Global Stones – Going against the grain
“Persistence, eagerness to take action and confronting obstacles whilst not being deterred has helped us reached where we are today.”
Exploring global markets–
The industry came by chance to Mr. Mayank Shah (Founder), who purchased the business assets in a bank auction and turned it around with sheer determination and a positive attitude. The North Indian Granite markets were previously unexplored, which propelled Mr. Shah to create new avenues of growth in the industry. What differentiated Global Stones from its competition, apart from being one of the first to enter the market, is that their top-of-the-line machinery and skilled production teams aided in providing high quality products to customers. They also regularly mine and excavate new colors and patterns from quarries and this helps them expand their product range and keep up with rising consumer demand.
Disrupting a dying industry–
Hailing from a business family in Kolkata, Mr. Shah started working at the age of 18. This gave him valuable life lessons that he built upon and he utilized his experiences to the fullest. His early taste for hard work and dedication made him hungry to start a high-fashion garments company in 2001. However, he wasn’t satisfied just yet. He took over a bankrupted unit in 2004 and turned it around and made it one of the most successful companies in the Granite and Marble industry. It was his sheer business acumen, marketing prowess and an attitude that ensured delivering on commitments while maintaining consistent quality that made his brand so popular, not only in India but also in the US market. People were buying his products across the globe, making Mr. Shah an industry leader in the country.
Recognized across the industry–
Most notably, the Capexil Award for Export Recognition has been regularly awarded to Global Stones for the last 10 years of its existence. Global Stones has also received the Worldwide Achievers Award for “Revival of Dying Granite Industry of North India” (Business Leader’s Summit & Awards 2016).
When Mr. Shah took over the defunct unit in 2004, the people in the industry challenged him that he’d pack up and leave within 6 months. It was his first lesson as an entrepreneur and the first challenge that he had to overcome as a leader. Because it was a new business to him and the market was saturated with poor demand growth, Mr. Shah had to overcome many barriers to make his new venture grow. He had to pick up where his competitors left off and ensure that he grew the brand over time, along with providing income to hundreds of workers that lived in the region.
Resurrecting a dying space -
In his own words, Mr. Shah believed that the industry wasn’t in good shape after all the years of neglect. It was primarily due to mismanagement combined with poor demand and displaced focus. While it took several years for the industry to rise again, it involved hard work, long hours and a positive attitude to obtaining all the success that he hoped for. Now, this Indian brand is a worldwide supplier to key markets and regions across the globe.
Going beyond helping employees' families-
Apart from taking care of all its employees’ families and their various needs, Global Stones also helps a variety of NGOs whenever they can. They’ve lowered their ecological impact by including a rain water harvesting system in their plants and recycling elements embedded in their units.