The following article is an initiative of CNBC TV18 and HSBC and is intended to create awareness among the readers.
Honestly speaking, it's an impressive story that brings to fore the power of staying focussed. Some five decades ago, the late Punamchand Shah started a small trading outfit with a modest investment of 7000 rupees. Today, that investment has bloomed into 200 crore rupees manufacturing company called All Time Plastics that produces a range of plastic-based home ware, kitchenware, bath ware, tableware and children’s products.
And if that is not enough, All Time Plastics’ wide range of products which adorns Indian homes also finds their way into foreign homes in 42 countries. That global reach has been possible because of the unflinching quality and timely innovation by the founder’s three sons -- Kailesh, Bhupesh and Nilesh.
Today, the company rolls out 180 million plastic based space solutions annually from its three manufacturing facilities located in Daman & Silvassa, a union territory bordering Gujarat and Maharashtra. The operations are marked by Shah brothers’ obsession for quality, focus on cost, AND installation of the state-of-the art machineries. Result: All Time Plastics products has 50% more shelf life than its competitors, claims Shah Brothers. Also, the products come with an assurance of heat resistance and food grade making them safe for any time use. It is these qualities that have endeared the company to global brands like Walmart, TESCO and IKEA. These three major players contribute to 75% of the company’s turnover.Moving on from plastics to an innovative online marketplace. Let's talk about Blubirch. It was in March 2017 that a leading BFSI company decided to dispose of around 4700 units of its decommissioned assets like laptops, desktops, servers and other IT peripherals as e-waste scrap. Under usual circumstances, the company would pocket a nominal amount or at worst would have to pay from its own pocket to dispose of the e-waste. Fortunately for it, Bengaluru based start-up Blubirch came into the picture and turned things around. Blubirch evaluated the inventory of e-waste and concluded that money could be made from its sale. Next, it uploaded the inventory on its platform and within few days realised a sum of 65 lakh rupees by selling it to resellers. Using the platform, the BFSI major was not only able to make a good profit on the sale but also but also eliminated the generation of 38 metric tonnes of e-waste.
Founded in 2014 by Sapan Jain, Jeby Cherian and Amit Goel Blubirch has emerged a leading player in the reverse logistics space. On a daily basis, some 3000 units of refurbished, unutilised or returned IT & electronic products are sold on its platform. Not only this, it has built a network of 2500 buyers from 35 cities who in turn buy products from 60 suppliers. This pan India network is one of the reasons behind the success of Blubirch.
Having developed a sustainable platform to monetise e-waste, Blubirch has adopted a multi-channel approach. In the enterprise segment, it offers services such as asset life cycle management, asset buyback services, procurement services, trade-in program, refurbishment services, and rental services. To retailers, it provides services such as grading and valuation services, exchange programs, sells customer returns, and excess inventory.
In the end, bridging the trust deficit gap in a fragmented industry is proving to be beneficial for the Blubirch. As till date, it has sold inventory worth rupees 80 crores through its network. But this is still a small drop in the ocean as the market size is estimated to be around rupees 22,000 crore and promoters are planning to enter the shoe and apparel category. Given the scope and expansion plans, the future seems pretty rosy for Blubirch.
Catch the amazing entrepreneurial journey of both these businesses on the exclusive Web Series; “The Entrepreneur “. This series is brought by CNBC-TV18 in partnership with HSBC and is back with Season 2 of its webisode series.