WayCool Announces New Entity “BrandsNext” to Drive FMCG Business
· WayCool Foods appoints Mr. BP Ravindran as the CEO of BrandsNext
· BrandsNext will become the umbrella company for Madhuram, Kitchenji & Freshey’s
· BrandsNext Aims to double revenue by FY24
Chennai, April 21, 2023: India's leading Food and Agri-Tech platform, WayCool, takes another step in transforming the food economy by carving out its Soil-to-Sale FMCG business as a new entity named BrandsNext. The new corporate entity comes to life with a compelling purpose and objective to put the power of Soil-to-Sale food products into the hands of consumers across South India – every family, every season, every ‘Thali’ (meaning 'meal'). WayCool also announced Mr. BP Ravindran as the CEO of BrandsNext, who will spearhead the company's (BrandsNext) actions and long-term aspirations, from product innovations to category expansions and more.
WayCool began its Soil-to-Sale supply chain business in 2015. It then entered the consumer packaged goods business in 2018 through brands such as Madhuram – a quality rice brand sourced from select farms, Kitchenji – a premium staples brand sourced from the company's vast farmer network & Freshey's – ready to cook products from batter to value-added products. BrandsNext will continue to nurture this journey in making the ‘Thali’ delicious for South Indians.
Commenting on the announcement, Mr. Karthik Jayaraman, MD, WayCool, said, "Soil-to-Sale isn't just a buzzword at WayCool; it is at the heart of what we do. BrandsNext and the portfolio that we have created is to ensure that the value that is created by building a soil-to-sale supply chain is truly captured. BrandsNext is poised to thrive as a standalone entity with a portfolio that caters to the everyday Thali of our consumers."
Adding to this, Mr. BP Ravindran, CEO, BrandsNext, said, "A strong foundation has been laid in the past two years to win in the food business by establishing BrandsNext as an entity which will focus on its core strength of building brands and scaling distribution. We intend to be closer to consumption occasions of our consumers by mapping their need states and addressing their pain points. I am confident that the transformation to be carried out by BrandsNext will help us in the journey of building super brands in the commodity space that benefits every stakeholder in the ecosystem."
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About WayCool: WayCool Foods is India’s leading food and agri-tech enterprise. Focusing on food development and distribution, the company leverages innovative technology to scale and operate a complex supply chain from soil to sale. Through its tech arm CENSA, it offers technology products as customizable SAAS solutions across six verticals namely, Farm Tech, Procurement Tech, Processing and Warehousing Tech, Distribution Tech, Consumer Tech, and Fin Tech with an integrated core leading to transparency and intelligence across the entire food and agri supply chain. Through its farmer engagement program - Outgrow, the company works closely with 2,00,000+ farmers. WayCool operates a full stack, broadline product range across multiple channels and categories such as fresh produce, staples, and dairy, serving over 1,65,000+ clients in the general trade, modern trade, and food services space. WayCool’s consumer brands basket consists of Madhuram, Kitchenji, L’exotique, Dezi Fresh, Freshey’s, AllFresh and Just Potate.
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