Nagpur Duo Builds ₹250 Cr Brand with Courage & Vision
In a city known for its rich cultural heritage and traditional industries, Nagpur’s Vivek Deshpande and Kirit Joshi dared to dream big. With limited funds and bold ambition, they founded Space Wood in 1994, a journey that would eventually turn into a ₹250 crore enterprise. Their story is a testament to the power of fearlessness, resilience, and innovation, proving that even with humble beginnings, courage and vision can turn dreams into reality.
Vivek and Kirit, both engineers by training, had a passion for designing and manufacturing furniture. They saw an opportunity to create modular furniture that was not only stylish but also easy to assemble and disassemble. This innovative approach was unheard of in the Indian market at the time, but the duo was undeterred. With a small loan from friends and family, they set up Space Wood in a small factory in Nagpur.
The early days were challenging, to say the least. The duo faced skepticism from potential customers, who were hesitant to invest in a new concept. They had to work tirelessly to convince clients of the benefits of modular furniture, often facing rejection and disappointment. Despite these setbacks, Vivek and Kirit remained committed to their vision, pouring their hearts and souls into the business.
Their hard work and perseverance paid off when they landed their first major contract with a leading hospitality chain. The success of the project opened doors to new opportunities, and Space Wood began to gain traction in the market. The duo’s innovative approach to furniture design and manufacturing started to attract attention from clients across the country.
As Space Wood grew, Vivek and Kirit expanded their product range to cater to diverse customer needs. They introduced a wide range of modular furniture solutions, from office spaces to residential areas, and even customized designs for hospitality and healthcare sectors. Their focus on quality, durability, and aesthetics helped them build a loyal customer base, which became a crucial factor in the company’s success.
One of the key factors that contributed to Space Wood’s growth was its ability to adapt to changing market trends and customer preferences. Vivek and Kirit remained agile, continuously updating their designs and manufacturing processes to stay ahead of the curve. They invested heavily in research and development, ensuring that their products remained relevant and competitive in the market.
The duo’s fearless approach to business development also played a significant role in their success. They were not afraid to take calculated risks, venture into new markets, and explore new opportunities. Their willingness to experiment and innovate helped them stay ahead of the competition and build a strong reputation in the industry.
Today, Space Wood is a respected name in the Indian furniture industry, with a turnover of ₹250 crore. The company has a strong presence across the country, with a network of dealers and distributors. Vivek and Kirit’s journey is a testament to the power of entrepreneurship, innovation, and perseverance. Their story serves as an inspiration to aspiring entrepreneurs, highlighting the importance of courage, vision, and relentless effort in turning dreams into reality.
In conclusion, the story of Vivek Deshpande and Kirit Joshi is a shining example of what can be achieved with determination, innovation, and a fearless approach to business development. Their journey from humble beginnings to building a ₹250 crore brand is a testament to the power of human spirit and the importance of staying true to one’s vision. As entrepreneurs, we can learn a lot from their story, and it serves as a reminder that even in the face of uncertainty and adversity, courage and vision can turn our dreams into reality.
Source:
https://ascendants.in/business-stories/fearlessness-is-the-key-for-better-business-development/
