Wipro wants to use the momentum derived from acquisition of a Chinese FMCG company to enlarge this footprint and replicate this success in other developing economies in the region.
This strong growth has received a big fillip through the acquisition of Chinese FMCG giant Zhongshan and catapulted Wipro Consumer Care & Lighting into the third-largest player in the prosperous South Chinese personal care market.
Now, Wipro wants to use the momentum derived from this acquisition to enlarge this footprint and replicate this success in other developing economies in the region.
"We would like to grow in all developing markets. Our focus remains on developing countries be it South Asia or other countries in the worlds,” said Vineet Agrawal, CEO of Wipro Consumer Care & Lighting.
And all these purchases have helped Wipro grow its brands 10-fold. Its international business contribute to more than 55 percent of total revenues. This successful track record has the company actively looking for more acquisitions to lift its organic growth trajectory.
The company is betting on the good monsoons and falling inflation to help spur consumption demand. If that happens, it expects the third quarter to be far more fruitful than the last 2 quarters.
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