Kitchenware brand Wonderchef is entering the diningware/homeware segment and has set a target of selling Rs 50 crore in the first year of operations and will invest Rs 100 crore over the next three years towards design and product development.
The company, co-founded by celebrity chef Sanjeev Kapoor and Ravi Saxena in 2009, expects to close this fiscal with Rs 400 crore in topline (revenue), a growth of over 40 percent from FY21 when its revenue stood at Rs 325 crore, Saxena, who is the company's managing director, told PTI on Wednesday.
He also said the company is on course to archive its targeted Rs 1,000-crore revenue mark in the next three years and the new category to contribute at least Rs 200 crore of that.
Saxena said already around 600 dining ware items are on its website and by the end of March, there will be over 2,000 items which will include an extensive range of tableware, barware, cutlery, glasses, linen, serve ware, and dinnerware in bone china, fine bone china, and stoneware. Crystal glasses will be imported from Italy, he added.
On the rationale for entering the new category, he said Wonderchef stands for quality, design and innovation in kitchen appliances.
''We have now decided to provide our customers with the same experience while dining as well with premium homeware items which will be up to 20 percent costlier than the premium products available in the market today,'' he said.
On investment into the new category Saxena said they plan to invest Rs 100 crore over the next three years in designs and marketing of this range.
It has employed 50 designers for the job already to curate our new range of products, he added. It has also roped in Hindi actoress Kriti Sanon as the face of the brand.
Saxena said the homeware range will be marketed as a D2C brand only, while the kitchenwares will continue to be both online and offline with the present ratio of 40:60 as the brand is available across 10,000 stores now. Select designs of the new category will also be made available on partner sites like Nykaa, Myntra, Amazon, and Flipkart.
Wonderchef is available all across India and in over a dozen countries like the US, the UAE, Australia, and Mauritius and Britain.
