong digital vision for the brand” added Saxena.
Despite a disruption due to the pandemic, Wonderchef recorded impressive growth, riding high on its digital channels which helped in increased sales of branded cookware, food prep tools, OTGs, and healthy cooking appliances like air fryer and cold-pressed juicers.
The strong top-line growth and focus on cost control have also helped the company register a healthy bottom – line. With this promising growth in the first quarter, the company is looking forward to a 45 percent increase in the annual business.