Facts About Success Story of Asian Paints Founders
Asian Paints Ltd is an Indian multinational paint company, whose headquarter is in Mumbai. It is one of the leading and largest companies of Asia in the current scenario. The company is engaged in manufacturing and selling of paints, coatings and various other products related to home décor. The journey of Asian Paints achievements, accomplishments and challenges is an inspiration for many.
Asian Paints Ltd was started by four friends namely, Champaklal Choksey, Suryakant Dani, Chimanlal Choksi and Arvind Vakil. They want to do something progressive and creative so they decided to start a small company in their friend’s garage in Mumbai. They all belong to Jain families and decided to set up the company in February 1942. But there was a temporary ban on paint imports during the World War II and Quit India Movement. In the year 1952, Asian Paints took up the market and reported an annual turnover of Rs. 23 crores. By the year 1967, despite all hurdles and ban it became the leading paint manufacturer in the country.
There was no looking back after that. The company is enjoying the zenith level of success even today. At present the company along with its subsidiaries have 26 manufacturing facilities across 16 countries serving customer globally in over 65 countries.
Due to certain disputes and after the death of one of the partners, the shares of the company were equally divided among other family members with the consent of all the partners. The reason of survival of Asian Paints in today’s world after facing all the storm is because they have understood the foreign market and their requirements. They have well planned marketing strategies for every challenge in the market.
The most successful product of Asian Paints was “Washable Distemper”. It was launched with the motive to balance the cheap dry distemper and expensive plastic distemper. To attract the customers, they used the tag line like, ‘ Don’t lose temper, use tractor distemper’ and ‘Har Ghar Kuch Kehta Hai’. Asian Paints kept doubling its revenue every year by upgrading themselves at every level, whether it would be technology or marketing strategies. They are prepared for each and every challenge.
They have changed the mindset of people related to painting of walls. Before people used to think that painting is done only when walls are peeled off. But now, painting the walls has become more of a home décor and lifestyle with the lustrous colours that add beauty to the interior.
The story of Asian Paints Founders is truly a motivating one. A journey which started from a garage has now reached to the level of leading companies of the world. They have truly shown us that self believe and determination can help us achieve anything. If we want to do anything, then we need to stand up and give a try or else we will never be able to stop others from raising questions towards us. They also had their own share of challenges, downfall, self doubt but one thing never stopped them from working hard was their self believe and team work. If we believe in ourselves and stick to our decisions then nothing can stop us.