Interview: Varun Chaudhary, Managing Director, CG Corp Global

‘We want Wai Wai to become a household name in India’

CG Corp Global, the parent company of CG Foods which owns Wai Wai, is aiming for a larger share in India’s instant noodle market by FY22. Varun Chaudhary tells Devika Singh that the company is working on strengthening its production capacity and distribution, and foraying into multiple food categories to make Wai Wai popular beyond the North East region.

Instant noodle brands are among the few that registered growth in sales last year. How did Wai Wai fare in India?

The initial months were tough, but as the economy reopened, our sales rose exponentially — we clocked a 25% growth in CY 2020, as compared to 2019. And we are on track to achieve a turnover of Rs 1,000 crore in FY21. However, we had halted our new launches last year due to the pandemic. This year, we will launch a new product in the convenience food category every quarter. The plan is to increase our market share in North East India, where we command 60% of the market, and at the same time, better our reach in the rest of India. Overall, we aim to capture 30% of the market by the end of FY22. We want Wai Wai to become a household name in India.

Read more: https://www.financialexpress.com/brandwagon/interview-varun-chaudhary-executive-director-cg-corp-global/2210954/lite/

March 22, 2021