When reflecting on a changing point in his career, Yogesh Chaudhary, director of Jaipur Rugs, featured in Fortune India’s 2024 edition of the 40Under40 list, recalled the challenges faced during the 2008-2009 crisis. The business encountered a significant slowdown, leading to financial constraints in paying weavers and vendors. This situation compelled them to explore all avenues to rescue the company.
On the most difficult problem he faced, he says, "In 2016, we started with our first retail store in Delhi, retail is not easy, in the first year we had losses. My whole family asked me to shut it down, but I believed in it. I started to work very hard to see how I could make it successful, how we could brand the business, how we could tell a story, and very quickly, things changed for the better."
When questioned about the moment he believed he had reached a significant milestone, he shared, "It was when we opened our store in Milan. Standing outside that store was one of the most precious moments in my life."
Advice to his younger-self
He advised his younger self to enjoy life alongside the hard work he does, mentioning that he has been a workaholic throughout his life.
His idol entrepreneur
He shared that his father has always been his idol, but he has also gained a wealth of knowledge from Steve Jobs.
Lastly, he mentioned that exploring mountain trails or enjoying a leisurely walk while listening to music soothes him.