In 2013, Shashwat Goenka took up the challenge of turning around the loss-making Spencer’s Retail Ltd., the retail chain of the RP-Sanjiv Goenka Group. Two years later, Spencer’s seems to be hitting its stride with large format stores and a new strategy.
The 25-year-old scion speaks about his journey after taking charge, the skills and ethics learnt from elders and his future plans.
The rise of Marwari industrialists is largely credited to their entrepreneurial acumen, credibility as businessmen and their community spirit. To ensure continuity, before passing on the baton, the older generation not only instils discipline in their heirs but also trains them well for business. These managerial skills later go on to guide the younger generation during their stints in the company and are a boon when they take up new ventures. MARWAR talks to entrepreneurs from the community about how skills and ethics they learned from their elders helped them in the business arena.