Meet brothers who started business with just Rs 25000, now own Rs 3000000000 company, they are…, their business is…
In 1992, they borrowed Rs 25,000 from friends and began manufacturing their own coolers, launching the Summercool brand. They launched the first cooler for Rs 1600.
Sanjeev and Rajeev faced many challenges, especially in gaining the trust of customers. Large showroom owners were hesitant to display Summercool products. However, their coolers stood out for their affordability, quality, and word-of-mouth reputation. Gradually, people began to trust the products, and the business grew rapidly. In the first 10 years, their company grew at a rate of 50 times per year showing their product quality and customer service. 'Summercool' Business Model
In 2005, a fire at one of their units caused major losses. But their goodwill in the market proved invaluable. Dealers and suppliers came forward to help. Distributors gave them advance payments, and raw material suppliers extended credit. With this trust and support, they rebuilt the business and now produce over 1 lakh products per month.
Their business model is simple: 80% of products (excluding LED TVs and washing machines) are manufactured in-house and 90% of sales come from offline retail stores.
Over the years, Sanjeev and Rajeev have expanded beyond air coolers. Today, their product line includes ceiling fans, exhaust fans, room heaters, LED TVs, kitchen appliances and other fast-moving consumer electronics.
Their company, based in Ghaziabad, has four modern factories and employs about 200 people. They work with 250 distributors across 17 states, and their products are available in around 4,000 stores nationwide. Online marketplaces like Amazon and Flipkart now contribute 10% to their business.
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