Godrej Group is the name that comes to everyone's mind when we talk about one of India's oldest and most successful conglomerates. Over the decades, we have seen a series of conglomerates rising, ruling, and falling as they fail to pass the test of time. However, Godrej Group is one of the few conglomerates in India that have been standing tall and dominating different sectors for more than 100 years. It was founded back in 1897, and as of now, in 2024, Godrej Group's valuation is around the estimated sum of Rs. 1.76 lakh crores.
Godrej Group operates in a series of industries like real estate, appliances, furniture, security, agricultural products, consumer products, and industrial engineering. The renowned conglomerate also has multiple subsidiaries and companies, including Godrej Industries, Godrej Consumer Products, Godrej Agrovet, Godrej Properties, and Godrej & Boyce Mfg. Co. Ltd.
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Ardeshir Burjorji Sorabji Godrej, better known as Ardeshir Godrej was born into a wealthy Parsi family in Bombay (now Mumbai). His family used to deal in real estate, and it was in January 1871 when Ardeshir Godrej's father changed their family name to Godrej. The reason behind this is not known, but the entire clan accepted the change in their family name. It was in 1890 when the 22-year-old Ardeshir got married to Bachubai, who was just 18 at the time of their marriage.
After his wedding with Bachubai, it was in 1894 when Ardeshir Godrej completed his law degree and started working as a lawyer. Not only this, but due to his family's wealthy status, he went to East Africa in order to practice law. However, due to some bad experiences while working as a lawyer in East Africa, Ardeshir Godrej quit law and came back to India. Upon his return to Bombay, he found a job at a pharmacy, where he used to assist a chemist. While he was assisting a chemist, Ardeshir saw a massive opportunity in manufacturing surgical equipments and took a loan of Rs. 3,000 from his father's friend to establish a manufacturing unit.
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When Ardeshir Godrej entered into the manufacturing business of surgical equipments, he got the chance to work for a British company. The young businessman accepted the proposal, but soon, a dispute arose over the branding of the products. While the British company wanted to sell the products by their name, Ardeshir was adamant about putting the name 'Godrej' on top of products, along with a 'Made In India' tag. After manufacturing surgical equipments for some time, Ardeshir closed it and jumped into the business of locksmithing, which laid the foundation of Godrej Group.
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After leaving law and trying his hand in the manufacturing business of surgical equipments, Ardeshir Godrej joined hands with his brother, Pirojsha Burjorji Godrej, when he heard about the massive surge in the cases of theft in Mumbai. On May 7, 1897, Ardeshir and Pirojsha began working for their dream company, Godrej Group. From beating British locks to making almirahs, Ardeshir and Pirojsha made the world's first soap without animal fat, which took their company's reputation to a notch higher.
After India's Independence in 1947, Ardeshir Godrej and Pirojsha Burjorji Godrej expanded their business to different sectors. It was their excellence in locksmithing which made their company, Godrej, one of the most profitable companies in India. Another major milestone in Godrej's journey that made them a renowned brand across India was when they were given the contract to make 17 lakh ballot boxes for the first Lok Sabha elections in independent India back in 1951. In the following years, Godrej became almost every Indian's first choice when they were planning to buy almirahs, refrigerators, electronic items, and home appliances. Fast forward to 2024, and Godrej Group has an estimated value of Rs. 1.76 lakh crores.
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It was in May 2024 when Godrej Group released an official public statement in which the conglomerate clearly stated that it was going to split into two parts. On the one side, we have Adi Godrej and his brother, Nadir Godrej, on the other side, we have their cousins, Jamshyd Godrej and Smita Godrej Crishna.
As per the statement, the decision to split their 127-year-old family business was a mutual decision which was taken by all the members of the Godrej family. The split will help maximise strategic decisions and create long-term value for the conglomerate. It will be interesting to see whether this split will strengthen one of India's oldest conglomerates or if things will go sideways.
It's incredible how Ardeshir Godrej built the company Godrej, which is now one of India's leading conglomerates. What are your thoughts on his journey? Let us know.
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