Nagpur Duo Builds ₹250 Cr Brand with Courage & Vision
In an era where entrepreneurship is often touted as the key to success, it takes a special kind of individual to turn their dreams into a reality. Vivek Deshpande and Kirit Joshi, two fearless engineers from Nagpur, are a testament to the power of courage, vision, and relentless effort. Their journey, which began with limited funds and a bold ambition, has culminated in the creation of Space Wood, a ₹250 crore modular furniture brand that has disrupted the industry.
The story of Space Wood begins in 1994, when Deshpande and Joshi, both in their early twenties, had just completed their engineering degrees from Nagpur University. With a shared passion for design and innovation, they decided to take the plunge and start their own venture. The duo began by working out of a small, rented office in Nagpur, with a modest budget of just ₹50,000.
The early days were marked by countless sleepless nights, as Deshpande and Joshi poured their hearts and souls into building their brand. They spent long hours brainstorming, designing, and experimenting with various ideas, all while juggling multiple responsibilities, including managing finances and marketing.
The turning point came when the duo stumbled upon the concept of modular furniture. This innovative approach to designing and building furniture allowed them to create products that were not only stylish but also functional, durable, and easily assembled. The idea resonated with the market, and Space Wood’s first product, a modular chair, quickly gained popularity.
As the brand grew, so did the challenges. Deshpande and Joshi faced stiff competition from established players in the industry, who were skeptical of their innovative approach. They also had to contend with logistical issues, including sourcing raw materials and setting up a manufacturing facility.
Despite these obstacles, the duo remained undeterred. They continued to push the boundaries of innovation, investing in cutting-edge technology and partnering with top designers and architects to create products that were truly revolutionary.
Their efforts paid off, as Space Wood began to attract attention from major corporations and institutions. The brand’s modular furniture was soon being used in some of the most prestigious buildings in India, including the Indian Parliament and the Reserve Bank of India.
Today, Space Wood is a ₹250 crore enterprise, with a presence in over 20 countries worldwide. The brand has expanded its product range to include a wide range of modular furniture solutions, from office chairs to hospital beds. Deshpande and Joshi’s vision has not only disrupted the furniture industry but has also created a global presence for Indian entrepreneurship.
So, what is the secret to Space Wood’s success? According to Deshpande and Joshi, it is a combination of courage, vision, and relentless effort. “We never gave up, even when things seemed impossible,” says Deshpande. “We took calculated risks, innovated constantly, and pushed ourselves to be better every day.”
Their journey is a testament to the power of fearlessness in business. By embracing uncertainty and taking bold steps, Deshpande and Joshi have created a brand that is not only a household name in India but also a symbol of Indian entrepreneurship on the global stage.
As the duo looks to the future, they are committed to continuing their legacy of innovation and excellence. They are investing in research and development, exploring new technologies, and expanding their product range to meet the evolving needs of their customers.
Space Wood’s story is an inspiration to entrepreneurs and innovators across the globe. It shows that with courage, vision, and relentless effort, even the humblest of beginnings can be turned into a global success story. As Deshpande and Joshi’s journey proves, fearlessness is indeed the key to better business development.
Source: https://ascendants.in/business-stories/fearlessness-is-the-key-for-better-business-development/
