Wipro takes over Yardley in UK, several EU markets

MUMBAI: Wipro Consumer Care & Lighting (WCCGL), the maker of Santoor, has bought Yardley in the UK and several other European countries, excluding Germany and Austria, making it the company's first acquisition in a developed market.

Wipro feel that Yardley's success in India can now be replicated in more markets. "We will be able to leverage the brand's core values and offer new products to consumers across our markets and are confident that we will be able to develop the Yardley brand further, especially by using our strong R&D and international footprint. Yardley UK will see sustained brand building initiatives," said Nagender Arya, Regional Director (E Asia, Middle East and Africa), WCCGL.

In 2009, Wipro had acquired Yardley in Asia, Middle East and certain African markets for $45.5 million from UK-based Lornamead group. Since then, Wipro has been able to more than double Yardley's sales at Rs 185 crore last fiscal as against Rs 84 crore in 2009.

WCCGL also posted a net revenue of Rs 979 crore for the quarter ended June, up 30% compared to the corresponding period of the previous fiscal. Its PBITduring the period stood at Rs 114 crore, up 27% vis-a-vis the year-ago period.

Wipro also plans to push Yardley agressively in India, primarily in the deodorant space where it competes with its own brand Enchanteur from another acquired company Unza. "While Enchanteur is a $100 million brand globally, our main focus in India will be Yardley as it enjoys a strong brand equity," said Vineet Agrawal, president, WCCGL.