In the world of family businesses, the Kacham family stands out as a shining example of resilience, innovation, and growth. With roots tracing back to 1890 when Kacham Nagamouli Gupta founded Takkaiah and Company in Hyderabad, this legacy has evolved from bulk trading in commodities, spices, and dry fruits to a modern empire encompassing various brands like Delicious, Swastik, Srilola, Haradin, and Nufasal. The story of their journey is one of adaptation and ambition, showcasing how the sixth generation is poised to take this legacy to new heights.
The Early Days: Takkaiah and Company
Founded by Kacham Nagamouli Gupta in a time of limited resources, Takkaiah and Company laid the foundation for what would become a thriving family business. The first-generation entrepreneur faced challenges head-on, pivoting from a modest convenience store to a successful commodity trading business, even during tumultuous periods like World War II. As the family grew, so did the business, which expanded its operations, diversifying its offerings and adapting to the market needs.
The Modern Transformation
Fast forward to 2005, when the Kacham family took a significant step forward by launching their B2C brands—Delicious and Swastik. These brands marked a turning point in their business model, introducing nuts, seeds, millets, and dry fruits to a niche urban market. However, the true transformation came in 2019 with the introduction of Srilola, Haradin, and Nufasal, spearheaded by the sixth-generation leader, Naga Srinivas Kacham.
Innovative Business Strategy
Kacham’s innovative approach set these brands apart in a crowded marketplace. While all three brands offer similar products, they are targeted at different consumer segments. Srilola caters to general stores with affordable pricing, making it accessible for the masses, while Haradin positions itself as a premium brand, targeting high-net-worth individuals through sophisticated marketing strategies.
For instance, Haradin’s offering of Lakadong turmeric boasts a significantly higher curcumin content compared to regular turmeric, making it a unique selling proposition. This strategic diversification allows the Kacham family to cater to varying consumer preferences while expanding their market reach.
Strategic Partnerships and Growth
In August, McKinsey released a study outlining five differentiators of outperforming family-owned businesses, resonating with the Kacham family’s vision. While they may not tick every box yet, their focus on core operational distinctiveness, effective generational transition, and diversification positions them as strong contenders in the competitive landscape.
With the introduction of new brands and a keen understanding of market dynamics, Kacham has managed to increase revenue significantly, from ₹5.64 lakh in FY20 to ₹14.43 crore in FY24. This impressive growth is complemented by a robust processing capacity of 150 metric tonnes daily.
The Road Ahead: Challenges and Ambitions
Despite their achievements, the Kacham family faces challenges, especially in marketing and branding amidst rising competition in the commodity business. The landscape has evolved, attracting new players, but the family holds a first-mover advantage and a rich legacy. Professor Ashita Aggarwal from SP Jain Institute of Management and Research emphasizes the importance of maintaining their resilience while increasing their pace in this competitive environment.
Naga Srinivas Kacham has his sights set high, with a bold ambition of reaching a ₹1,000-crore turnover in the coming years. This target may seem ambitious, but for a family that has weathered challenges for six generations, it is a testament to their growth instinct and visionary leadership.
Conclusion
The Kacham family’s journey from Takkaiah and Company to a diversified portfolio of brands showcases the power of resilience, innovation, and strategic growth. As they continue to navigate the evolving landscape of the commodity market, their story serves as an inspiration for aspiring entrepreneurs and family businesses alike. The legacy of the Kacham family is not just about survival; it’s about thriving and dreaming big for the future.
Reference Data- Forbes India(How Rajinder Gupta’s never-say-die attitude fortified Trident)
