Successful Entrepreneurs Stories Will Make You Tons Of Cash. Here’s How!

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Successful entrepreneurs:  Success Stories

Successful entrepreneurs mean more than starting new ventures every other day.

It means the right attitude towards a business and the determination and grit to achieve success.

Most Successful entrepreneurs have a strong inner drive that helps him or her to succeed.

Let us take a look at the qualities that go into making successful entrepreneurs.

An entrepreneur should be excited by the prospect of work. They should always have a strong drive to succeed and overcome obstacles.

Entrepreneurs should not only set big goals for themselves but also see that they are actually committed to achieving them regardless of the countless setbacks that occur.

Successful entrepreneurs always have a strong sense of self-confidence and a healthy opinion of their skills and abilities.

Their personality is assertive and strong. They are always focused and do not really dilly dally with the issues at hand. This is what makes them different from the rest.

Angry Birds

Successful Entrepreneurs- Rovio startup success story

Rovio Entertainment was on the verge of closure in 2009.  The company had reduced the staff from 50 to 12.

Many gaming apps created by the company had flopped.  Then one last effort made the company famous overnight.

This was Angry Birds!!!

The game was downloaded so much in just three days that it became the number one downloaded game. 

It was previously ranked number 600 on the list of Most downloaded.

In 2003, Nicholas Head won a competition to create a multiplayer mobile game at the University of Helsinki with his friends. 

At the time he was 29 years old. 

From then onwards he was planning to set up a gaming company

Shared this idea with his cousin Michael Head. Nicholas did not wait until 2004 to form the company. 

The same company became Rovio in 2005 and his brother Michael joined the company as chief executive.

Work began, but there was a shortage of funds. 

Then Michael’s father got help. He was a successful entrepreneur.

Nicholas and Michael convinced him to invest 1 million euros in his startup.

Work began, but Michael and his father did not agree with the company’s direction.

There was some upheaval in Michael’s personal life.  So Michael left the company after a year.

The company continued to weaken after that, but Nicholas continued.

The company was developing games for companies such as EA, Namco, and Real Networks. No major success was felt.

Nicholas did not have a marketing policy for his products. 

Distribution was weak. In 2006, the company was on the verge of bankruptcy. 

Nicholas had reduced the number of staff to 12 for reducing expenses. Physical gaming was then underway in Finland, with real-world strength.  

Cartoons such as bang and speed were not liked.  Online games were popular, but no one was making games that ran in simple and mobile phones. 

Meanwhile, Steve Jobs launched the iPhone. Here Nicholas brought Michael back into the company.

 Together, they both made a plan to save the company.  They were constantly tracking big developers.

They don’t want to take the risk by leaving all the works.

Hence, the company continued to do its regular work.  Both were given full time to develop mobile games for the iPhone. Michael had a budget of 25000 euros for this project.

And finally, when the project was completed, Angry Birds cost four times more.

Rovio’s chief designer Jaco Lissalo had sketched hundreds of characters for the new project. 

Finally, in March 2009, he made a bird that had an angry nose. There was something special in this bird which was surprising everyone.  

The first time Nicholas saw Angry Birds, he wished to play this game. 

The game was released during the December 2009 holidays. Nothing was seen in the first three months.  It seemed that this company was another flop product.  

Then in February 2010, Apple agreed to bring the game to the front page of its app store and Angry Birds took over the world on seeing it.

So that it came to be called as popular as the cartoon character Mickey Mouse.

Rovio then received $42 billion in funding. Michael and Nicholas used it to explore new markets and establish Angry Birds as a brand.

Today, Angry Birds is a multi-dimensional entertainment house. The company also sells several products under the name Angry Birds.

The company also publishes Story, Comic, Activity and Learning Books.  Apart from Finland, it has offices in China, Sweden, the USA, the UK, and Japan.

Even Angry Birds movie also released on 11 May 2016. It is a computer-animated comedy film relay based on Rovio Entertainment’s video game series. On 2 August 2019 Angry Birds 2 also released.

