On October 22, Parag Desai, the chief director of Wagh Bakri Tea Group, handed away in Ahmedabad on the age of 49. Tragically, his premature demise resulted from an accident that occurred throughout his morning stroll on October 15, resulting in a mind hemorrhage. After a number of days on a ventilator and fighting a number of problems, he finally succumbed to his accidents.
Simply two months prior, I had the chance to satisfy Mr. Desai whereas engaged on Forbes India’s household enterprise subject that centered on scions hailing from Gujarat. Throughout our dialog, he shared his private plans for diversification into new areas of curiosity, with training being a current fascination. He said, “I personally have a whole lot of plans. I see a whole lot of potential in infrastructure growth, the packaged meals business, and training. So many issues may be accomplished in India now. We’re spoiled with selections. We have now waited lengthy sufficient as Indians.”
Parag Desai joined the household enterprise in 1995 after finishing his grasp’s diploma at New York’s Lengthy Island College. At the moment, the corporate’s income was lower than Rs100 crore. Below his management, the income grew to over Rs2,000 crore by 2023. He performed a pivotal position in increasing the enterprise past Ahmedabad and launched the e-commerce platform buytea.com 20 years in the past. Because the son of Rasesh Desai, he was liable for launching greater than 70 tea lounges and tea worlds throughout India. He additionally had plans to develop Wagh Bakri, the third-largest packaged tea firm in India, notably within the japanese area.
Parag Desai was well-known for his revolutionary concepts and simple method. He inspired his groups to supply essential suggestions and never be “yes-men.” Throughout our dialog, he emphasised the contribution of pros within the clean working of the model.
– Commercial –
As a key member of the Confederation of Indian Business (CII), Desai will likely be remembered for guiding the corporate in direction of quite a few accolades by implementing revolutionary advertising, branding, and packaging methods, and increasing the legacy model to greater than 60 nations. He leaves behind his spouse and daughter and had a ardour for journey, wildlife, and world environmental sustainability tasks.
The day-to-day operations of the 131-year-old enterprise are actually overseen by Paras and Priyam, representing the fourth and fifth generations of the household. Third-generation veterans Rasesh and Piyush have taken a step again and primarily give attention to company social accountability (CSR) initiatives.