| Wipro Consumer Care and Lighting (WCCL) is betting on its strategy of organic and inorganic growth to be among the top 10 players in terms of revenues and profitability in the Rs 45,000 crore FMCG market over the next three years.
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| “We have entered several new product categories like fabric wash, furniture and well being products like isabgol and we would be open towards any acquisition opportunities,” said Vineet Agarwal, president, WCCL.
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| According to Agarwal the company grew its sales in by over 30 per cent in the first nine months of the fiscal and it is on track to achieve a turnover of Rs 500 this year compared to Rs 364 crore in the previous year.
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| “Our growth rate has been amongst the highest in the FMCG industry and we have been helped by the fact that rural offtake has also increased because of the good monsoons this year,” he said.
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| WCCL is also planning brand extensions of its best-selling Santoor soap. It is test marketing santoor fairness cream in Andhra Pradesh and the Isabgol brand Sanjeevani in Uttar Pradesh.
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| “We want to consolidate on the strength of the Santoor brand. It is currently the leading brand in AP and among the top three in Karnataka and Kerala,” said Agarwal.
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| Last year the company acquired the glucose drink brand Glucovita from HLL and the Kerala based-soap brand Chandrika.
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| “Both our acquisitions have performed well as they both have grown by nearly 35 per cent in the first half of the year. WCCL also made a foray into modular the Rs 500 crore modular office furniture market. “Our strategy is to focus on some niche high growth product segments without spreading ourselves thin by expanding our product range in any one particular product category,” he added.
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| Agarwal said that WCCL would be interested in the cosmetic soap brand Mysore Sandal owned by Karnataka Soaps and Detergents, a state owned firm.
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| “But it looks like the government is in no hurry to sell the brand, according to sources the brand valued at more than Rs 50 crore had evoked an interest from another FMCG major Dabur India. |
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