Asian Paints has been around for a long time now. In fact, the company has been absolutely killing it for more than 75 years now.
But how did a single paint company start dominating the biggest national and international competitors in India?
Let’s talk about the start, the growth, and the impact of Asian Paints over the years.
When in 1942 there was a temporary ban on the import of paints in India due to World War II, only a few paint companies in India had a fairly significant presence.
Even though Shalimar paints was an existing competitor in the market, even they felt the pressure of the circumstances. Of course, the situation wasn’t feasible enough to even think about starting a paint company.
However, a 26 yr old Champaklal Choksey at the time saw this as the right time to make an entry in the market along with three of his friends. The company initially started in a small garage in Bombay, which kicked off the inception of Asian Paints at the time.
After its inception, Asian Paints was already pulling in massive numbers as it bagged over ₹23 Cr by 1952 as its annual turnover.
By 1967 only, the company got its title of being a leading Indian paint manufacturing company, a position it still stands at. Over the course of its duration, the company has managed to establish a very successful business empire.
However, it wasn’t always as easy for Asian Paints as it seems. As it started, the company couldn’t really convince the big guys in Bombay to help them out. This is why Asian Paints started its distribution in smaller regions of India first.
And unsurprisingly as the company was doing well in rural areas, the big Bombay distributors started approaching Asian Paints, which brings us to today, a revenue of more than ₹22,000 Crores.
Asian Paints over the years has successfully managed to deliver a CAGR of more than 20% for more than 60 years. This is because of the undivided attention it has towards branding, marketing, and an efficient supply chain.
With a wide range of products and an effective marketing strategy, Asian Paints has become a cost leader in the decorative paints segment now.
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