Chef Sanjeev Kapoor backed Wonderchef eyes Rs 820 cr revenue in FY25
Celebrity chef Sanjeev Kapoor-backed kitchen appliances brand Wonderchef aims to reach a revenue target of Rs 820 crore in FY25, said its founder and CEO Ravi Saxena.
Saxena, on the sidelines of the launch of the cooking robot Chef Magic at the Consumer Electronics World Expo, said the homegrown brand has positioned itself at the top of the ladder in premium and innovative appliances.
“In FY24, we posted sales of about Rs 700 crore, and we are planning to touch about Rs 820 crore in FY25, on account of new product ranges, distribution expansion, and the e-commerce segment — which brings in about 30 per cent of sales for the company,” he told PTI.
Saxena further said Wonderchef is planning to list its IPO in 2026.
Chef Magic is an all-in-one kitchen robot that enables fully automatic cooking.
Loaded with over 200 in-built recipes across cuisines by Chef Sanjeev Kapoor, the IoT-enabled interface will feed in new recipes every week.
Saxena said he drew the inspiration for Chef Magic from Europe and customised it to suit Indian cooking. The “ultimate kitchen appliance” has already received over 1,000 pre-bookings in a month, indicating a shift in consumer behaviour in India, he said.
“We are confident of achieving Rs 200 crore in sales from Chef Magic in 3 years. This product will be leveraged strategically to further strengthen our foothold in overseas markets and we will be servicing the global markets from June this year,” he said.
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First Published: Jun 06 2024 | 10:55 PM IST