Parag Desai Turned Wagh Bakri Tea Into A ₹2,000 Cr Empire Before Death

 

It’s a somber day for the tea industry as Parag Desai, the former top executive of Wagh Bakri Tea Group, has tragically passed away at the age of 49. The untimely demise occurred due to a distressing incident involving street dogs near his residence, leading to a severe brain injury when he attempted to escape. Despite swift medical attention and surgery at Zydus Hospital, Parag Desai succumbed to his injuries after seven days on a breathing machine. His last rites were performed at Thaltej crematorium in Ahmedabad.

Parag Desai played a pivotal role in propelling Wagh Bakri Tea Group to new heights during his tenure, significantly increasing its revenue from less than Rs 100 crore to over Rs 2,000 crore. His leadership extended the company’s reach across India and beyond, marking its presence in the global tea market. Desai’s forward-thinking approach was evident in the establishment of the eCommerce platform buytea.com two decades ago, showcasing his visionary mindset.

Founded in 1892 by Narandas Desai in South Africa, Wagh Bakri Tea Group faced challenges due to racial issues, prompting its relocation to India in 1915. Today, it stands as a multi-generational family business, with Parag Desai’s contributions being instrumental in its success. Wagh Bakri is a prominent name in the tea industry, boasting revenues of over Rs 2,000 crore, selling its products across 24 Indian states, and exporting to more than 60 countries. The company’s strategic growth plan, focusing on regions like Rajasthan, Madhya Pradesh, Maharashtra, and Delhi, has solidified its position as the third-largest player in India’s packaged tea market, following Tata and Hindustan Unilever. Parag Desai’s legacy is indelibly woven into the remarkable journey of Wagh Bakri, making his loss deeply felt in the industry.