 

 

  FusionCharts

Successful Entrepreneurs -Pallav Nadhani Success Story

source: www.recruiterflow.com
Source: www.youtube.com

 

  • Company     : FusionCharts
  • Founder: PallavNadhani
  • Industry: Data Visualization
  • Founded: 2003
  • Headquarter: Kolkata
  • Presence: Worldwide
  • What’s special: Made an interactive charting tool that Linked In, Google, Facebook, Ford are using.  
  • Clients : 25,000+
  •  Investment – a company of crores made from modest pocket money

 

  • Family Background:

 Born in the Marwadi family of Bhagalpur, Pallav Nadhani did not like to make chats in Excels for school assignments during high school. 

This dislike gave rise to the idea of ​​creating an interactive charting solution in his mind.

  •  Purpose of pocketing money:

Pallav wrote some articles on a website about his idea.  Writing at that time began with the aim of securing pocket money. 

He was well appreciated for these articles and also paid $ 2000.

The $ 2000 salary for an eleventh-grade student was nothing less. 

This encouraged him and decided to make his idea a business venture.

In 2001, Pallav laid the foundation for his company Fusion Charts Technologies.

For the first three years, Pallav single-handedly handled product development, website creation, documentation, sales and marketing, and customer support.

When orders began to be received, Pallav opened his first office in 2005 and set up a team of 20 people in a gap of about two years.

Now the Pallav also felt the need for experienced advice because they did not have much knowledge of government regulations and banking and finance.

whereas they also had to deal with foreign clients.  To solve this problem, he enlisted the help of his father.

  •  Business Expansion:

In 2009, Pallav shifted his office to Salt Lake, Kolkata’s IT hub, to expand the business and increased the team’s strength from 20 to 50. 

In 2010 FusionCharts opened its office in Bangalore.

This company currently has 80 employees and over 25,000 clients, including companies such as LinkedIn, Google, Facebook, Ford. 

 The company gradually spread its footprint and has its presence in nearly 120 countries from pharmaceuticals to FMCG and educational institutions to NASA.

Not only this, but the product was also chosen in 2010 by US President Barack Obama. 

 

OYO

 

      Successful Entrepreneurs  -Ritesh Agarwal’s success story

Source: www.yosucess.com
  •  India’s largest hospitality company:

OYO started in 2013 by college dropout Ritesh Agarwal has become one of the most famous startups in India. 

Mr. Agarwal having dropped out of college at 18 and winning the Thiel fellowship at 19, became a poster boy of the rags to riches Indian success story.

From a small town in Odisha to being the 25-year-old CEO of one of the most well-funded startups in the world is a great story for the Indian media.

Along the way, such as “Quick and Early Success” also had a lot of legitimate doubters.

In 2015, Mint published a detailed account of the dark underbelly of the company’s history.in 2016.

An entrepreneur wrote a viral post on how OYO is the equivalent of a Ponzi scheme.

Mr. Agarwal responded in earnest, but the bad press didn’t stop. From mismanagement of room to criminal activity- OYO has had to battle doubters, perpetually like a house of cards.

Investors in the company, though, have never doubted the potential of the company and have put in $1.5Bn for the company to scale rapidly over 5 years.

Softbank’s son had a strong liking for the company, and funded it despite multiple pivots, and continued losses. So what are OYO rooms really?

The Company started off as Oravel stays, an AirBnB me-too.

It quickly pivoted to a  marketplace of budget hotels, then a managed marketplace of budget hotels and now even has premium hotels and co-working spaces.

CB Insight’s Anand Sanwal called this the Ponzi Scheme of ambition for Uber, but OYO isn’t stopping.

The company set its sights on the Indian budget market first, valued at $7Bn, then the Chinese market ($35 Bn) and then the SEA market ($15 Bn).

It is, therefore, a $62Bn overall market, of which OYO’s addressable market is 25%(its take rate) or $12Bn. 

OYO though could very well gun for the entire $200Bn budget hotel market in the world, a tall ambition.

Let’s work with the $12Bn number, and focus on the Asian market for now.

Premium travelers are already catered to, with budget travelers ($25-$80/night) not really well served.

The pain point that the company is solving for is the fact that budget hotels are “mom and pop” establishments, with little standardization and predictability.

