Nagpur Duo Builds ₹250 Cr Brand with Courage & Vision
In a city known for its oranges, Vivek Deshpande and Kirit Joshi, two fearless engineers from Nagpur, have made a name for themselves in the world of business. With a bold ambition and limited funds, they founded Space Wood in 1994, a modular furniture company that has grown into a ₹250 crore enterprise. Their journey is a testament to the power of courage, vision, and relentless effort in turning dreams into reality.
The story of Space Wood began in the early 1990s when Deshpande and Joshi were working as engineers in Nagpur. Despite being successful in their respective careers, they couldn’t shake off the feeling that they were meant for something more. They shared a passion for innovation and a desire to create something that would make a difference in people’s lives. After hours of brainstorming, they decided to take the leap of faith and start their own business.
With a loan of ₹50,000 from a friend, they set up Space Wood in a small rented office in Nagpur. The initial years were tough, with both founders working tirelessly to meet the demands of their clients. They faced numerous challenges, from managing finances to finding reliable suppliers. However, their passion for innovation and dedication to their craft kept them going.
The turning point came when they launched their first modular furniture product, which was an instant hit. The product’s unique design and durability resonated with customers, and soon, Space Wood was receiving orders from all over the country. This was the catalyst that propelled the company forward, and Deshpande and Joshi never looked back.
Over the years, Space Wood has expanded its product range to include a wide variety of modular furniture solutions. From office chairs to sofas, their products are designed to be functional, comfortable, and stylish. The company has also invested heavily in research and development, ensuring that its products are always at the forefront of innovation.
Today, Space Wood is a ₹250 crore brand, with a presence in over 50 cities across India. The company has a strong distribution network, a team of over 500 employees, and a reputation for delivering high-quality products. Despite its success, Deshpande and Joshi remain committed to their core values of innovation, quality, and customer satisfaction.
The secret to their success lies in their ability to take calculated risks and adapt to changing market conditions. They have always been open to new ideas and have never been afraid to challenge the status quo. This fearlessness has allowed them to stay ahead of the competition and continue to innovate and grow.
In an interview with Ascendants, Vivek Deshpande and Kirit Joshi shared their insights on the importance of fearlessness in business development. “Fearlessness is the key to better business development,” said Deshpande. “It allows you to take risks, innovate, and push the boundaries. Without fearlessness, you will never be able to achieve your goals.”
Joshi added, “Fearlessness is not about being reckless or impulsive. It’s about being bold and confident in your decisions. It’s about being willing to take the road less traveled and make the tough choices. When you are fearless, you are able to overcome obstacles and achieve success.”
The story of Space Wood is a testament to the power of fearlessness, vision, and relentless effort. From humble beginnings to a ₹250 crore enterprise, Deshpande and Joshi’s journey is an inspiration to entrepreneurs and business leaders around the world. Their success is a reminder that with courage, determination, and a willingness to take risks, even the most ambitious dreams can become a reality.
Source: https://ascendants.in/business-stories/fearlessness-is-the-key-for-better-business-development/
