These Third Generation Entrepreneurs are Spinning Success Across Diverse Domains
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Arjun Ranga and Kiran Ranga, the third generation entrepreneurs at the NR Group, a company that had started their journey right after India’s independence, from a simple agarbatti manufacturing company took the art of perfumery to the home care and fine fragrances domain. The company also forayed into electronics and aerospace. But the third generation continues to believe that their organization is built on a foundation of being socially conscious.
“We realized that there are a lot of drivers that can create markets for fragrances in different domains. We decided to build on our existing competencies and take the concept of fragrances to feel-good products. This includes room and care fresheners and aroma creating products,” Kiran Ranga said. Brands like Ripple Fragrances and Iris – NR Group has built markets for itself in the new consumer markets.
While fragrances are their core business, the brand has seeped into other sectors like global aerospace amenities. Rangsons Electronics – which manufactured electronic circuits – was sold and two businesses emerged within the group post the sale. Rangsons Defence Solutions was established in 2011 which is a product design house focusing on aerospace and defence sectors. The company realized that through initiatives like ‘Make in India’, the government has opened a plethora of opportunities to innovate in the defence sector. The brand, with its experience in electronics manufacturing for 15 years lapped this opportunity with an ambition to diversify further in this domain.
The six scions have also worked towards making it a carbon-neutral company and promoted digital marketing initiatives across all their brands by bringing in Bollywood superstar, Amitabh Bachchan as the brand ambassador, app development, e-books and improvising advertisements. The third generation actively works with NGOs, which in turn works with women in self-help groups in remote villages. The company today is looking at these regions to set up shops and manufacture agarbattis – with an ambition to foster entrepreneurship and employment.
NR Group started out by launching Cycle Pure Agarbatties, India’s leading brand of incense sticks, in 1948 and from there on went on to diversify into domains of aerospace and invested in sports leagues. The brand’s journey began in 1948 as ‘Mysore Products and General Trading Company’ with a belief structured around ‘Quality, backed with services will pay’ and later led to the formation of the flagship brand and the largest incense stick manufacturing company in India – Cycle Pure Agarbathies.