Pradip Singh Puri Pioneering a Furniture Renaissance after Pharma Setback

The global recession of 2008 had a profound impact on various industries, including pharmaceuticals. In the midst of economic turmoil, many entrepreneurs in the pharmaceutical sector faced unprecedented challenges. Pradip Singh Puri, the founder of Avian Remedies Ltd, a 25-year-old pharmaceutical company, was among those who encountered difficult times. However, his story is one of resilience, adaptability, and successful reinvention.

For Pradip and his family, adversity struck in the form of a double blow. They were involved in both the pharmaceutical and poultry businesses when the bird flu outbreak coincided with the economic recession. This unfortunate convergence severely affected their ventures, especially the pharmaceutical one.

A Glimpse of Opportunity:

As the recession eventually waned, Pradip began to notice a growing demand in an unexpected industry—the furniture market. Taking a leap of faith, he decided to explore this new avenue, leading to the creation of a luxury furniture brand. In 2013, Pradip founded Avian Lifestyle under Avian Remedies Group Pvt Ltd, based in Gurugram. Starting with a modest capital of Rs 1.5 crore, the family embarked on a journey of entrepreneurship in an entirely different sector.

Market Research and Niche Targeting:

One of the key factors contributing to Avian’s success was Pradip’s in-depth market research. He identified a gap in the market—high-quality furniture that didn’t come with a premium price tag. The existing offerings either targeted a niche, high-end segment or offered budget options. Avian aimed to cater to the discerning upper-middle-class demographic, filling this market void.

To kick-start the furniture venture in 2011, Pradip began by importing furniture from Vietnam, a major hub for furniture production. He collaborated with a German company called Brema and started wholesaling furniture under Avian Remedies Group. Initially, Avian operated on razor-thin margins, offering its products with only a five-percent mark-up compared to market rates.

Retail Expansion:

As Avian’s business gained traction, the company expanded its footprint. In 2013, Pradip opened an 11,000-square-foot store in Gurugram. The decision to operate a physical store was driven by the fact that furniture buyers often prefer a hands-on experience before making a purchase. Avian continued to import furniture, not only from Vietnam but also from Turkey, where it secured 56 exclusive dealerships. In 2015, Avian decided to diversify by entering furniture manufacturing, responding to the growing demand for customization. Pradip recognized the limitations of customizing imported furniture due to strict industry standards for imports. To meet customer demands, the company started manufacturing furniture through third-party manufacturers in Gurugram.

Customer-Centric Approach:

Avian’s commitment to customer satisfaction extends beyond product offerings. The brand provides cost-free consultations, membership discounts, and friends-and-family discounts, setting it apart in the competitive furniture market. Avian faces competition from established players like Stanley and Furniturewalla, among others. Avian’s journey has been a roller-coaster ride, marked by both external and internal challenges. The sudden demonetization of high currency notes and the implementation of the Goods and Services Tax (GST) at a higher rate were significant hurdles. Avian had to close a 25,000-square-foot store in Sultanpur due to high operating costs but continued operations at its Gurugram store.

Despite the challenges, Avian has grown its business, recording an annual turnover of Rs 15 crore. The company wholesales its products to 50 brands across India. Looking forward, Avian aims to build a strong franchise model, with plans to open ten franchises in the next five years. Additionally, the brand is exploring online sales through its own website.

Pradip Singh Puri’s journey from pharmaceuticals to furniture is a testament to entrepreneurship’s resilience and adaptability. Avian’s ability to identify market gaps and provide quality products at affordable prices has enabled it to thrive in a competitive industry. As the brand continues to expand, its commitment to inspired design and customer satisfaction remains unwavering.