Wipro Consumer Care and Lighting, a division of Wipro Enterprises, has successfully completed the acquisition of three prominent personal wash brands – Jo, Doy, and Bacter Shield – from VVF India, a Mumbai-based company. This acquisition aligns with Wipro’s overarching strategy to expand its footprint in both the premium and sub-premium segments within the consumer goods sector.
Neeraj Khatri, Chief Executive for India and SAARC business at Wipro Consumer Care and Lighting, has highlighted that the integration of these acquired brands into Wipro’s existing portfolio is anticipated to transpire over the next 3 to 4 months. The three brands, Jo, Doy, and Bacter Shield, collectively generated an impressive revenue of Rs 210 crore in the fiscal year 2022-23. Wipro now has ambitious plans to double this figure within the next three years.
This acquisition marks a significant milestone for Wipro, being its 15th since 2003 and the third in the last 12 months. While the exact financial details of the deal remain undisclosed, Wipro underscores its commitment to strategic investments, having invested over $1 billion in various acquisitions over the years.
Vineet Agrawal, CEO of Wipro Consumer Care and Lighting, as well as Managing Director of Wipro Enterprises, expressed confidence in the potential of the acquired brands to complement the existing portfolio and provide a more robust foothold in key markets. The availability of these brands will extend to countries such as India, Nepal, Bhutan, Sri Lanka, Bangladesh, and the Maldives.
Looking ahead, Wipro is eyeing Maharashtra as a potential location for its next manufacturing investment, according to Chief Financial Officer Sachin Bansal. Wipro presently operates manufacturing facilities across India, and the addition of these recently acquired brands aligns seamlessly with its growth strategy in the fast-moving consumer goods (FMCG) industry.
Despite a dip in rural consumption demand below pre-COVID levels, Neeraj Khatri remains optimistic about the current financial year, anticipating that urban India will drive business growth in the FMCG sector. Wipro’s existing portfolio includes well-established brands such as Glucovita, Chandrika, North-West, Unza, Yardley, Bio Essence, and Splash Corporation. Notably, Santoor, Wipro’s flagship brand, holds the distinction of being the second-largest toilet soap brand in India.
Wipro Consumer Care has displayed remarkable resilience and growth, boasting a growth rate exceeding 17% in its Indian market. In the last fiscal year, the division achieved sales exceeding Rs 10,000 crore, cementing its formidable position in the consumer goods sector. This successful acquisition adds to Wipro’s diverse portfolio, enabling the company to capitalize on emerging opportunities and address the evolving demands of the discerning consumer base.
In conclusion, Wipro’s strategic move to acquire Jo, Doy, and Bacter Shield underscores its commitment to staying at the forefront of the consumer goods market. With a track record of strategic investments and a keen focus on expanding its product offerings, Wipro continues to demonstrate its agility and foresight in navigating the dynamic landscape of the FMCG industry. The successful integration of these brands into Wipro’s portfolio is poised to contribute significantly to the company’s growth trajectory and solidify its position as a key player in the consumer care segment.