#KeralaEntrepreneurStories #UmbrellaDuopoly #OneFamily #TwoBrands #PopyAndJohn
It's uncommon to hear great entrepreneur stories from the "Two States" ruled for decades by Communist parties, West Bengal & Kerala.
The umbrella brand wars of Kerala are another level.
While there is no specific number to ascertain the size of India's umbrella market (given how large the unorganised bit of it is), industry players peg it at around Rs 2,000 crore.
According to the industry insiders, roughly 1.20 crore umbrellas are sold in the country annually (not much, considering we are more than 30 cr households now ).
The key challenge facing this industry is threat posed by cheap Chinese imports that make it difficult for local players to compete on price while maintaining quality standards .
To support #MakeInIndia the duty on umbrellas was raised to 20 percent and exemption to parts of umbrellas was withdrawn in the 2022 budget.
So it's even more interesting to hear about the innovation, quality & price wars of these two iconic Kerala umbrella brands.
The largest market is said to be Kerala (estimated at Rs 700 crore) dominated by these two Kerala companies - John's and Popy's Umbrellas.
Other major brands in India include Mumbai-based Sagar Sons that sell under the brand Happy, Mysore-based Sun umbrellas, Kolkata based Citizen umbrellas, among others.
The story begins in Aleppey (Allapuzha) of the 1940s, then part of the State of Travancore, where Thayyil Abraham Varghese (known as ‘kuda’ Vavachan) was an employee of the Kumaraswamy Reddiyar-owned Radhakrishna Umbrella Mart.
Later, Vavachan went on to become a working partner of the firm, before starting his own umbrella-manufacturing unit named St George Umbrella Mart in 1954 with his younger son TV Scaria.
When Vavachan passed away in 1968, the St George brand had become a household name in Kerala with a monopoly in the umbrella manufacturing business.
Vavachan’s elder son Abraham Thayyil went on to qualify as a medical practitioner and Scaria carried forward the St George legacy to scale greater heights.
It was in the mid-1990s, when Thayyil retired from the Alappuzha Medical College and the next generation entered business that the family enterprise split up.
Scaria went on to establish the Popy brand in 1995, and Thayyil and sons branched out on their own with the John’s brand.
Their competition has also led to innovation that is unprecedented in the Indian umbrella market.
Rest see this video uploaded 2 days ago which makes this business story interesting.
https://lnkd.in/gPsCqN7N
https://lnkd.in/gicvceC7
https://lnkd.in/gcTrpaud
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