WiZ gears up to end 2021 on a high note, surpasses estimates with twice the growth percentage in the COVID-impacted market - mtinews - by MTI News
The brand plans to establish a new fulfillment center and a manufacturing factory by next year, post which it will start recruiting process through both offline and online mediums
Mumbai, October 20th 2021: Proving indispensable in the expeditiously evolving Indian Fast Moving Consumer Goods (FMCG) market, WiZ, the leading personal care and hygiene brand, is all set to end the year 2021 on an all-time high. The brand had registered 50% growth revenue during the pandemic and is still going strong in the post-COVID market scenario. This number is especially remarkable since WiZ registered a 25% revenue growth in the pre-pandemic world. Continuing its ambitious development and vision, the brand aspires to reach up to INR 45 crore growth revenue by 2023-24 rising significantly above its current INR 15 crore revenue.
Already catering to the rapidly changing consumer demands within the personal care and hygiene domain, WiZ has recently launched a bonafide set of avant-garde deodorants and added foam handwash to its product portfolio. In fact, keeping the post-pandemic consumer demands in mind, the brand is laying the foundation for introducing a bouquet of color cosmetics and various hygiene products in 2022. In addition, WiZ is also in the process of onboarding automation to elevate customer engagement and satisfaction.
The brand has created a detailed outline for encouraging unique brand-building processes for the next three to five years. This includes establishing a brand-new factory of about 20000 sq feet outlet and one 15000 sq feet fulfillment center. Furthermore, the brand plans to ramp up its hiring process via online and offline channels. At present, WiZ plans to onboard at least 100 women to address the needs of logistics fulfillment, social media presence, online and offline sales, and overall marketing.
Speaking on this occasion, Mr Reetesh Dhingra, Co-Founder, WiZ Care said, “On the back of extremely resilient, strong, and fruitful performance by the entire WiZ family, we were able to emerge like a Phoenix even during the horrendous COVID peak. We continued to evolve as per the changing consumer behavior and market dynamics, which played a pivotal role in our overall success. Needless to say, the post-pandemic world continues to throw challenges on our road to success, but we are ready to fight it back. For the next couple of years, we have set some super ambitious goals, and we hope to achieve them with all our might.”
Apart from the aforementioned incredible growth instances, WiZ already has a significant presence in the online D2C market nationally. It has also created a dent in the tier-I personal care and hygiene market. Now, the brand plans to invest a large chunk of the marketing budget by focusing on tier-II and tier-III cities.