March 6, 2021
Wagh Bakri, the Gujarat based tea company is expanding prominently and is targeting 15 percent revenue growth next fiscal to Rs 1,600 crore.
Wagh Bakri also purposes to strengthen its distribution network in tier 1 and 11 cities apart from opening tea lounges and cafes across the country.
Parag Desai, executive director, Wagh Bakri Tea Group said that in the current financial year the turnover will be similar to the previous year but with the opening of the markets and our future plans we are looking at a 15 percent growth in the next financial year and they expected to clock a turnover of Rs 1,400 crore in 2020-21.
With an investment of over Rs 50 crore the company will be opening 50 tea lounges and cafes in the north and west of India said Desai, Currently, it has 30 tea lounges and cafes.
Wagh Bakri annually sells over 40 million kilograms of tea, with 90 percent of its sales coming from tier ii and iii towns and cities, said Desai. “Our target is to strengthen our distributorship and increase the presence in outlets by 15%,” he said. Currently, the company has a presence in 2,000 outlets.
The company offers brands like Wagh Bakri Tea, Good Morning, Mili and Navchetan which are also sold in the US, Canada, Middle East, Europe, Australia, New Zealand, Fiji, Malaysia, Singapore, among others.