Many people often order unique and beautiful gift items from metro cities or abroad. People order these things from online shopping websites or from their friends-relatives. Now it is obligatory to order things from outside, because they are not available in India or are available with great difficulty.
Just to solve this problem and fulfill the need, a magnet (Chumbak) came. Yes, this magnet is a leading brand of multiple items, apparel, collectibles and gift items. Gift is a very important word in life and this gift is usually a thing, people get very happy after receiving it.
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Shubha spoke to Vivek
It is a booming business in India. The credit for starting this business called Chumbak goes to Shubha Chadda. She and her husband have made this magnet a famous brand. Shubha and her husband Vivek (Shubha Chadda and Vivek Prabhakar) were leading a decent life in their corporate company job.
Then Shubha Chadda got the idea that some such business should be done. So she discussed this issue with her husband. Husband Vivek immediately agreed. After a few days of research and investigation, both of them made up their mind to start this business.
The idea came after seeing the beautiful magnets on the fridge
Chumbak founder Shubha told a newspaper that one day my husband and I were looking at the beautiful magnets on our fridge, which I had bought and collected after traveling to many countries. Immediately I got the idea that there is no memento or gift to be the hallmark of India and that we can proudly give it to our friends and relatives.
The husband and wife quit their corporate jobs and sold their house for Rs 45 lakh. With the money he received, he started his startup Chumbak. Recommend this magnet name Shubhra which is so fun and scissor to grab logo’s attention.
Magnet company was launched in the year 2010
Shubha and Vivek had no knowledge or experience about this business. In such a situation, he did research for a year on the product range, design and production. After gathering all the information, he launched Magnet company in 2010. This business did not find any challenge or competition on its way, because it was a unique business idea.
Mark the weekend with some vibrancy. Check out Chumbak's line of bags pic.twitter.com/PcNxrxyG6r
— Chumbak (@Chumbak) November 3, 2018
Shubha told the newspaper that she had some other kind of challenges before her. They had to make their product reach the people. It took some time for Chumbak to increase his staff, but today he has 70-75 professional workers working for him. Shubha says that success does not come in a day. It takes time to get it.
#IIMBCreativeDisruptions with Vivek (Chumbak's Cofounder and CEO) pic.twitter.com/3XjGGpPeuj
— Vishal V. Patil (@vvptalk) August 25, 2015
As of now, the company has 50 stores in many cities including Bangalore, Chennai, Chandigarh, Delhi-NCR, Mumbai, Hyderabad, Pune, Kochi and Jaipur. The company had registered a turnover of Rs 40 crore in 2017-18. In which home decor items accounted for about 40 percent and accessories and fashion items accounted for 60 percent.
Chumbak's CEO Shubhra Chaddha started her career as a staff-accountant in KPMG. She sold her home in Bangalore to start the venture. Inspiring indeed! #Dreambig #startsmall and make the life you desire. Look for your #firstjob on https://t.co/Z6ikLiuhJp. #MondayMotivation pic.twitter.com/X7OQdmhh5Z
— Firstnaukri.com (Official) (@Firstnaukri) January 15, 2019
Today Shubha Chaddha and her husband Vivek’s thought and hard work have paid off and Chumbak has become a brand. They have come up with a complete list of their products both online and offline. They are exporting their products to Dubai, USA and UK. The company is a big name in Bangalore. They want to spread it completely in India.
