THE REASONS AREN’T far to seek. The credit for this must largely go to Rafiq Ahmed, a little known and an unassuming entrepreneur who was once a steel trader. “I would have walked through this road (Nungambakkam High Road) several times in the past. But I never thought that I would one day end up occupying the Kothari Building,” quips Ahmed. Well, none in fact had ever anticipated that normality would return to Kothari Building. Today, KICL is brimming with activity and KICL is a topic of discussion in the industrial corridors of Chennai.
REVIVAL STRATEGY
Ahmed was just a bridge-funder to help Pradip Kothari, former owner of the company, get out of his financial imbroglio. Soon enough, he was roped in to guide KICL to safety. Thus began the revival story of KICL, an iconic industrial enterprise. First, he made it a debt-free company. Second, he got it relisted on the bourses. Thirdly, he assumed charge as Chairman of the company. For the first time, the Kothari board will have no member of the Kothari family on it.
FORAY INTO NON-LEATHER FOOTWEAR
Indeed, Rafiq Ahmed has gone on to chart out a long-term strategy to put KICL on a growth orbit and bring yester-year glory back. There is a method to his approach. Three things to form the core. One, he is committed to create jobs. Two, he is keen to empower rural women. Three, he is determined to improve the ecosystem in backward areas. His foray into non-leather footwear is the culmination of this combined strategy. Over three-fourths of leather business in the world comprise non-leather. Also, it is a job generating industry. Read in tandem with all these, the decision of KICL to set up a joint venture non-leather park, encompassing a component cluster in the backward district of Perambalur in Tamil Nadu makes for a good business strategy. The maiden factory of JR One, at the park has already gone commercial with Crocs brand. Phoenix Kothari Footwear Ltd., a joint venture between KICL and Evervan Group of Taiwan, is also setting up a footwear manufacturing plant in Karur.
In the context of the emerging geo-political situation and also in the wake of China plus one strategy, Rafiq Ahmed is betting big on his composite game plan. It largely fits into the policies of governments – both at the centre and the state. That he walks the talk is apparent from the way he strictly adheres to the deadlines he has set for himself in implementing the project.
BUILDING TRUST AND INTERNATIONAL ALLIANCES
A Qatar company belonging to the Royal family picked up around 10 per cent stake in KICL and this reflects the trust that he has managed to build around KICL. Be its foray into drones or bid to solidify presence in fertiliser with a greenfield project proposal in the southern district of Tamil Nadu and move to enter waste management field with a foreign collaboration, KICL under Rafiq Ahmed is sending out a positive signal. Today, KICL is put on a fast-lane. Rafiq Ahmed is a man in a hurry. India is a land of opportunity at the moment. “You cant miss the bus. Time is running out,” he puts it matter-of-factly. Well, reviving an iconic brand is one thing. Re-building an institution is quite another. Both are tough. Rafiq Ahmed has gone on a mission mode to resurrect the brand as well the company.
