The kitchenware industry is evolving at a fast clip. Once an unorganized sector, the kitchenware sector today is witnessing emergence of many new brands. The growth seems to be in upward trajectory due to continuous technological advancement and evolving lifestyles. The Make in India initiative of the government has also attracted the investors.
As of now, as per several reports the revenue of the household appliances industry in India amounts to be US$1,678 million and is expected to grow at 13.9%. The user penetration rate is expected to increase to 21.8% in next five years, as compared to 13.4% of 2019. This increasing demand for quality kitchenware in the Indian market inspired Mr. Ravi Saxena to venture into the domain and start 'Wonderchef', a company offering stylish and convenient cookware and kitchen appliances. The other co-founder of 'Wonderchef' is well-known chef Sanjeev Kapoor, who contributes his rich experience to bring about the best of kitchen appliances to the Indian consumers.
Read More about Wonderchef Company Profile, Founders, Revenue, Funding, Growth etc.,
Wonderchef Highlights
| Startup Name | Wonderchef Home Appliance Pvt. Ltd |
|---|---|
| Head Quarter (city) | Mumbai |
| Founder/s Name | Mr. Ravi Saxena, Mr. Sanjeev Kapoor |
| Sector | Consumer Durables – Cookware & Appliances |
| Founding Year | 2009 |
| Website link | www.wonderchef.com |
| Registered company Name | Wonderchef Home Appliances Pvt. Ltd |
About Wonderchef and How it Works
Wonderchef - Founders and Team
How was Wonderchef Started
Wonderchef - Name, Tagline and Logo
Wonderchef - User Acquisition
Wonderchef - Startup Challenge
Wonderchef - Revenue
Wonderchef - Funding and Investors
Wonderchef - Future Plans
Wonderchef - FAQs
About Wonderchef and How it Works
Wonderchef is a leader in cookware and kitchen appliances that helps you cook healthy and tasty food with convenience. German standards of quality, Italian designs, & constant innovation are the hallmarks of Wonderchef. It brings warmth to every meal by creating a perfect blend of aesthetics and functionality.
We are inspired by global trends to create beautiful kitchen stories that bring out the culinary artist in you! - says Wonderchef founder Ravi Saxena
Wonderchef offers a huge collection of non-stick cookware, stainless steel pans, pressure cookers, appliances, cooktops, chimneys, kitchen tools, flasks, bakeware and much more which are available through their dedicated website and 10,000+ retail outlets. What makes Wonderchef special is the customized recipes that are created for every unique product by none other than Chef Sanjeev Kapoor. These are shared with the consumers via beautifully crafted recipe books, social media interactions, and dedicated apps.
Wonderchef balances between the form and function of the particular appliance, be it choice of design, material, technology or production process. This helps them curate products which impeccably transition from kitchen to the table. Wonderchef prides itself in getting new ideas, solutions, & technologies to the market. Wonderchef Royal Velvet Pans brought forth a revolution of fresh hues & colors in non-stick cookware. Wonderchef has changed the perception of cookware from black & boring to colorful & exciting. They have over 25 color palettes form the repertoire of Wonderchef pans.
Our customers often match their cookware to the hue of their kitchen cabinets, setting of their living room or the color of their curtains. Our products are made for making beautiful memories in the kitchen & on your dining table
Being, beautifully designed, the customers love to share the Wonderchef products as treasured gifts. Every product comes in a beautifully designed gift box. Uniqueness, attractive prices and classy designs make them the best choice for gifting. Be it a housewarming party, a birth-day, a wedding or an anniversary, Wonderchef have the perfect gift for every occasion. Wonderchef sets and blenders are the perfect gifts when a young couple sets.
StartupTalky
Wonderchef - Founders and Team
Mr. Ravi Saxena is the Managing Director and founder of Wonderchef whereas Chef Sanjeev Kapoor is its Co-founder.
How was Wonderchef Started
Wonderchef was an idea that emanated from Ravi Saxena's interactions with Indians, whom he interacted with in over 65 countries when he traveled for work. These insights helped him identify certain latent needs that became the cornerstone of the business model of the company. The credibility Ravi had earned during his years of work helped him raise investment from across the globe from fellow professionals who trusted his skill sets and commitment.
Wonderchef was started with a vision to bring in a change in quality, performance and style of kitchenware used in Indian kitchens and in our journey so far we have achieved this. Every product of Wonderchef has its unique story of health, taste and convenience.
