Here is story of an Entrepreneurs who is creating designer products out of waste (kabad) and have turnover of INR 900 Million. He tasted few failures before his success and even sold his wife’s jewellery to seed fund.
Meet Hritesh Lohiya, who is based in Jodhpur, Rajasthan who Run Priti International. handbags from old gunny bags, cast off military tents, denim pants, etc. We are also into producing furniture from waste tins, drums, old military jeeps, tractor parts, waste machine parts and lamps from old scooter- and bike-lights. These products are then exported to various countries like China, USA, European nations, and Australia. We are now India’s biggest exporter of waste handicraft products, and the only one in India to export to China.
Here are few points from Hritesh in interview with Bizztor Team.
How it started:
we have started a textile chemical factory and then a stone cutting factory, manufactured and sold washing powder, began a stock market business, et cetera. we lost huge amounts of money in all these ventures. Venturing into garbage recycling was not a business savvy idea; it was literally the only choice left. “After losing all our money in these bust businesses, we could not afford to invest in anything new.
The only legacy of those failures was the string of garbage strewn around our old factory. There were old gunny bags, drums of chemicals, various bits of plastic and so on. We tried to sell some of these for our bread-and-butter, but no one would buy them. Out of desperation we started thinking about how we could generate any kind of revenue from these waste items. Thus, Priti International was born in 2005.
Current revenue is US$ 15 million, No. of employees are around 450, No. of products are more than 1000.
This is just the beginning. By 2016, our revenue would be US$ 20 million and by the end of 2018, we expect to reach by US$ 50 Million.
What was the most difficult part in your Journey:
We have taken no loans from banks or any other financial institution.” The core team comprises only two people, Hritesh and his wife Priti. “It is a labour of love for us. It’s just the two of us and we are hands-on with every aspect of the firm,
The hardest part about being an entrepreneur was the lack of self-confidence that stemmed from being a serial failure. “After failing in several ventures, it becomes very difficult to start from scratch with yet another new idea.
We pitched our idea to many investors, but no one took us seriously. In serious need of money, we started selling my wife’s jewellery for the seed fund. We would make samples, take photos and upload them online and then market those pictures to prospective customers around the world. It took us around 2 years to get our first order. Those two years were the hardest part.
Also see his story covered by Zee.
What keep you motivated & Advice for Entrepreneurs
I only have faith in ‘Aham Bhramasmi” (Sanskrit term meaning ‘The core of my being is the ultimate reality’). Work hard enough long enough and you will spout your own miracles.
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