Wipro Journey: From ‘FMCG To IT’, Now Launching Fast-Moving Consumer Goods
Wipro is one of the top IT companies in India & World. Its subsidiary – Wipro Consumer Care is coming into the packaged food business industry.
Wipro Initial Business
Wipro used to make products like vegetable oil, washing soap, wax, tin containers. This company was established as selling edible oil, which later started making household products like soap, candles.
Although the business began to grow gradually, Azim Premji was dissatisfied with it and was continuously looking for new chances.
When IBM was sent out of India in 1977, Wipro grabbed that opportunity & became India’s no. 1 computer hardware & a foremost IT company.
What Is Wipro Today?
Wipro is India’s third largest IT company today. Currently it’s the 556th most valued company in the world. It has a market value of $29,85 billion (about Rs 2.35 lakh crore).
The company’s market worth exceeded Rs 4 lakh crore in October 2021, making it the third IT company in the nation to achieve so.
In the stock market, the company owns equity shares worth Rs. 54,000 crore. According to data for 2021, the company employs 2,31,671 people both domestically and overseas.
Thierry Delaporte is the company’s current CEO, and his annual pay is Rs. 79.8 crore.
Fast-Moving Consumer Goods by Wipro
Daily consumption goods (FMCG) manufacturer Wipro Consumer Care and Lighting on Thursday announced its foray into the packaged food business in the Indian market.
The subsidiary of Wipro Enterprises said it wants to penetrate the market of snacks, condiments and ready-to-eat food items.
Vineet Agarwal, CEO, Wipro Consumer Care & Lightning said, “The decision to foray into the canned food business will complete our foray into the FMCG segment in India, complementing our existing categories in personal care.”
The company has appointed Anil Chugh as the head of the food business. Till now he was Head of India and SAARC in Wipro Consumer Care Business.
According to the statement, Chugh will be replaced by Neeraj Khatri, who was the head of Wipro Consumer Care in the Philippines.