Travelers don’t know what they are getting to (quite literally), and this was inspired by Mr. Agarwal’s difficulty in traveling.

The fragmented, disorganized, and opaque-the industry is the recipe for “disruption”.

Uber did it for transport, AirBnB did it for travel, Facebook did it for advertising. The trouble is, these are not the right comparison at all.

OYO is more McDonalds than any of the above, a franchise model that needs to stick to quality.

The comparison is even more apt- McDonald’s is actually a real estate company (leasing would actually be a great business for OYO).

Franchises live and breathe by their brand, one poor experience taints the entire brand.

Uber, Airbnb, and Facebook do not take “responsibility” for the work of “independent contractor”, OYO has to.

The market that OYO operates(and is trying to disrupt) is also complex.

The very fact that is opaque and non-standard makes OYO a victim of scam-iness, these hotel operators have over-promised and under-delivered for years(e.g.here).

Changing them through SoPs is going to be hard, while McDonald s usually gives its franchises for fresh stores-with operators having demonstrated good history.

Moreover, one bad burger may not make for a lost customer, but being locked in for one bad night makes you more likely to lose a customer. 

Clearly, there are considerable obstacles- but there’s no value addition if there is no challenge.OYO had to purge hotels, make them “tech-driven”, do audits, be data-driven. All this has a cost, and it is clearly not small. Given this, how has OYO done overall?

OYO has grown from 4000 rooms in 2015, to 80,000 in 2016 and is at 2,00,000+ today.The company boasts of 1,25,000 rooms in India, and 87,000 in China(notice the falling China:India ratio).

What is intriguing is that although it has 5% market penetration in India (no saturation), it is rapidly expanding into other geographies (keep this question in mind).

In FY 2016, the company posted revenue of INR 40 Cr($6MM), while in FY 2017 it was INR 125Cr($20MM). The company today claims to host 125000 stay nights daily, or 45MM nights a year.

  per its own claim, does an average of $30 per night, so that implies a $1.35 Bn GMV- at a “net take rate” 15%, the company revenue run rate is $200MM in FY 2018. 

The company claimed its occupancy was 70% last year, but assuming the company has 200K rooms, and 125K nights stayed- occupancy has likely dropped it to 60%. To estimate CAC, the company had a marketing expense of 76 crores in FY  2017.

For a $20MM revenue, that is 600K nights. That assumes they had a 200k customers that year, and let’s assume 200K more were acquired for next year due to the company’s growth. That puts CAC at 1775(or $30).

In FY 2017, the company spent 194 Cr on employees. Per LikedIn, the company has grown from 3000 in 2017, to 6000 today.

That likely puts employee expenses at 400 Cr($70 MM). Notice the employee growth is 2x for a 4-5x growth in topline(operating leverage), at scale – this will increase profitability.

The company runs at a 50% gross margin, and we should now try to understand unit economics. (Note: Gross margin = Revenue minus Operating expense, which as per their classification is a direct expense).

An average spends $30 per night, for 1.5 nights and 2 visits. Therefore an average customer spends $90 on OYO  yearly.

OYO makes a 15% net take rate, or $13.5 at 50% GM, that’s $6.5 of margin per customer.

For the $30 CAC, it would take 4 years to recover. Company “sources” mention CAC is far lower at INR 558 ($8), which would still take a year to recover.

What is really intriguing is the 90% repeat rate that is repeated by the CEO (implying a 10% annual churn).

Using an Annual revenue of $13.5, at a 50% margin and 10% annual churn rate – we arrive at an LTV of $75.

If this is really true LTV is 2x CAC I computed($30), and this makes OYO a fairly robust business on a customer level.

The business, though is highly sensitive to repeat rate, if the repeat rate falls to 80% – the LTV is halved.

If these metrics are really true, the intriguing question of expansion despite no saturation gets answered – the business is a land grab of high LTV customers.

OYO’s biggest weakness, and biggest strength, that it is in high volume budget segment.

The segment, unlike premium, demands scale to make a business really big. Cost and brand are big drivers, and if the quality is not scaled, it can kill the brand.

If the brand can reach a high volume of customers, though, it becomes harder and harder for other brands to come in.

