Wipro Acquires Three Personal Wash Brands from VVF India
Wipro Consumer Care and Lighting, under the leadership of Azim Premji within Wipro Enterprises, has successfully finalized the acquisition of three personal wash brands Jo, Doy, and Bacter Shield from VVF India, based in Mumbai. This acquisition aligns with Wipro's strategic goal of fortifying its position in the premium and sub-premium segments within the consumer goods market. Neeraj Khatri, the Chief Executive overseeing India and SAARC business, mentioned that integrating these acquired brands into Wipro's portfolio is anticipated to occur within 3-4 months. Combined, these three brands generated a revenue of Rs 210 crore in FY23. Wipro's ambition is to augment this figure twofold within the coming three years.
This represents Wipro's 15th acquisition since 2003 and its third within the past year. While the company has chosen not to disclose the specific financial details of the deal, it reaffirmed its dedication to strategic investments, having committed over $1 billion towards acquisitions thus far. Vineet Agrawal, CEO of Wipro Consumer Care and Lighting and Managing Director of Wipro Enterprises, highlighted that the inclusion of the acquired brands Jo, Doy, and Bacter Shield will complement the current portfolio and establish a stronger presence in pivotal markets. These brands are slated for availability in India, Nepal, Bhutan, Sri Lanka, Bangladesh, and the Maldives.
Looking ahead, Wipro is considering Maharashtra as a potential site for its next manufacturing investment, according to Chief Financial Officer Sachin Bansal. The company presently operates manufacturing facilities throughout India, and the integration of these newly acquired brands aligns with its expansion strategy within the FMCG industry. Despite rural consumption demand lagging behind pre-COVID levels, Neeraj Khatri anticipates that urban India will propel business growth in the FMCG sector during the current fiscal year.
Wipro's portfolio boasts renowned brands such as Glucovita, Chandrika, North-West, Unza, Yardley, Bio Essence, and Splash Corporation, with Santoor as its flagship brand, ranking as the second-largest toilet soap brand in India. Demonstrating a notable growth rate exceeding 17% in the Indian market, Wipro Consumer Care achieved sales exceeding Rs 10,000 crore in the previous fiscal year, solidifying its robust position within the consumer goods industry.
