In a remarkable tale of resilience and triumph over adversity, Tushar Jain, along with his father Moolchand Jain, has carved out a success story by establishing one of India’s leading bags companies, High Spirit Commercial Ventures Pvt Ltd, with an impressive turnover of Rs 250 crore.
The journey to success for Tushar and his father began against the backdrop of financial hardship caused by the infamous 1992 Harshad Mehta scam. Like many others, they faced financial setbacks, prompting them to navigate the challenging path of selling bags on the streets of Mumbai to sustain their family. However, this adversity became the catalyst for their entrepreneurial journey.
Undeterred by the setbacks, Tushar and his father founded High Spirit Commercial Ventures in 1999, marking the inception of their entrepreneurial venture. The initial operations involved the establishment of 300 shops, and in 2002, they decided to relocate to Mumbai to further expand their business horizons. By 2006, they had forged significant partnerships with major clients, focusing on supplying personalized bags. Their dedication and hard work manifested in the establishment of factories, enabling the production of three to four thousand bags daily by 2007.
Tushar, now serving as the Managing Director of the company, introduced Traworld and Hashtag in 2017, further diversifying their product offerings. In a strategic move, they collaborated with renowned actor Sonam Kapoor Ahuja, designating her as the brand ambassador for Transworld, which added a touch of glamour and enhanced the brand’s visibility.
The company has experienced exponential growth, solidifying its presence in the Indian market. With 10 regional offices across the country and its headquarters in Mumbai, High Spirit Commercial Ventures has earned the distinction of being the fourth-largest seller of bags and backpacks in India. The company’s commitment to quality and innovation has positioned it as a trusted name in the industry.
Looking towards the future, Tushar and his father envision achieving a revenue milestone of Rs 1,000 crore over the next four to five years. As part of their expansion strategy, they are establishing a flagship facility in Patna, Bihar, with the capacity to manufacture 25 lakh bags annually.
The journey of Tushar and Moolchand Jain stands as a testament to the power of determination, resilience, and entrepreneurial spirit. Their story serves as an inspiration for aspiring entrepreneurs, especially those emerging from humble backgrounds, demonstrating that with unwavering dedication, one can overcome challenges and achieve remarkable success.