Late Parag Desai built Rs 2,000 crore Wagh Bakri empire

The Wagh Bakri group’s executive director, Parag Desai, passed away in Ahmedabad, the company announced on social media. He was 49.

The company said that “With profound grief, we regret to inform the sad demise of our beloved Parag Desai”.

Desai succumbed to brain haemorrhage after he suffered injuries following an attack by stray dogs outside his residence.

The fourth-generation entrepreneur of the tea conglomerate, Desai held an MBA from the Long Island University in New York, USA. One of the two executive directors on the board of Wagh Bakri Tea Group, Desai joined the family business in 1995 when the company’s revenue was less than ₹100 crore.

Desai took the charge of expanding the business outside Ahmedabad and introduced the ecommerce platform He also spearheaded the group’s sales, marketing and exports division.

The Wagh Bakri Group, which was founded in 1892 by Narandas Desai, operates as one of the leading packaged tea companies in India with a turnover of over ₹2,000 crore and over 50 million kg of tea distribution. The company is present across 24 Indian states and exports to some 60 countries.

Parag Desai also transformed the tea group strategically and launched over 70 tea lounges and tea worlds across India. He also strengthened the group’s e-commerce, social and digital media presence. He remained active on several industry platforms including the Confederation of Indian Industry (CII). 

According to Forbes India, Wagh Bakri is the third-largest packaged tea company in India after Tata and Hindustan Unilever (HUL).

Son of Rajesh Desai, Managing Director of the Wagh Bakri Tea Group, Parag is survived by his wife Vidisha and daughter Parisha.

Image courtesy of Twitter

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