Wipro Consumer Care will grow well in developing markets: Azim Premji

Wipro Founding Chairman Azim Premji is optimistic about his consumer business. The entity that operates under Wipro Consumer Care & Lighting hit revenues of Rs 10,000 crore in FY23. Driven by its flagship Santoor soap brand, which brought in Rs 2,650 crore, it also has the likes of Yardley, Enchanteur, Chandrika and Softouch as a part of its portfolio. A key part of its story has been a host of acquisitions made both domestically and overseas leading to revenues being equally split between the two markets.  

“At Wipro Consumer Care and Lighting we are largely present in developing markets.  These economies are poised to grow faster than the developed world,” Premji told Business Today. According to him, FMCG will especially grow well in developing markets as per capita consumption is currently low. “We can see this happening in India, Indonesia, Vietnam, and Philippines. India, in particular, is growing fast as the economy is also getting formalised,” said Premji, adding that this offers the business a tremendous opportunity to establish itself as a significant FMCG player both domestically and abroad.   

Wipro Consumer is an unlisted company and was carved out of Wipro around a decade ago. In terms of pecking order, Hindustan Lever (Rs 61,092 crore), Adani Wilmar, ITC (non-cigarette FMCG), Nestle India, Britannia, and Dabur are ahead of it. In 2003, Wipro Consumer had revenues of Rs 300 crore with half of that coming from Santoor.    

“What makes us stand apart is our hunger for growth and the strategic growth steps that we have taken. We have built strong brands in Santoor, Yardley, Chandrika, Enchanteur and Romano,” said Premji. Specifically on the inorganic strategy, his view was that the teams have been successful. “But more than just acquiring the brands, we have significantly grown most of them. This confidence in ensuring the success of our brands acquired demonstrates our adaptability and readiness to pursue new avenues for sustainable growth,” he summed up. 

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