Meet two brothers who started business with only Rs 25000, now own Rs 3000000000 company, they are…, their business is…
In 1992, they borrowed Rs 25,000 from friends and started manufacturing their own air coolers. They gave the brand name 'Summercool' which was launched at Rs 1,600.
Sanjeev and Rajeev faced several challenges, like earning customer trust. Many large showroom owners were skeptical about displaying Summercool products. However, the brand gained popularity due to its affordable pricing, quality. After a few months people started trusting their products, and the brand grew rapidly. In the first 10 years, their company grew at a rate of 50 times per year. The 'Summercool' Business Model
In 2005, one unit caught fire and they faced losses. But due to their reputation in the market many Dealers and suppliers came forward for their support. Many distributors gave advance payments and raw material suppliers also gave them credit. Because of this they rebuilt the business.
They now manufacture over 1 lakh products every month. Their business model is simple, wherein 80% of their products (excluding LED TVs and washing machines) are manufactured in-house, and 90% of sales happen through offline retail stores.
Over the years, Sanjeev and Rajeev expanded beyond air coolers and added products like ceiling fans, exhaust fans, room heaters, LED TVs, kitchen appliances, and other fast-moving consumer electronics.
Their company has headquarters in Ghaziabad, operates four modern factories with 200 people. They work with 250 distributors across 17 states, and their products are available in nearly 4,000 retail stores across the country. Online platforms like Amazon and Flipkart now contribute 10% to their sales.
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