Nagpur Duo Builds ₹250 Cr Brand with Courage & Vision
In a city known for its rich cultural heritage and historical landmarks, Nagpur is also home to a trailblazing entrepreneurial spirit. Vivek Deshpande and Kirit Joshi, two fearless engineers from Nagpur, founded Space Wood in 1994 with limited funds and bold ambition. Through risk-taking, resilience, and innovation in modular furniture, they turned challenges into a ₹250 crore enterprise. Their journey proves that courage, vision, and relentless effort can turn dreams into reality – even with humble beginnings.
The story of Space Wood began when Deshpande and Joshi, both mechanical engineers, were working at a local firm in Nagpur. They spotted an opportunity in the furniture industry, which was largely dominated by traditional wooden crafting methods. The duo envisioned a future where furniture could be designed and assembled quickly, efficiently, and sustainably. They quit their jobs, pooled their savings, and founded Space Wood with a modest investment of ₹50,000.
The early days of Space Wood were marked by challenges. The duo faced skepticism from potential clients, struggled to find suitable manufacturing space, and had to navigate the complex web of regulatory requirements. However, they remained undeterred, driven by their shared vision of creating a game-changing modular furniture brand.
“We were not afraid to take risks,” recalls Deshpande. “We knew that our innovative approach would require significant investment, but we were convinced that it would pay off in the long run.”
Their courage and conviction soon paid dividends. Space Wood’s modular furniture designs, which combined functionality with aesthetics, began to gain popularity among customers. The company’s commitment to quality, sustainability, and customer service earned it a loyal client base, and its reputation spread rapidly across the country.
As Space Wood grew, Deshpande and Joshi continued to innovate and expand their product range. They introduced new materials, such as aluminum and steel, to their designs, which enabled them to create more durable and lightweight furniture. They also developed a state-of-the-art manufacturing facility in Nagpur, which enabled them to scale up production and meet the growing demand for their products.
Today, Space Wood is a ₹250 crore brand, with a presence in over 500 cities across India. The company’s modular furniture solutions are used in offices, homes, schools, and hospitals, and its products are exported to countries like the United States, the United Kingdom, and the Middle East.
So, what’s the secret to Space Wood’s success? According to Deshpande, it’s the company’s unwavering commitment to innovation, quality, and customer satisfaction.
“We never compromise on quality, and we’re always looking for ways to improve our products and services,” he says. “Our customers know that they can rely on us to deliver high-quality products that meet their specific needs.”
Joshi adds that the company’s focus on sustainability has also been a key factor in its success. “We’re committed to reducing waste and minimizing our environmental footprint,” he says. “Our modular designs enable customers to assemble and disassemble furniture easily, which reduces waste and extends the life of our products.”
The story of Space Wood is a testament to the power of courage, vision, and relentless effort. From humble beginnings to a ₹250 crore brand, Deshpande and Joshi’s journey is an inspiration to entrepreneurs and business leaders across the country.
As the article concludes on Ascendants, “Fearlessness is the key for better business development. One needs to take calculated risks, innovate, and be resilient to achieve success in today’s competitive business landscape.”
Source: https://ascendants.in/business-stories/fearlessness-is-the-key-for-better-business-development/