Customers want to look where they have more choice, hotels want to onboard where there are more customers (i.e.the definition of network effects).

The reason OYO is aggressively expanding supply is so that it provides a wider and wider choice to customers, who in turn help attract more hotels.

Acquire a customer and hotel today, monetize tomorrow and day after.

The bigger the moat, the higher the LTV. If the repeat rate is indeed true, there is sound logic in Son’s argument that the company could be widely profitable in the future like Facebook and Google.

Both these businesses and McDonald’s rely on high repeat rates. The success on OYO is pinned on having customers come again, and that may be definitive in its progress from being on a weak footing to strong foundations.

It has to ensure a tight and well- served experience for customers.

 

Zomato

Source
: www.yosuccess.com

Successful Entrepreneurs: Deepinder Goyal’s success story

Founder & CEO: Deepindra Goyal Deepinder Goyal 

Founded  in: July 2008, Delhi NCR

Headquarters: DLF Phase V, Gurugram, Haryana, India

Area served: 24 countries

Industry: Consumer Services

Initial name: “FoodieBay”

                          (In November 2010 renamed as ‘ZOMATO’)

Sector: Food & Restaurant Guide

Services: Restaurant Search & Discovery, 

                         Online Ordering, Table Reservations

                         & Management, POS Systems, 

                         Subscription Services

Employees: 5000+

Used through: Mobile Application

Target Mass: All Smartphone Users

Alexa Rank: 963

Tagline: “Discover great places to eat around you”

 

The vision of the Zomato:

“ZOMATO IS USED BY MILLIONS EVERYDAY TO DECIDE WHERE TO EAT IN OVER 10000 CITIES ACROSS 24 COUNTRIES. IN A FEW YEARS, WE SHOULD BE ABLE to HELP YOU TO A GREAT PLACE TO EAT NO MATTER WHAT PART OF THE WORLD YOU ARE IN.”

The mission of the Zomato:

“OUR MISSION IS TO ENSURE NOBODY HAS A BAD MEAL”.

  • History:

Business Idea found in office cafeteria – After MTech from IIT Delhi, Deepinder Goyal took a consulting job at consulting firm Ben & Company.  

While on the job, he noticed that during office lunches, his colleagues waited in long queues to watch menus in the cafeteria, wasting their time.

Being an engineer, Deepindra, who advocated the use of technology to make life easier, scanned menus and made them available online to save the time of colleagues.  

On seeing this post, it started getting many hits. It was from here that Deepindra got the business idea and decided to create an AC website and mobile application where people can get information related to the best restaurants in their city.

  • His business with a job:

This idea of ​​Deepinder Goyal was appreciated by his colleague Pankaj Chadha and decided to support him. 

While on the job in 2008, Deepindra started online food portal FoodieBay.com with Pankaj.  

The purpose of this portal was to make it easy for users to search for restaurants based on location, price, and popularity.

Throughout the year, FoodieBay started getting good feedback from the users, then Deepindra decided to leave the job and focus on the business. 

In late 2010, Deepindra decided to rename FoodieBay. There was a reason for this:

First, they wanted a name that was similar to food, short, and easy to remember.  

Second, they did not want any confusion with eBay in a name. Zomato met this test and turned into FoodieBay to Zomato.

Zomato provides all the requisite information regarding food items as well as places associated with them.

Zomato supplies different images of the place as well as the menu cards. 

In many of the cases, when any of the restaurants does not have its own website, Zomato gives all the requisite information about it.

If challenges are found then happiness too – “As an entrepreneur, you have to take tough decisions.”  

The first tough decision was to leave a safe job, ”says Deepindra. Raising funds from the different financial institutions, family members or friends in the first round and finding suitable employees was not easy.

They also started the events section, which had to be closed shortly afterward.  

While launching the first international operation in September 2012, they had a presence in 12 cities in India. Never thought that in such a short time they would spread to 155 cities in 19 countries.

Zomato ‘helpline number 6289934274 is an online restaurant search site that provides home-access service in the cities of 24 countries: Australia, Brazil, Canada, Chile, Czech Republic, India, Indonesia, Ireland, Italy, Lebanon, Malaysia, New Zealand, Philippines, Poland, Portugal, Qatar, Singapore, Slovakia, South Africa, Sri Lanka, Turkey, UAE, United Kingdom, United States..(home delivery), provides information.  

