No one gets success easily. It takes a lot of hard work and following the right strategy gives us the fruits of success. Most of us do not understand that there is no definition of success and it cannot be measured on social norms. If we try to measure the factors of success, it is 10 percent luck and 90 percent hard work.
Of mumbai Ushik Mahesh Gala Has a similar story. Who dealt with the struggles of his life and managed to make the family’s ailing business soar like a rocket. A businessman with a family background, Ushik had seen how the business industry worked; However, he got a chance to try his hand at its strategy model when his father found him suitable for it.
Ushik, while still in college, understood the nuances of his father’s textile small business. But it was the early times of the recession from 2006 to 2008, which proved to be a real phase for his family. The shock of this period was so intense that it pulled the business down to zero, after which it had to close. No one in the family was ready to try that business model anymore.
When Ushik entered the business in 2010, he had only 311 rupees in his pocket, still meeting his financial need. In such a situation, he decided that whatever could happen, he could not let the business sink. But it was one thing to make a plan, and to implement the plans was another. The capital was limited and the market was going through rotating phases where any kind of investment could be like risking its livelihood.
Despite unfavorable conditions, Ushik had a foresight that he wanted to expand the business to new heights, thereby changing the way business was conducted. So in 2012, after the recession was over, they decided to re-enter the market with bridal costumes.
“It turned out to be a ruthless competition filled business as there were many tough players in the market. Everyone was trying this model, thus it became a fierce struggle. To change the entire business model, I had to take this risk because if I failed, I would have nothing to give to my family. I closed my eyes and decided.
At first we were only in retailing, so I designed a blueprint that expanded the business to business as well as manufacturing, “he said. Kenfolioz Said this in special talks with
He felt a grip on the market. In 2014 he decided to start a new venture under the name ‘Sumaya Lifestyle’. She analyzed the market that earlier women’s cultural apparel and business were not good for women as the market was emerging towards new horizons.
In fact, the pace of the changing market was so fast that it was barely able to keep pace with it. One thing he learned in this trip was that there was no place to complain. In this he can either be made or be shattered, so he chose the first option and put a strong emphasis on business towards success.
The foundation stone of Sumaya Lifestyle came into existence on 11 August 2011 but in 2014 the official introduction with a private capital investment of Rs 2 lakh was accepted. In the period from 2012 to 2014, Ushik sold bridal apparel. This changed in 2014 when they moved on to dress women informally as per the influx of new demand. This business proved lucky for him and he earned huge crores in just three to four years of implementation.
With a manufacturing unit in Mumbai, he worked on affordable and quality garments and marketed them in India and abroad. ‘Sumumaya Lifestyle’ gained momentum and today it is the largest apparel manufacturer in India. Its balance sheet closed at Rs 214 crore in 2017. In this short period of time, the number of employees in the manufacturing unit increased to 3,000 and the corporate employee size increased to 150.
After the success of Sumaya Lifestyle, he started with textile manufacturing company Sumaya Fabric which is a group company of ‘Sumaya Lifestyle’ and has a turnover of Rs 50-60 crores. In March 2018, the estimated turnover of both companies is around Rs 614 crore.
After being successful in his entrepreneurial journey, he has also invested in a travel app ‘Guidedo Technology Private Limited’ as an angel investor in the year 2014-2015. Apart from this, he has also invested in a closed group chat app, The Houses. He has also given about 250 crores to the market in the form of financial services loans.
The self-financed company Sumumaya Group has invested Rs 110 crore in the business and continues to do so. Sumaya’s net assets in the form of entire group clothing, financing and other businesses are around Rs 650 crore.
Talking about the customer base, he says, “We supply all over India. We have a share of about 65 percent in the market segment of cultural textiles. Sumaya Lifestyle’s market base has now grown considerably and has expanded to Dubai, Oman and the US. The business has offices in Dubai, USA, UK and Australia, besides expanding across India. This is the first example of a fashion-based Indian company with branches abroad and fully functional offices in other countries.
Built on 3,50,000 square feet of land in Mumbai, Sumaya Lifestyle’s only manufacturing unit is the highest modern technological unit. It is 85 percent automated and from there its garments are exported to its offices abroad.
In Paris for significant success in the apparel business, Ushik has been nominated as the youngest CEO in the garment industry as the Award of Excellence and the youngest billionaire in the Jain community. He is also the Global Director of Jain International Organization (JIO). Humble Ushik continues to advance in his own way. At 27 years old are setting a milestone for themselves.
Describing his mantra for success, he said, “Work hard and your actions will give you the right fruit in return.”
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