Meet father-son duo who lost all money in an infamous scam, sold bags on streets of Mumbai; now own Rs 250 crore company

Some people have so much burden on their shoulders that it becomes difficult to survive, forget being successful. But this man along with his father succeeded by battling all adversities and shouldered the family responsibility, by building one of India’s largest bags company.

We are talking about father-son duo, Tushar Jain and his father, Moolchand Jain, founders of High Spirit Commercial Ventures Pvt Ltd, who now head a Rs 250-crore bags company.

Tushar and his father, who was a businessman from Jharkhand, were among the numerous people who all lost money in the famous 1992 Harshad Mehta scam. Thereafter, their financial situation was badly affected. They then began selling bags on the streets of Mumbai to sustain the family. 

With unwavering determination and perseverance, they later successfully launched a business called High Spirit Commercial Ventures in 1999. They then expanded it to 300 shops and relocated to Mumbai in 2002 to expand further. They also forged relationships with numerous major clients in 2006 and supplied personalized bags. They developed a mass presence in the Indian market by 2007 by opening factories and producing between three to four thousand bags daily. Tushar, who is now MD of the company, then introduced Traworld and Hashtag in 2017. They also collaborated with Sonam Kapoor Ahuja, and named her as brand ambassador for Traworld.

The business is today soaring high has 10 regional offices across India, and its headquarters are in Mumbai. Their company has become the fourth-largest seller of bags and backpacks in India. Their future plan is to reach revenue of 1000 crore during the next four to five years. For this, they are also establishing a flagship facility in Patna, Bihar, where they expect to make 25 lakh bags annually.

Thus, Tushar and his father’s zest for following their goals amid the ocean of adversities, has yielded success and is a living example for youths from humble backgrounds who want to make big.