Nagpur Duo Builds ₹250 Cr Brand with Courage & Vision
In a world where entrepreneurship is often associated with high-stakes risks and uncertain outcomes, Vivek Deshpande and Kirit Joshi, two fearless engineers from Nagpur, have defied the odds to build a ₹250 crore brand with their innovative approach to modular furniture. Space Wood, the company they founded in 1994, has become a household name in India, synonymous with quality and style. Their remarkable journey is a testament to the power of courage, vision, and relentless effort in turning dreams into reality.
Growing up in Nagpur, Deshpande and Joshi shared a passion for engineering and a desire to make a mark in the business world. With limited funds and big ambitions, they took the bold step of quitting their jobs to start Space Wood from scratch. The year was 1994, and the Indian furniture industry was still in its nascent stages. The duo knew that they had to innovate and differentiate themselves to succeed.
“We were driven by a vision to create furniture that was not only aesthetically pleasing but also functional and affordable,” recalls Deshpande, co-founder and MD of Space Wood. “We saw an opportunity to disrupt the traditional furniture market, which was dominated by imported designs and expensive prices.”
The early days of Space Wood were marked by immense challenges. The duo had to navigate the complexities of manufacturing, marketing, and sales, all while facing stiff competition from established players. However, they remained undeterred, fueled by their conviction that their modular furniture concept would revolutionize the industry.
“We took calculated risks and invested heavily in research and development,” says Joshi, co-founder and Director of Space Wood. “We worked tirelessly to perfect our designs, materials, and manufacturing processes, ensuring that our products were not only stylish but also durable and sustainable.”
The gamble paid off. Space Wood’s innovative modular furniture designs resonated with the Indian consumer, who was increasingly looking for affordable and space-efficient solutions for their homes and offices. The company’s early success was built on a strong foundation of quality, customer service, and word-of-mouth referrals.
As Space Wood grew, so did its reputation. The company expanded its operations to new cities, established a strong distribution network, and introduced new products and designs to cater to changing consumer preferences. Today, Space Wood is a ₹250 crore brand, with a presence in over 50 cities across India.
So, what’s the secret to Space Wood’s success? According to Deshpande and Joshi, it’s a combination of courage, vision, and relentless effort. “Fearlessness is the key to better business development,” says Deshpande. “We took bold decisions, faced challenges head-on, and never compromised on our values and vision.”
Their journey is a testament to the power of entrepreneurship and the importance of staying true to one’s vision. Despite the many obstacles they faced, Deshpande and Joshi remained committed to their mission of creating high-quality, affordable furniture that would make a difference in people’s lives.
“Building a successful business is not just about making money; it’s about creating value and making a positive impact on society,” says Joshi. “We’re proud of what we’ve achieved, but we know that our journey is far from over. We’ll continue to innovate, take risks, and strive for excellence, always keeping our customers and our values at the forefront of our minds.”
The story of Space Wood is an inspiration to entrepreneurs and business leaders around the world. It shows that with courage, vision, and determination, even the humblest of beginnings can be turned into a successful and sustainable business. As Deshpande and Joshi’s journey proves, fearlessness is indeed the key to better business development, and their legacy will continue to inspire generations of entrepreneurs to come.
Source:
https://ascendants.in/business-stories/fearlessness-is-the-key-for-better-business-development/