The Zomato history is inspirational and very interesting nature. Within one year of establishing the company, the sheer popularity of the company made it open centers in big cities of India such as Bangalore, Pune, and Ahmedabad, etc.

The .xxx domains had just come into the market back then and soon enough Zomato had a site running dedicated to food ‘****’. 

The Zomato company also then launched a book serving as a restaurant guide.

Whenever you have doubts such as what is tomato, you can always look up the internet and you will get information from it.

Zomato’s Parent company is Info Edge. Between the years 2010 and 2013, Zomato had raised nearly 16.7 million USD from Info Edge India. 

A total of 225 million USD has come from fundings since then. If we consider the global scenario, it has acquired 12 startups from throughout the world. There loads of great logistics partners associated with the company too. 

There are in the following manner described SWOT analysis of the company:

  • Strength of the company:

There are in the following manner strength of the company:

  • There is less investment in infrastructure. So asset less business
  • Covered global market i.e in  24 countries.
  • Easy to use by people, user-friendly application.
  • Users will get the special products I .e.focus on food and restaurants.
  • High awareness in the market
  • A weakness of the company:

There are in the following manner weakness of the company:

  • Limited growth of this business because in the market much similar applications like Zomato.
  • It might be possible that work inefficient employees.
  • More turnover ratio of the employee.
  • Lack of customization for the target market.

 

  • Opportunity for the company:

There in the following manner Opportunity for the company:

  • The company has the opportunity to expand its business in more and more countries.
  • A company can use technology for its growth of the business.
  • Day by day smartphone users is increasing.

 

  • Threats for the company:

There are in the following manner threats for the company.

  • In the market day by day, competition is increasing.
  • Government factors can be affected by the business. Anytime government rules can be changed.
  • It might be possible that your business model can be imitated by others.

 

  • Competitors of the company:

There are in the market many competitors of the Zomato in the following manner:

In today’s time, major competitors of the Zomato is- 

Swiggy & Food panda



 BookMyShow

                                      

Successful Entrepreneurs-Ashish Hemrajani Success Story

 

  • Company: Big Tree Entertainment
  • What’s special about it: The introduction of online entertainment ticketing
  • Business worth millions in movie ticket sales

When you hear a word i.e BookMyShow what’s the first thing that comes into your mind… Is this Movie Tickets?

Before launching the BookMyShow you had to go stand in a queue for hours at the theatre for purchasing movie tickets, but after that, you can purchase movie tickets even sitting at your home.

There was a time when you face the trouble of watching a movie and you would realize after reaching the theatre that the movie is not being played thereafter that you have to go some other theatre, it’s the loss of time and money both.

You just walk up to a theatre with hopes of finding a good movie and reaching there than to realize that the movie was half done its creat more irritation for you.

This BookMyShow has brought theatre or rather every released movie with review in the pocket of all people and changed the ticketing system for movies and events in India.

It has also largely contributed to public closer to movies. 

BookMyShow provides many services are in the following manner:

  • Movie trailers, 
  • Theatre availability,
  • Movie songs, 
  • Movie show  timings,
  • Movie releases dates,
  • Movie details, 
  • Movie reviews,
  • Booking tickets etc..,

 

  • BookMyShow History:

After his MBA from Mumbai University, Ashish’s next stop was a job. In 1997, he started his career with advertising company Hindustan Thomson Associate.  

During this time Ashish went to South Africa. Here, new ideas started coming in the mind of 24-year-old Ashish, influenced by the facilities available through the Internet.   

This South Africa’s trip changed his life and an idea struck him, while Ashish was sitting under a tree and listening to radio promoting rugby tickets.

Ashish kept thinking about these ideas while returning from Africa.

Ashish came back from South Africa, and quit his job and decided to start his own company, with it is head office being his bedroom.

After that the co-founders Parikshit Dar who took over Technology and Rajesh Balpande who took over Finance joined with Ashish, approached investors.

He searched the website of international ticketing companies like Fandango and Ticketmaster.

