As the head of an IT department at a global firm, my days were filled with codes and algorithms. Yet, the allure of my hometown, Kanpur, and the aromatic legacy of spices it held, beckoned me. In 2020, I traded my digital quest for a flavorful venture, founding North Gold Spices. The lucrative spice market, buoyed by India’s rich culinary heritage, and a 25% rebate from the Pradhan Mantri Mudra Yojna scheme provided a financially promising landscape amidst the pandemic’s uncertainties.
North Gold Spices set sail with a wholesale and bulk sales model, initially dealing in spices like cinnamon, cassia, cardamom, ginger, turmeric, pepper, nutmeg, star anise, and clove. These spices were chosen due to their staple status in Indian kitchens and the existing demand. The essence of purity, which is our USP, became the core of our outreach to customers. We aimed to offer these spices in their most authentic, unadulterated form. This emphasis wasn’t just a business tactic; it has been our promise to every customer. However, other challenges from traders and wholesalers necessitated a pivot.I also embraced Flipkart’s B2B platform, opening new avenues of growth opportunity.
It was in June 2022 that I made one of the most significant decisions for North Gold Spices. I joined the Walmart Vriddhi program; it was my guiding light. The insights I gained through the program were invaluable. Be it the intricate nuances of inventory management, sharpening branding initiatives, honing marketing tactics, or devising impactful sales strategies, the Walmart Vriddhi program had a wealth of knowledge to offer.
The outcome? A transformative growth trajectory for North Gold Spices. Our association with Walmart Vriddhi program propelled us onto the national stage, helping us reach households across India.
From an initial 800 kgs of daily sales in our spices, we saw a phenomenal rise to 2500 kgs. Our growth didn’t plateau there. A pivotal collaboration with a notable firm in Gujarat bolstered our daily sales even further, taking the figure to an impressive 3500 kgs per day.
The exhilarating journey of North Gold Spices has been filled with its share of highs and profound learnings. The journey towards profitability was notably high with each milestone having its tale of determination, dedication, and the transformative impact of right partnerships.
However, I’ve always believed that success isn’t about resting on our past laurels but setting our sights on new horizons. With this belief, North Gold Spices is continuously expanding its footprint, ensuring a diverse product range that goes beyond traditional ground spice powders. And our B2B collaborations in Kanpur are growing as we partner with esteemed hotels and catering services.