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How Ratan TATA’s brilliant business STRATEGY made it the KING of Indian AC market? : Case study
Voltas is one of the most amazing brands in the Indian business eco-system!! and if you look at the stock price of Voltas you will see that it has shot up by 14,200% going from just over 6.93 rs in 2000 to 995Rs in 2022!! So if you invested, 10,000 invested in Voltas would be worth 14 Lakh Rs today. But while most of us know Voltas as a Tata backed market leader in Airconditioners, very few of us know that there was a time when Voltas was almost on the verge of being shut down!! They were in such a pathetic state that they went from having a market share of 40% in 1990 to just 6% 2001!! But suddenly something crazy happened, the same Voltas brand went to become a market leader in the 10 years and stands as market for 10 consecutive years now beating every single brand in its category!!
The question is?
How did this failing go to become a market leader?
What were their business strategy?
and most importantly, as future entrepreneurs and students of business what are the lessons that we need to learn from the extraordinary revival of Voltas!!