Think about those days, it was not as easy as it is now, to get investors for your business and with internet and advanced technology not that prevalent it was even more difficult to present your proposal in front of an investor.

They got their first investor JP Morgan- Chase Capital Partners by sending their proposal through “FAX”..!!

And it is not just a proposal but ONE-PAGE fax stating just the business model.

With this ONE-PAGE Fax that they were convinced and agreed to fund them with INR 2.5 crores for their business.

They ran their business under the brand name ‘GoForTicketing’. In 2002, they rebranded to ‘IndiaTicketing’, before finally being called ‘BookMyShow’.

His journey of sixteen years can be taught so many things and faced every bitter truth of life to him.

He started his business with INR 25000 as capital and reach his business to INR 1,000 crore in valuation. 

  • He has difficult challenges but, he has strong intentions:

Ashish decided to sell movie tickets in his country via telephone and internet and quit the job for this. 

This was a period when cinema tickets were not sold well.  

In such a situation it was quite difficult to take this decision, despite the challenges, he founded Big Tree Entertainment in 1999.  

Taking the first step in this direction, Ashish sent an email to Chase Capital outlining his business plan, the response came from around seven days later and he started the business with an investment of half a million dollars of funding.  

During this time the country was getting acquainted with computers.

Now it was not an easy task to sell movie tickets online during that time because of obvious reasons fewer people used to have credit cards, debit cards and nobody was aware of net banking.

Another problem was that there was poor broadband connectivity and lack of e-ticketing software in theatres and single screens.

So Ashish used to buy tickets in large quantities from theatres first and then make them available to the customers.

They literally bought tickets in bulk and sold tickets to customers by sending 1000 of people to deliver tickets on motorbikes and give them a ticket for watching movies.

Due to the non-scalable business model, many-a-times they faced losses.

But with the change in the laws gave them ease. Their major business was offline or at their 12 call-centers in 12 cities.

They were doing good business even though difficulties in that. And they are accounted for 150 employees.

As well the Dot Com industry was booming. So Chase capital partner sold off their stake to Rupert Murdoch’s News Corp.

Then in 2002, unthinkable things happened in 2002, the Dot Com market crashed and their downfall started!

His journey from Big Tree Entertainment Pvt. Ltd to BookMyShow.com and Dot Com crash to Global Financial Crisis, he and his company has faced so much trouble.

His journey  is clearly divided into three sections which are:

  • A RISE, 
  • Then a FALL and 
  • Finally an unbeatable comeback.
  • Big Tree Entertainment Pvt. Ltd to BookMyshow.com.

Among all the challenges, Ashish did not give up.  In 2001, Big Tree had a team of 160 employees ready when Dotcom came to a standstill.  

Ashish also had to take tough steps to overcome this. 

Due to continuous efforts, he pulled the company out of the crisis and in 2002-04 gave the company the status of Software Solution Provider, which provides automated ticketing software to theatres. 

 In 2007, Ashish re-launched Big Tree as Book My Show.  Today, Book My Show has joined the valuation club of 1000 crores and the company has acquired more than 90 percent business of online entertainment ticketing.

BookMyShow reported revenues of INR 16.09 crores in 2011, and as compared to the revenues of FY10 – INR 12.16 crores, There was a significant growth of 32.36%.

 Then BookMyShow started tying up with mostly all the cinema and multiplexes exist on overall India.

It creates history and made a record of selling 1 lakh tickets in a single day and over 2 million tickets in a month, in July 2012.

‘The Hottest Company of the Year-2011-12′ award received by BookMyShow.

In December 2012, ‘The Company to watch out for’ at the prestigious CNBC Young Turks award followed by an acquisition of TicketGreen.

In Tamil Nadu startup which added 100 single-screen cinemas into their inventory.

BookMyShow got another investor from US-headquartered Accel Partners with the INR 66 crores in total at an approximate valuation of INR 250 crores in 2013.

It reaches are beyond limits within few years of launching and it secured itself in every way and that their and following the same theory it expanded to global markets also like Malaysia and New Zealand. 

