Ajay Gupta, a well-known entrepreneur, founded Ching’s Secret in 1996, and it was purchased by Tata for Rs. 5,500 crores. Here’s how it all went down!
Ching’s Secret is one of the largest FMCG companies, and it has also become one of the most profitable brands in the industry over the last 27 years. Ajay Gupta, the company’s founder, is the man behind the ‘Desi Chinese’ concept, which is the heart of Ching’s Secret.
He is currently the company’s Managing Director and has made a name for himself in the industry through his vision and belief in his ideas. Despite Ching’s Secret’s inspirational success as an FMCG brand, its story remains unknown to many young entrepreneurs across the country.
As a result, we will bring Ajay Gupta’s entrepreneurial journey to everyone’s attention because it is highly inspirational and sends out the message of ‘believing in your product’ loud and clear. Here’s everything you need to know about Ajay’s entrepreneurial journey, from his educational background to how he cracked Rs. 5500 crores with Tata!
Ajay Gupta, the founder of Ching’s Secret, has an educational background
Ajay Gupta, a well-known entrepreneur, founded Ching’s Secret in 1995. In the same year, the entrepreneur established Capital Foods Private Limited. Capital Foods Private Limited, the parent company, has become a significant name in the FMCG sector as a result of the brand’s exponential success. At a time when Ajay’s entrepreneur colleagues or friends were making money in well-known industries, the former decided to venture into the more difficult FMCG sector. According to reports, Ajay earned a Bachelor of Arts degree from CCS University in Meerut. Ajay founded Capital Foods Private Limited with the idea of ‘Desi Chinese’ 27 years ago, with all of his knowledge and faith in his vision.
Ching’s Secret was founded by Ajay Gupta
In numerous interviews, Ajay Gupta admitted that only a few people shared his vision. Ajay sent a team of food tasters across the country to identify the ingredients used in Chinese cuisine for the uninitiated. Despite tasting Chinese food from various stalls, they were unable to identify a single ingredient. The young entrepreneur recognized an opportunity to place a brand in local food so that people could see it and take it home to replicate the taste in their home-cooked meals. As a result, Ajay Gupta introduced the concept of ‘Desi Chinese’ in the Indian food market as a fusion of Indian desiness and authentic Chinese food from China. From soy sauce, Chilli vinegar, red chili sauce, and many more.
However, when Ajay Gupta went to the distributors, most of them said ‘no’, as no one believed in his idea of ‘Desi Chinese’. When no investor accepted his proposal, Ajay began giving his products away for free to street food vendors in order to get people’s attention. The trick worked, and soon after, people demanded the same products in stores, and Ching’s Secret became a household name across India in a short period of time.
Ajay Gupta’s genius in introducing Ranveer Singh as Ching’s Secret’s brand ambassador
Ajay Gupta decided to make Bollywood actor Ranveer Singh his company’s brand ambassador around 2010. The Ching’s Secret marketing team did an excellent job in presenting the actor as ‘Chef Ranveer,’ and it quickly became a hit. The catchy slogan “Ching Khao Baaki Bhul Jao” also worked brilliantly on social media, garnering 100K followers and 70+ million page views on Ching’s Secret’s social media handle.
The journey of Ajay Gupta’s Ching’s Secret to Rs. 110 crores
The decision to make Ranveer Singh the brand ambassador for Ching’s Secret proved to be the final missing piece in the product’s inspirational success. The product experienced impressive growth, similar to how Ajay Gupta’s company grew from Rs. 110 crore to Rs. 350 crore around 2015. With a strong presence in 150,000 stores across 11 Indian states, the company’s fortunes skyrocketed when it received a 27% investment from General Atlantic, bringing the company’s value to over Rs. 1500 crores.
When Tata purchased Ajay Gupta’s Ching’s Secret for a whopping Rs. 5500 crores
Ajay Gupta finally caught the attention of big sharks in the FMCG industry in 2023, after acquiring a valuation of Rs. 1500 crores. As expected, several large corporations approached Ajay Gupta about acquiring Ching’s Secret. However, it was Tata Consumer Products that struck a massive deal with Ajay, leaving major corporations such as Nestle and others in the dust.
Tata Consumer Product sealed the deal with Ajay by paying a hefty sum of Rs. 5500 crores. It’s amazing how far Ajay Gupta’s entrepreneurial journey has progressed, as he used to sell his products to street vendors before Tata paid Rs. 5500 crores to acquire the same products. It’s strange how Ajay Gupta’s journey with Ching’s Secret remains one of India’s most underappreciated entrepreneurial success stories.
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