Saurabh Gadgil transformed the 192-year-old family business, PN Gadgil Jewellers, into a billion-dollar company, with Salman Khan and Madhuri Dixit as brand ambassadors.
Taking a family business to new heights is a significant challenge, yet Saurabh Gadgil's journey with PN Gadgil Jewellers is nothing short of inspiring. This 192-year-old legacy has evolved into a billion-dollar enterprise, largely due to Saurabh's unwavering commitment. He not only expanded the company but also successfully transitioned it from a private limited entity to a publicly traded one.
History of PN Gadgil Jewellers
PN Gadgil Jewellers was established in 1832 by Ganesh Narayan Gadgil in Sangli, Maharashtra, where he initially sold gold ornaments from a footpath stall. His dedication and integrity laid a strong foundation for the business, which was passed down through generations. In 1958, his great-grandson, Anant Gadgil, relocated the company from Sangli to Pune, signifying a pivotal moment in the history of PN Gadgil Jewellers.
Company Listed on the Stock Market in 2023
At 47 years old, Saurabh Gadgil is an MBA graduate from Symbiosis University in Pune and a state-level chess player who lives by the motto, "Play every move as if it's your last, but make it your best." He set out to elevate the family business to new heights. In 2012, he transformed the company into a private limited entity, and by 2023, he took it public by listing it on the stock market. This achievement boosted his net worth to $1.1 billion (approximately ₹9,130 crore), earning him billionaire status.
'Pay-Later' Scheme Popular Among Customers
To strengthen the brand's appeal, Saurabh introduced a range of new sub-brands designed to cater to diverse customer segments. He also established an online shopping platform for enhanced convenience. His innovative 'Pay-Later' scheme quickly became a hit with customers. To amplify the visibility of PN Gadgil Jewellers, Saurabh brought on board Bollywood celebrities such as Salman Khan, Madhuri Dixit, and Raveena Tandon as brand ambassadors for the company’s 48 branches across Maharashtra.
Also read: Kerala entrepreneur achieves success with cashew sprouts after job loss
Read Exclusive COVID-19 Coronavirus News updates, at MyNation.