India Inc's 10 Most Successful Turnaround Tales

2. Bhavarlal H. Jain
Founder of Jain Irrigation Systems

The initial judgments made by the company board had put Jain Irrigation Systems into deep financial trouble around late 90s. Bhavarlal H. Jain however shoved off all the market allegations and restarted and ventured into non-core areas. Soon the company was doing well and got rid off all its debts.

Today, Jain Irrigation Systems is a multinational organization based in Jalgaon, India with over 7,500 employees.

3. Govind Shrikhande
MD, Shoppers Stop

The drop down in the consumer sentiment resulted in hitting Shoppers Stop high in 2008. The company’s like-for-like sales growth turned pessimistic and continued till 2010.

“It was a great time for learning. Our board challenged us to create a recession proof model that could face slowdowns. One of our chief learnings from the slowdown was to never compromise on customer experience. Customers should continue to get your best service and merchandise. Only then will they continue to shop with you”, said Govind Shrikhande.

Among the boosting strategies, Govind opted to shut unprofitable formats. Focused on right-sized stores, controlled costs and most importantly repositioned the brand completely.

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