Buyouts for Wipro Consumer to be product-centric, not region
IT major Wipro's FMCG arm Wipro Consumer Care and Lighting (WCCL) plans to focus on getting into more categories rather than entering new geographies as a part of its growth strategy, a top company official said.mumbai Updated: Sep 12, 2010 14:51 IST
IT major Wipro's FMCG arm Wipro Consumer Care and Lighting (WCCL) plans to focus on getting into more categories rather than entering new geographies as a part of its growth strategy, a top company official said.
The company is open for further acquisitions but only if the product suits and fits into Wipro's portfolio, the official said.
"As an FMCG company, we are open for acquisitions, whether it is a good product or category. Our choice, however, is not market-specific. We would not like to acquire a company just to enter a particular geography. It would be more product -centric," WCCL Business Head (Wipro Yardley) Sriram K Iyer told PTI here.
Wipro has been aggressive on inorganic growth just like its competitors such as Dabur or Godrej. It has so far acquired five international brands such as Glucovita, Chandrika in Sri Lanka, Yardley (UK and Middle East), Unza (Singapore) and Enchanteur (UK).
With these acquisitions, the consumer firm now has its global footprint in regions ranging from the Middle-East to South-East Asia and is now eyeing Africa, the current hot-bed for FMCG players.
It is present in the African market, though in a small way, through exports of Unza products to Nigeria and Egypt.