Meet man who borrowed Rs 10000 to start business, now competing with Mukesh Ambani, Ratan Tata, his business is...
Mufti now has 379 exclusive brand stores, 89 large format stores and 1305 multi-brand outlets and its products include shirts, jeans, trousers, t-shirts, shorts, blazers and winterwear/outerwear.
Mufti is a well-known fashion brand in India today and the brand has carved a place for itself in the mid premium and premium men's wear market. In financial year 2022-23, the revenue of the company was around Rs 500 crore. But, you will be surprised to know that Mufti’s founder has started the company by borrowing Rs 10,000 crore from one of her relatives. Mufti founder Kamal Khushlani was born in an ordinary family. His father died when he was 19 years old. Kamal Khushlani worked in a cassette company in order to help his family. But he always wanted to create his fashion brand and finally managed to fulfill his dream due to his hard work and dedication.
Mufti now has 379 exclusive brand stores, 89 large format stores and 1305 multi-brand outlets across the country. Mufti's products include shirts, jeans, trousers, t-shirts, shorts, blazers and winterwear/outerwear as well as footwear. The company’s revenue of Rs 498.18 crore in the financial year 2022-23. The revenue in the previous financial year was Rs 341.17 crore.
In 1992, Kamal Khushlani opened a manufacturing company named Mr & Mr for men's shirts. He borrowed Rs 10,000 from his aunt to set up this company. He used to get shirts made in the workshop. Since Kamal did not have the money to pay the office rent, he turned his house into office as well as warehouse.
In 1998, Kamal Khushlani started a fashionwear brand called Mufti. Initially, Kamal He had a bike on which he would load several kilos of cloth and take it to the workshop. When the clothes were made, he used to load them on the same bike and go out to sell. Kamal used to sell clothes in a suitcase on his bike. Mufti became popular after 2000 when people started buying Mufti jeans. Mufti was the first brand in India which had started to make stretched jeans.
Mufti is now competing with several brands and business houses including Mukesh Ambani’s Reliance Retail and Ratan Tata’s Westside, which is also in the business of selling clothes and footwear, besides other things.