IN 2009, WHEN Varun Jaipuria returned to India, fresh from completing his studies in the UK, the idea of diving into his family's business seemed distant. Instead, he longed to savour a year of youthful freedom and exploration. But destiny wanted him to walk a different path.
Hailing from a traditional Marwari family, Jaipuria was tasked with overseeing the family's bottling business in Sri Lanka. Fast forward 15 years, and as the Executive Vice Chairman of Varun Beverages (VBL) now, he has plenty to celebrate. Steering a family business to unparalleled success is no easy feat, yet Jaipuria has achieved what many second-and third-generation businessmen still strive for. At the age of 36, he is one of the youngest recipients of the BT-PwC India's Best CEOs award. He has won in the FMCG category.
Unlike many modern entrepreneurs who flourish in the limelight, Jaipuria prefers to operate away from media attention. However, when it comes to discussing the intricacies of his business in person, he sheds his reserved demeanour.
Consider this: in an age when health-conscious consumers are increasingly eschewing sugary aerated beverages, Jaipuria's VBL, responsible for bottling and distributing nearly the entirety of PepsiCo India's beverage portfolio, has experienced remarkable growth. Between 2021 and 2023, the company's top line surged at a 35% CAGR, soaring from ₹8,958 crore to ₹16,321 crore. Under Jaipuria's direct leadership as CEO of its India and South Asia operations, revenues nearly doubled in two years, from ₹6,596 crore in 2021 to ₹12,633 crore in 2023. Furthermore, despite widespread concerns about inflation, VBL has also managed to improve its margins: from 7.42% in 2019, its standalone net profit margin has jumped to 14.05% in 2023.
This story is from the March 17, 2024 edition of Business Today India.
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This story is from the March 17, 2024 edition of Business Today India.
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