Vijay Sales was founded in 1967 by visionary businessman, Nanu Gupta. Even after more than five decades in the competitive electronics retail chain, Vijay Sales has become one of India's most preferable destinations for consumer electronics. The retail chain's headquarters is located in Jogeshwari, Mumbai. Vijay Sales currently has 134 stores across the regions of Uttar Pradesh, Gujarat, Maharashtra, Haryana, Delhi, Andhra Pradesh and Telangana.
With more than 3500 electronic products across 11 major categories, Vijay Sales offers a wide range of consumer electronics. Despite facing continuous competition from Yodacart, Arzooo, and Croma, Vijay Sales continues to grow at an impressive pace. Apart from waiting for Amazon and Flipkart's season sales, Vijay Sales has been at the top of almost every person's shopping list.
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According to a report in Your Story, Nanu Gupta opened the first-ever branch of Vijay Sales in Mahim, Mumbai, which was just 200 sq ft at the time. However, after decades of hard work, the same outlet has now been expanded to 40,000 sq ft. Not only this, but Nanu Gupta's first store has now become an important landmark in the city.
Today, we are going to take a look at Nanu Gupta's, aka, Bade Sir (fondly referred to by his team) entrepreneurial journey and how he managed to build a company that achieved a turnover of Rs. 7,100 crores in FY23 (2022-2023).
The ace entrepreneur, Nanu Gupta was born in Punjab province back in 1942. It was in 1954, when he moved to Bombay and started working as a distributor for Usha International Limited.
During his time at Usha, he learned all the tricks of dealing with customers and understanding their demands. After working as a distributor for Usha's electric fans for some time, Nanu Gupta decided to become an entrepreneur. He had the idea of building an electronics superstore in his mind, but at the beginning, he focused on selling televisions.
Sadly, just like most great entrepreneurs, Nanu Gupta had no money, but he knew that his idea could generate a lot of money. Hence, he borrowed an initial sum of Rs. 2000 from his family and close friends.
According to a report in Your Story, Nanu Gupta used that money to purchase a 200-sq-ft room in Mahim with the name, Vijay Television Store. It was in 1981 that the businessman shortened the name and changed it to the present name, Vijay Sales.
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Once, in an old interview with DNA, Nanu Gupta opened up about the secret behind his success as an entrepreneur. Sharing the four elements that became the foundation of his business, Vijay Sales, Nanu Gupta stated that he always prioritised customer satisfaction. The founder even added that he used to visit his customers personally to solve their problems. Nanu Gupta said:
"I started it with four things: best products, service, price and honesty."
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In another interview with The Hindu Business Line, Nanu Gupta also shared how he used to keep all the TV sets open in his showroom, while others kept their switched off. The entrepreneur added that it was his strategy to attract customers and it paid off in the long term. However, Nanu Gupta also admitted that it took more than 20 years to start the second branch of Vijay Sales.
As of now, Nanu Gupta is the Founder and Chairman of Vijay Sales, while his sons, Nilesh Gupta and Ashish Gupta, are the company's directors. Nanu Gupta's grandson, Karan Gupta, is also involved in their family business and serves as the director.
With most of the Gupta family invested in their family business, they're doing everything in their power to take Vijay Sales to the next level. In an interview back in 2021, one of the senior executives of Vijay Sales revealed that the company is aiming to double its sales by 2025. The annual sales of the company were around Rs. 4000 crores back then, and as per the senior executive, Vijay Sales was aiming to take the number close to Rs. 8000 crores to Rs. 10,000 crores.
With a massive fanbase of 103K followers on Instagram, Vijay Sales is out all guns blazing in their pursuit of touching the Rs. 10,000 crore mark, and if things are going to continue the way they are, it's going to be a reality for the leading consumer electronics retail chain.
Well, we are inspired by how Nanu Gupta has built a brand of this stature despite being in the competitive consumer electronics market. What are your thoughts on his entrepreneurial journey? Let us know.
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