The passion to contribute to the growth of society and entrepreneurship in India led to the focus on DTH channel of supplying Wonderchef products. This DTH (direct to home) channel, now engages over 62,000 independent women across 12000 cities in India.
At Wonderchef, the core belief of the brand is to enable every Indian kitchen to cook tasty meals without any compromise on health. Along with this, we have always believed in empowering women by enabling them to create their own business and cook healthy for their families, with pride.
StartupTalky
Wonderchef - Name, Tagline and Logo
Wonderchef – the name highlights the innovation, modern designs and colourful kitchenware which they sell. Thus making anyone cooking with them a Wonderchef. Their products make cooking a wonderful experience!
'Cook with Pride' is Wonderchef's tagline.
As per our detailed study, Indian women consider cooking a daily chore and don’t get recognized for the same. We wanted to add purpose and pride to this daily activity with quality and colourful cookware. Hence Cook with Pride.
Wonderchef's logo is an amalgamation of a chef’s hat and the W of Wonderchef logo, making it look like a star, which they consider themselves to be one.
Wonderchef - User Acquisition
The focus on technology and innovation ensured that a new brand was able to cut through the clutter in a rather traditional industry, and became the company that took the shortest time to grow from zero to 200 Cr. level in the industry. Today, Wonderchef has a truly omni-channel distribution strategy with a 360 degree approach to target consumers.
Wonderchef team believes that the point of purchase is only the beginning of the relationship. Their reliable warranty ensures that the customers continue to get their support long after their purchase. If the customers have a doubt or question about how to care for the product – Wonderchef provides them with customer service and they are always eager to hear from the customers.
Wonderchef - Startup Challenge
Success never comes easy, and initially the Wonderchef team also faced its share of tough times.
I have to sit back and think of the hard times we had for a number of years, to really appreciate what we have today with us - Ravi says recalling the tough times
The company did everything to survive in the initial period which coincided with the global financial meltdown. It offered financial consulting services, strategy solutions, culinary classes, employee engagement services and a few other solutions to be able to pay the bills. Working capital was always in short supply as growth continued year after year. Building a team was also a long, arduous process and thus a challenge for the founding team.
StartupTalky
Wonderchef - Revenue
Wonderchef revenue in FY19 was Rs 300 crore It is aiming for a revenue of Rs 800 crore in next five years.
"We are in 4,000 towns and villages at present. In terms of business, about 70 percent comes from the urban areas and 30 percent from rural areas" Says Ravi Saxena, MD & Co-founder, Wonderchef
Wonderchef - Funding and Investors
Wonderchef raised funding worth Rs 110 Cr. in two rounds till date.
| Date | Stage | Amount | Investors Name |
|---|---|---|---|
| June '18 | Series B | INR 60 Cr. | Amicus Capital |
| June '15 | Series A | INR 50 Cr. | Capvent |
Funding has helped Wonderchef invest in marketing, hire the right resources and set up the right infrastructure to facilitate future growth.
Wonderchef - Future Plans
Wonderchef has clocked revenue of 300+ Cr. in the last financial year and is growing faster than the category with a healthy bottom line. The company plans to clock in 1000 Cr. in next five years, profitable growth and does not believe in cash burn. Most of the profit is reinvested in marketing, service infrastructure and hiring the best talent.
Today, Wonderchef operates across India and 4 other nations (Australia, Mauritius, US, UK) and cater not only to the Indian diaspora but also to the locals with customized offerings suiting their needs.
Wonderchef - FAQs
Who is the Founder/Owner of Wonderchef?
Ravi Saxena and Chef Sanjeev Kapoor are the founders of Wonderchef
Is Wonderchef Indian Brand?
Yes. Wonderchef is based out of Mumbai, India
What type of Products does Wonderchef offer?
The product range of Wonderchef ranges from Cookers, Mixed grinders, cookware, appliances to Chimneys, flasks, Kitchen care etc., Wonderchef is a leader in cookware and kitchen appliances.
How much is Wonderchef's Revenue?
Wonderchef revenue in FY19 was Rs 300 crore It is aiming for a revenue of Rs 800 crore in next five years.
Who is Sanjeev Kapoor?
Sanjeev Kapoor is an Indian celebrity chef, entrepreneur and television personality. He is the Co-founder of Wonderchef.
Author: Chayanika Goswami
Source : https://startuptalky.com/wonderchef-success-story/
Date : 2020-08-31T21:55:00.000Z