Wipro Journey: From ‘FMCG To IT’, Now Launching Fast-Moving Consumer Goods
The article discusses Wipro Consumer Care & Lighting’s journey to achieve a revenue of Rs 10,000 crore, emphasizing its international expansion and focus on the food sector. In 2007, CEO Vineet Agrawal faced challenges while closing the buyout of Unza Holdings in China, marking Wipro’s entry into foreign acquisitions.
Wipro Consumer Care & Lighting, a division of Wipro Enterprises, expanded into foreign buyouts to compete with rivals like Godrej and Marico. Unza Holdings was their first significant acquisition at $246 million.
The article highlights Wipro Consumer’s ambition to grow in the food industry, notably spices and snacks, which offer substantial market potential. CEO Vineet Agrawal underlines their interest in the Indian market, where the size and scale of the food industry differ significantly from other sectors.
Wipro Consumer Care & Lighting’s impressive growth is noted, with revenues reaching Rs 10,014 crore in 2022-23, positioning it among India’s major FMCG companies. The division has a strong presence in both domestic and international markets, thanks to the acquisition of Unza.
Azim Premji, Wipro’s Founding Chairman, attributes their success to a hunger for growth and strategic steps, including successful acquisitions and brand building. Santoor, a brand that initially struggled, now contributes significantly to their revenue.
In summary, the article highlights Wipro Consumer Care & Lighting’s evolution into a major player in the FMCG sector, driven by international expansion and a strategic focus on the food industry, with Santoor being a notable success story in their portfolio.
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