With her determination and commitment towards work, Dipali Goenka has transformed Welspun into a global Textile star. The journey started in 2002 when Dipali Goenka, who was a homemaker back then and the wife of Balkrishan Goenka (the Chairman of the Welspun group) decided to become an executive.
A tough beginning
Welspun Winilon Mills was only a small texturizing unit at that time and had just started leading the industry globally. And Dipali, a major in psychology was not taken seriously in this field. People believed that she was in the office just because she was the owner’s wife.
Not paying any heed to all the skeptic remarks, she started her own brand Spaces with the aim to provide premium towels and bedsheets. In 2011, she took charge of the company and left everyone speechless with a remarkable rise in success rate. Two years later in 2013, she became the Joint Managing Director of Welspun.
Last year the annual revenue of Welspun India was nearly Rs. 5500 crores. An examination of the records will clearly show that the company made real earnings only after she overtook. Currently, the turnover of the entire Welspun India is Rs. 4500 crores. Dipali strongly believes WelHome and Spaces brands alone can reach a Rs 3500 crores market value by the next year.
The distinguishing thing about her achievement is that she was able to advance the company to new heights at a time when the textile industry was on a decline. The textile exporters all over India were struggling due to cheaper competition from Bangladesh and Vietnam.
The early stumbling blocks
The questions on her female ability were not the only challenges Dipali had to face. One of the biggest drops was when in 2016, Target Corp, Welspun India’s biggest competitors and the second largest value retailer in the US, had informed their customers that the products of Welspun India were substandard.
These rumors led their market capital to drop steeply by 54%. From Rs. 104.34 billion they landed on Rs. 46.97 billion in just 11 days- between August 19, 2016, and August 30, 2016.
Even the setback of the company could not set Dipali back. She took all responsibility and tried her best to get back the trust of all her prime customers such as Walmart and Costco in the US to Sainsbury in Europe. Even after all her efforts, the company’s gross sales dropped by 9% in 2017-18.
A Strong Battle
Through her strong will and truthfulness, she has now brought the company back on track. In 2017, Welspun India was ranked as the top home textile supplier in the US. The company has a strong network that is distributed over 32 countries including the US, Europe, UK, Canada, and Australia.
— Harsh Goenka (@hvgoenka) February 18, 2020
The company recently rejoiced when a 55% growth was registered in its net profit. The 50-year old Joint Managing Director and CEO of Welspun India were seen dancing to the tunes of the Muqabla song from the movie Street Dancer 3D with her employees at the office place itself. The video has gone viral on the internet and has appropriately redefined the meaning of a happy workplace.