‘Rome was not built in a day’ – the French proverb stands true for legacy businesses, which have withstood the test of time to not only validate their products but also inspire the next-gen leaders to be entrepreneurs. Waking up to the changing trends and technological advancements, torch-bearers of these legacy business are either taking these conglomerates into new territories or re-inventing themselves, keeping the core values intact. Tracing their journey, Entrepreneur talks to these legacy masters.
Established in 1884 by Vaidya N. Vasudevan Unni, former palace physician to the Maharaja of Travancore, Vasudeva Vilasam has an unmatched legacy in Ayurveda. He passed on the science to his sons, who passed it on to the next generation, making it relevant with changing times. Starting from just three basic products, the company has a product line of over 500 and has diversified into rehabilitation, spas and wellness centres.
Pradeep Jeothi, Managing Director, Vasudeva Vilasam is the man carrying the legacy on his shoulders. He has a clear plan – he wants to move out of Kerala and expand across the country. His products are a hit with the European market, but in India their operations are restricted to the south. He intends to not only setup a manufacturing unit, thanks to the sudden demand of his products from North India. One of the lessons he has learnt from his forefathers is the need to believe in the product and stay true to the promise.
“Wellness is a growing sector. We are planning to open clinics that cure pains, like shoulder and joints in Northern India. We will not only market our products, but also setup shops, for more prominence,” says Jeothi. The company’s forefather used to give three products to Brahmins bathing at the temple near the Travancore Palace, which were hair & body oil and a tooth powder. The company is still selling these core products, however, has rebranded them 10 years ago to make it relevant. Vasudeva’s products are also popular in countries, like Russia, Germany, Italy and several European countries. Already operating under healthcare, wellness and fitness products, Jeothi wants the company to branch out into the food supplement market, considering it as the next big thing. With a pan-India approach, he plans to set up a factory in Uttarakhand and Karnataka. True power of a quality product!
FOR HIM PRODUCT IS KING
This story is from the August 2016 edition of Entrepreneur magazine.
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This story is from the August 2016 edition of Entrepreneur magazine.
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