WayCool floats new entity BrandsNext to drive FMCG business

WayCool Foods Managing Director Karthik Jayaraman and BrandsNext Chief Executive Officer B.P. Ravindran on the launch of new entity to drive FMCG business.

WayCool Foods and Products Pvt. Ltd. has drawn up plans to double its income from the fast-paced shopper packaged items (FMCG) business to over ₹800 crore throughout the present fiscal.

To this impact, the meals and agri-tech platform has floated an entirely owned subsidiary known as WayCool BrandsNext Pvt. Ltd., that might be headed by B.P. Ravindran as CEO.

“BrandsNext will own all the three core brands such as Madhuram (a quality rice brand), Kitchenji (a premium staples brand) and Freshey’s (value added products). Last fiscal, all these brands contributed over ₹400 crore and this year, we are aiming to double it,” stated Karthik Jayaraman, MD, WayCool.

“Our immediate focus will be to build brand with home makers, increase retailers trust, enter new geographies within south India and develop new products,” stated Mr. Ravindran.

According to him, the corporate has deliberate to launch a funnel of new merchandise throughout the present fiscal by holding in thoughts the customers curiosity within the meals section, worth added dairy merchandise and speciality rice.

Asserting that their focus could be on the 4 southern states, he stated plans had been on to enhance the variety of dealerships to 1.6 lakh from 60,000, ramp up distributors from 355 to 780 and add 10 extra distribution hubs to the prevailing 40 numbers.

Last 12 months, WayCool clocked a income of ₹1,800 crore, of which FMCG contributed ₹400 crore, vegatables and fruits ₹1,000 crore and unbraded commodities ₹400 crore, Mr. Jayaraman stated.

WayCool was began throughout 2015 by Sanjay Dasari and Mr. Jayaraman to give attention to meals improvement and distribution. The firm leverages modern expertise to scale and function a posh provide chain from soil to sale business.