Nagpur Duo Builds ₹250 Cr Brand with Courage & Vision
In the world of business, it often takes a combination of courage, vision, and relentless effort to turn dreams into reality. For Vivek Deshpande and Kirit Joshi, two fearless engineers from Nagpur, this mantra has been a guiding force in their journey to build a ₹250 crore brand, Space Wood. Founded in 1994 with limited funds and a bold ambition, their story is a testament to the power of innovation, risk-taking, and resilience.
The idea of Space Wood was born out of a simple yet profound challenge. Deshpande and Joshi were struggling to find affordable, high-quality furniture for their homes. They noticed that the market was filled with expensive, low-quality options or cheap, flimsy alternatives. This sparked an idea – to create modular furniture that was both stylish and affordable.
With ₹1 lakh in their pockets, the duo set out to turn their vision into a reality. They began by experimenting with different materials, designs, and manufacturing processes. The early days were marked by countless setbacks, rejections, and failures. However, their unwavering determination and passion for innovation kept them going.
One of the key breakthroughs came when they developed a unique manufacturing process that allowed them to produce high-quality furniture at a fraction of the cost. This innovation enabled them to price their products competitively, making them accessible to a wider audience.
As Space Wood began to gain traction, Deshpande and Joshi faced a new set of challenges. They had to navigate the complexities of scaling up production, managing inventory, and building a team. However, they remained committed to their core values of quality, innovation, and customer satisfaction.
The turning point came when they received an order from a large retail chain, which helped them gain exposure and credibility in the market. This success was followed by a series of awards and recognitions, including the prestigious “Best Furniture Brand” award at the 2015 Indian Furniture Awards.
Today, Space Wood is one of the leading modular furniture brands in India, with a turnover of ₹250 crore and a presence in over 200 cities. The company has expanded its product portfolio to include a wide range of furniture solutions, from living rooms to bedrooms, and even outdoor spaces.
So, what sets Space Wood apart from other furniture brands? According to Deshpande, it is their relentless focus on innovation and customer satisfaction. “We have never compromised on quality, and we are always looking for ways to improve our products and services,” he says.
Joshi adds, “Our ability to adapt to changing market trends and customer preferences has also been a key factor in our success. We are always open to feedback and willing to take calculated risks to stay ahead of the curve.”
The journey of Space Wood is a testament to the power of entrepreneurship and the importance of staying true to one’s vision. For Deshpande and Joshi, the journey has been marked by countless challenges, but also by moments of triumph and fulfillment.
As they look back on their journey, they are quick to acknowledge the role of courage and fearlessness in their success. “We took many risks along the way, and we were willing to challenge conventional wisdom and push the boundaries of what was possible,” says Deshpande.
Joshi adds, “We never let fear hold us back. We believed in our vision, and we were willing to put in the hard work and dedication required to turn it into a reality.”
In conclusion, the story of Space Wood is a powerful reminder that courage, vision, and relentless effort can turn dreams into reality, even with humble beginnings. For Vivek Deshpande and Kirit Joshi, their journey is a testament to the power of innovation, risk-taking, and resilience. As entrepreneurs, they inspire us to stay true to our vision, take bold risks, and never give up on our dreams.
Source: https://ascendants.in/business-stories/fearlessness-is-the-key-for-better-business-development/
