Indian kitchen appliances brand Wonderchef has announced a $10m investment plan to bolster its global market presence, the Economic Times Retail (ETRetail) has reported.
The investment, spread over two years up to 2026, will focus on the US and Canada.
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The company, which operates four manufacturing units in India, will utilise $1m on improving its manufacturing and branding capabilities, as Wonderchef co-founder and CEO Ravi Saxena stated during an interview with ETRetail.
Wonderchef specialises in manufacturing a range of products including Nutri-blend appliances, fans and mixer grinders.
The new investment will go towards scaling production to address growing consumer demand.
In addition to manufacturing, the brand will expand its retail footprint with 50 new exclusive brand outlets (EBOs) in India up to 2026.
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By GlobalDataThe expansion strategy follows the opening of its largest EBO in Gaur City Mall, Greater Noida.
The brand also plans to enhance its presence in multi-brand and modern trade stores, targeting 30,000 multi-brand and 4,000 modern trade outlets.
Wonderchef recently launched an all-in-one kitchen robot, Chef Magic, to address the needs of tech-savvy consumers.
ETRetail quoted Ravi Saxena: “We are excited to bring cutting-edge products like Chef Magic closer to consumers across the globe.”
In its fiscal 2024 result, the company reported a 25% year-on-year growth rate, with brand sales hitting Rs7bn ($83m).
With its latest expansion plan, it aims to reach Rs10bn in brand sales by 2026.
Wonderchef was co-founded by Ravi Saxena and Chef Sanjeev Kapoor in in 2009 and currently has a presence in 15 countries.
The investment announcement closely follows the announcement from Indian accessory brand Baggit of its plan to re-enter international markets through strategic local partnerships.
