Nagpur Duo Builds ₹250 Cr Brand with Courage & Vision
In a world where entrepreneurship is often synonymous with glamour and instant success, the story of Vivek Deshpande and Kirit Joshi, two fearless engineers from Nagpur, is a beacon of hope and inspiration. With limited funds and a bold ambition, they founded Space Wood in 1994, a modular furniture company that has now grown into a ₹250 crore enterprise. Their incredible journey is a testament to the power of courage, vision, and relentless effort, proving that even with humble beginnings, dreams can become a reality.
Vivek and Kirit, both graduates from the prestigious Visvesvaraya National Institute of Technology (VNIT), Nagpur, had a passion for innovation and a desire to create something of their own. They started Space Wood with a modest investment of ₹50,000, working out of a small garage in Nagpur. The duo’s initial focus was on designing and manufacturing modular furniture, which was a relatively new concept in India at that time.
Their first major breakthrough came when they secured a contract from a leading Indian IT company to supply modular furniture for one of its offices. This was a significant milestone, as it not only provided them with a steady stream of income but also helped them to refine their designs and manufacturing processes.
However, the road to success was not without its challenges. Vivek and Kirit faced numerous obstacles, including stiff competition, limited resources, and the need to constantly innovate and adapt to changing market trends. Despite these hurdles, they remained committed to their vision and continued to work tirelessly to build their brand.
One of the key factors that contributed to Space Wood’s success was its focus on quality and innovation. Vivek and Kirit were determined to create products that were not only aesthetically pleasing but also functional and durable. They invested heavily in research and development, working closely with designers and engineers to create unique and modular furniture solutions that catered to the evolving needs of the Indian and international markets.
Their efforts paid off, as Space Wood began to gain recognition and accolades both nationally and internationally. The company’s products were featured in various design exhibitions and publications, and they started to receive orders from leading companies and institutions across the globe.
Today, Space Wood is a ₹250 crore brand, with a presence in over 20 countries and a global customer base that includes some of the world’s most renowned companies. The company has also expanded its product range to include a wide range of modular furniture solutions, including office furniture, hospital furniture, and educational furniture.
Vivek and Kirit’s success is not just a testament to their entrepreneurial spirit and innovative approach but also their ability to adapt and evolve in response to changing market conditions. They have successfully navigated the challenges of globalization, adopting strategies that have enabled them to maintain their competitive edge while expanding their global footprint.
So, what is the secret to Space Wood’s success? According to Vivek and Kirit, it is a combination of courage, vision, and relentless effort. They believe that fearlessness is the key to better business development, and that taking calculated risks and being open to failure are essential components of the entrepreneurial journey.
Their story is an inspiration to entrepreneurs and small business owners across India, demonstrating that with hard work, determination, and a willingness to innovate, even the most humble beginnings can be transformed into a global brand.
Source:
https://ascendants.in/business-stories/fearlessness-is-the-key-for-better-business-development/
