New Delhi: Wonderchef, a kitchen appliances maker, is planning to invest USD 10 million in the next two years to expand its presence in global markets including the US and Canada. In an interview with ETRetail, Ravi Saxena, Founder and CEO of Wonderchef, said that approximately $1 million of this investment will be allocated towards enhancing manufacturing capabilities and branding efforts.
The company currently operates four manufacturing units in India, producing a range of products such as Nutri-blend appliances, fans, and mixer grinders. The planned investment will focus on increasing production capacity across these units to meet growing demand.
In line with its expansion strategy, the company has also planned to open 50 exclusive brand outlets (EBOs) across India within the next two years. This follows the recent launch of its largest EBO in India, located in Gaur City Mall, Greater Noida.
Furthermore, the kitchen appliances maker aims to increase its presence in multi-brand stores and modern trade outlets, targeting 30,000 multi-brand stores and 4,000 modern trade stores in the next two years.
Focusing on innovation and catering to tech-savvy consumers, Wonderchef recently launched Chef Magic, an all-in-one kitchen robot. Saxena said, “We are excited to bring such cutting-edge products like Chef Magic closer to consumers across the globe.”
The company shared that it has witnessed a 25 per cent year-on-year (YoY) growth rate in the last fiscal year of 2024, with brand sales reaching Rs 700 crore. It aims to cross the Rs 1000 crore mark in brand sales in 2026 as it plans portfolio expansion in addition to Chef Magic.
Established in 2009 by Ravi Saxena and Chef Sanjeev Kapoor, the brand has a presence in over 15 countries and looks to continue expanding its business globally.