No Indonesian that does not know products by Wings Group, since many of them such as Nuvo, So Klin detergent and Giv beauty soap have become household staples. Eddy Katuari is the man behind the massive success of Wings Group, and he has earned $1.4 billion of wealth. He is famous not only because his company rose from small family business, but also was able to withstand the hit of Indonesia’s monetary crisis in 1997 and 1998 with just very little shake.
Eddy Katuari’s Business History
Eddy Katuari’s family started Wings as a family company in 1947, making and selling soap bar. However, when the production ran fast and profits became bigger, the family company started to add product lines. Now, Wings Group produces not only one but several brands of soap bars, as well as shower gels, detergent, dishwashing soap, food and beverages, household products, and now even real estate and bank. Almost all the products made by Wings Group become household names, competing head to head with other consumer good giants such as Indofood and Unilever Indonesia.
The success of Eddy Katurai’s business lies not only on the entrepreneurship spirit and ability to read trend, but also through family relation. His daughter, Grace Katuari, married Martin Hartono, which is the third generation owner of Djarum, a famous cigarette company in Indonesia. This has helped Wings Group to establish firmer ground in business world in Indonesia. Even during devastating monetary crisis in Indonesia, which hit a lot of businesses, Wings Group stayed firm and seemingly unshaken by the crisis effect. If possible, it became stronger, since many people started buying Wings products more, which have reputation as cheap yet high quality products of consumer goods.
Currently, Eddy is in the higher position at the company, together with his brothers Freddy Ignatius and Teddy Katuari.