Eddy Katuari may only have Wings Group, but this one enterprise reaches many fields of business. He managed to turn a seemingly simple family business that only has limited domestic customers to a giant enterprise that has domestic and foreign customers, with millions of dollars profits every year. Although he started as the second generation, his business instinct and hard work led his family company rose into big enterprise that sends its products to 90 countries.
From Fa Wings to Numerous Products
Wings Group was originally a family business that produced Fa Wings soap, established in 1947 by Freddy Ignatius Katuari, the father of Eddy Katuari. However, after his death and Eddy replaced his position, he managed to expand Wings products into more types of consumer goods. From Fa Wings soap, the products slowly expanded to detergents, bathing soap, dishwashing soap, toothpaste, and instant noodle. In fact, Wings brand of instant noodle, Mie Sedaap, is now being a great contender for Indomie, which is the most famous noodle brand from Indofood.
This rising in product varieties was first shown during the early 90’s; at that time, Wings products were still associated with detergent and soap. Now, there are many brands produced by Wings that become household staples, and each has its own loyal customers. Many of the products such as soap and detergent are even exported to several countries in America, Asia and Europe.
Besides Wings Group, Eddy Katuari is also the person behind Bank Ekonomi, which was big during the 90’s, although he later sold the bank to HSBC. He also partnered with Lautan Luas Group and Salim Group to start PT Ecogreen, an oleo chemical industry. Also, he partnered with the owner of PT Djarum to create a packaging company called PT Unipack.
Success from Cheap Consumer Goods
Eddy Katuari secret in growing his enterprise is focusing on consumer goods that have low price but high quality. This way, he managed to secure his position in the market while using strong marketing concept to slowly compete with consumer good giants like Unilever. He gained customers’ trust in his products, and that is why Wings Group products could stand even the notorious 1998 monetary crisis that made many companies bankrupt (especially since monetary crisis made cheap products coveted by shoppers). To this day, Wings Group continues to manufacture products that many people in Indonesia from all background and economy status use.