Nagpur Duo Builds ₹250 Cr Brand with Courage & Vision
In the heart of India, in the city of Nagpur, a fearless duo of engineers, Vivek Deshpande and Kirit Joshi, dared to dream big. With limited funds and a bold ambition, they founded Space Wood in 1994, a modular furniture brand that would eventually become a ₹250 crore enterprise. Their journey is a testament to the power of courage, vision, and relentless effort in turning dreams into reality.
Growing up in Nagpur, Vivek and Kirit were always fascinated by the world of engineering. They pursued their passion, completing their education in mechanical engineering from Nagpur’s prestigious Institute of Technology. Post-graduation, they worked for a few years before deciding to take the plunge and start their own venture. With a modest beginning, they scraped together a sum of ₹50 lakh to start Space Wood.
The early years were challenging, to say the least. The duo faced stiff competition from established players in the market, with limited resources and manpower. However, they refused to be deterred by the obstacles. Instead, they chose to focus on innovation, leveraging their technical expertise to create unique, modular furniture designs that catered to the changing needs of the Indian market.
Their boldness and willingness to take calculated risks paid off. Space Wood’s innovative products quickly gained popularity, and the company began to grow at a rapid pace. Vivek and Kirit’s courage to experiment with new designs, materials, and manufacturing processes enabled them to stay ahead of the competition. They invested heavily in Research and Development, constantly gathering feedback from customers and incorporating it into their product lines.
Another crucial factor in Space Wood’s success was the duo’s ability to adapt to changing market trends. They recognized the growing demand for modular furniture, particularly in India’s burgeoning corporate and residential sectors. In response, they expanded their product portfolio to include a range of modular solutions, from office chairs to entire office spaces.
Their innovative approach and willingness to adapt to market demands earned Space Wood several prestigious awards, including the “Best Modular Furniture Brand” at the 2015 India Design Mark Awards. The recognition not only boosted the company’s credibility but also attracted new customers and investors.
Today, Space Wood is a household name in India, with a brand value of ₹250 crore. The company has expanded its operations to over 100 cities, with a presence in over 20 countries globally. Their modular furniture solutions are used in offices, homes, and educational institutions, with a focus on sustainability, durability, and style.
So, what drove Vivek and Kirit to achieve such remarkable success? The answer lies in their unwavering courage, vision, and relentless effort. They never compromised on their values or the quality of their products, even when faced with daunting challenges. Instead, they chose to view every obstacle as an opportunity to innovate and grow.
Their journey serves as a testament to the power of fearlessness in business development. Fearless entrepreneurs like Vivek and Kirit are willing to take bold risks, experiment with new ideas, and adapt to changing market conditions. They are not deterred by failure, but instead, use it as a learning experience to refine their approach.
As entrepreneurs, it is essential to cultivate a fearless mindset. It is the key to driving innovation, staying ahead of the competition, and building a successful brand. By embracing uncertainty, taking calculated risks, and remaining committed to their vision, Vivek and Kirit have built a ₹250 crore brand that will continue to inspire and empower future generations of entrepreneurs.
Source: https://ascendants.in/business-stories/fearlessness-is-the-key-for-better-business-development/
