Nagpur Duo Builds ₹250 Cr Brand with Courage & Vision
In the world of business, success stories are often shrouded in glamour and glamourous backdrops. But, the journey of Vivek Deshpande and Kirit Joshi, the founders of Space Wood, is a testament to the power of courage, vision, and relentless effort. Starting from scratch with limited funds and a bold ambition, they turned challenges into a ₹250 crore enterprise. This inspiring tale of risk-taking and innovation is a reminder that even with humble beginnings, dreams can become a reality.
The year was 1994 when Vivek and Kirit, two fearless engineers from Nagpur, decided to take the plunge and start their own business. With a combined experience of just a few years, they had a modest amount of savings and a shared passion for modular furniture. Their vision was to create a brand that would revolutionize the way people lived and worked. The duo’s audacity was met with skepticism by many, but they were undeterred.
Their journey began with a small setup in Nagpur, where they designed and manufactured modular furniture using local materials. The early days were marked by long hours, tireless efforts, and numerous challenges. However, Vivek and Kirit were driven by their unwavering commitment to their vision and an unshakeable belief in their abilities.
The duo’s innovative approach to modular furniture quickly gained attention, and they started receiving orders from across the country. As their business grew, they expanded their operations, investing in modern machinery and trained professionals. They also established a strong network of dealers and distributors, which helped them reach a wider audience.
In the late 1990s, Space Wood made a strategic decision to diversify its product portfolio. They introduced a range of modular furniture solutions, catering to different segments such as residential, commercial, and hospitality. This move not only diversified their revenue streams but also helped them tap into new markets.
The early 2000s saw Space Wood experiencing rapid growth, with turnover crossing ₹10 crores. The brand’s popularity was fueled by its commitment to quality, design, and customer service. Vivek and Kirit’s leadership was instrumental in building a strong team of employees, who shared their vision and were dedicated to delivering exceptional results.
As the years went by, Space Wood continued to innovate and expand its operations. They established a strong presence in the Indian market, with a network of over 500 dealers and distributors. The brand’s product range was regularly updated to meet changing consumer preferences and technological advancements.
Today, Space Wood is a ₹250 crore brand, with a presence in over 20 countries. The company has established itself as a leader in the modular furniture industry, with a reputation for quality, innovation, and customer satisfaction. Vivek and Kirit’s journey is a testament to the power of courage, vision, and relentless effort.
In a conversation with Ascendants, Vivek Deshpande shared, “Fearlessness is the key to better business development. We took calculated risks, and our willingness to experiment and innovate helped us stay ahead of the curve. Our journey has been marked by challenges, but we never let fear hold us back.”
Kirit Joshi added, “Our success is a result of our commitment to our vision and our ability to adapt to changing circumstances. We have always believed in the power of teamwork and have invested heavily in building a strong team of employees who share our values and are dedicated to delivering exceptional results.”
The story of Space Wood is a reminder that with courage, vision, and relentless effort, even the most ambitious dreams can become a reality. As entrepreneurs, Vivek and Kirit have inspired countless individuals with their journey, demonstrating that success is not limited to those with access to resources or traditional routes.
In conclusion, the journey of Space Wood is a shining example of what can be achieved when courage, vision, and innovation come together. As entrepreneurs, we can learn valuable lessons from Vivek and Kirit’s story, and we can draw inspiration from their unwavering commitment to their vision and their unshakeable belief in their abilities.
Source: https://ascendants.in/business-stories/fearlessness-is-the-key-for-better-business-development/
