This story is about a person who used to work as a peon and later he became a successful entrepreneur to build a company with more than Rs 6,000 Crores revenue!
The person is Mr. Balvant Parekh who was born in Mahuva, a small town in Gujarat in the year 1924.
One day, he decided to start his own business with the help of an investor and started importing cycle, areca nut, paper dyes from western countries. He observed that the Indian Adhesives Market was dominated by glues made from animal fat which were clumsy and cumbersome.
The adhesive market in India was unorganized and had very few branded products.
Seeing this as an opportunity, his company started manufacturing white synthetic resin adhesive (white glue) called Fevicol which made the lives of carpenters easier.
Fevicol was initially used only for industrial or commercial purpose (like in furniture making industry).
Fevicol frequently sponsored activities for carpenters and their families like free dental checkups, celebration of festivals, scholarships for children, blood donation camps etc.
Fevicol Champions Club (FCC) was another innovative initiative which built a platform for carpenters to increase their social contacts.
🐘 Today, the word Fevicol has become synonymous with glue in India and the brand has close to 70% market share!
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