BookMyShow not only expanded to different places but it also expanded in every genre and served as an exclusive ticketing partner for brands and it will ease for customer like:

  • Formula 1, 
  • Indian Premier League, 
  • Aircel Chennai Open, 
  • Super Fight League, 
  • Yonex Badminton Championships, etc.

Later in 2013, by adding 250 new cinema screens to their 1500+ cinemas which are currently handled by 200 people plus 150 outsourced employees, they managed to tie up in PVR Cinemas by signing a five-year strategic partnership deal and make the growth of their businesses.

In 2014, they are now collaborated with over 1,500 cinema screens across 200+ cities in India for movie ticketing services as well as providing software solutions to them.

BookMyShow currently accounts for USD $100,406 monthly revenue through advertisement with 500 million page views per month and 35-40 million unique visitors included in a month.

They are increasing their image in the market day by day like:

  • It’s Facebook page hits 1 Million fans, 
  • An Alexa World Rank of 986 and
  • Currently, BookMyShow plans to launch an IPO in the next couple of years.

TIPS:

You should learn how Ashish Hemrajani’s idea for the business came about and how it marketed, increased its brand image in the market, and elevated its business. 

Not only in India but also overseas they will grow their business.

 

Luxottica Group S.p.A.

Successful Entrepreneurs-Leonardo Del Success Story

Company Name: Luxottica Group S.p.A.

Founder               : Leonardo Del Vecchio

Parent  Company: EssilorLuxottica

Industry: Eyewear manufacturing, luxury, eyewear manufacturing and wholesale 

                               distribution, eyewear retailing. 

Founded in: 1961(Agordo, Italy)

Headquarters: Milan, Italy

Presence: Worldwide

Products: Sunglasses, spectacle frames, prescription frames

Services: Opticians, optical retail, sun retail

Number of employees: 82,358 (As per 2018)

Revenue: € 8.929 billion (2018)

Where to start: Father used to run a vegetable carton the road.

                           

  • Early Life of Leonardo Del:

Leonardo Del Vecchio opened a shop selling eyeglass frames in 1958. 

Today his company Luxottica owns the most prestigious brand in the world.  

In Milan, Italy the birthplace of Leonardo. Leonardo Del Vecchio was born on 22 May 1935. The father used to run a vegetable cart on the road. 

His Childhood was not as good as most of the child has it? When they were seven it was unable to take care of the children the mother sent them to the orphanage.

At the age of 14, he started working at a toolmaker company in Milan. Later, he was admitted to the evening class for doing industrial engineering course. 

During this time he worked all day and studied in the evening.

  • The struggle of his:

From Milan, they moved to a small village near Vainis, where all kinds of spectacles were made.

There were large industries and there was also much to learn. 

For a few years, he continued to work and gain experience.  Then he opened a small shop of eyeglass frames.

Three years later, this shop was converted into a manufacturing unit for making eyeglasses. Then 14 people worked with him.

There was stiff competition, but the Leonards set up their company Luxottica, furthering their work. 

For ten years the company continued to make frames for others. In 1976, it ceased operations and launched its own brand of spectacles. 

Leonardo built a great business network that was difficult to beat.

Luxottica captured the market on the strength of the future and their ability to make timely decisions. 

In 1980, he started expanding his company.

They started doing business as far as Europe and America. Leonardo acquired several companies. 

It also included Italy’s iconic brands such as LensCrafters, Persol, and America’s most respected company, Ray-Ban.

Over time, Luxottica acquired several big brands, including Oakley in the sports segment. 

Today Luxottica also owns some of the world’s largest brands such as Versace, Ralph Lauren, Chanel, and Armani.  

In an interview, Leonards said that we were contract suppliers and supplied goods to many factories. 

We knew that the day we start assembling ourselves, our goods will be cheaper than anyone.

We made a sample and the wholesaler agreed to take it.

According to Forbes, today he is the second richest person in Italy and the 40th richest person in the world.  He has assets of $ 24.2 billion.

Started in a shop with 14 employees, the company today has around 82000+ employees and a sales of over $ 10 billion. 

Luxottica Group has more than 7000 retail stores worldwide. This group has 6 manufacturing plants in Italy.

Apart from this, there are three plants in China, one in India and one each in Brazil and America.
















 

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