Akshata Sharma
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From one of the world's largest slums, armed with just Rs 5000, M I Siddiqui built his business through sheer determination.
MI Siddiqui's journey from Muzaffarnagar, Bihar to Mumbai began as a 15-day trip that transformed into a permanent stay.
Starting with borrowed money and minimal resources in Dharavi, Siddiqui and his friend Azad launched a small bag manufacturing unit named Flora Gift. Flora Gift with an initial investment of Rs 30,000, procuring three sewing machines and raw materials.
His friend decided to turn down the opportunity to start his own separate venture. Leaving Siddiqui with a debt of Rs 28,000, he persisted. Promising repayment and negotiating extended rent, Siddiqui scraped together Rs 5,000 more to establish Cosmus.
That's when he borrowed Rs 5000 from his friend to buy raw materials to continue the production.His determination paid off when he secured his first contract with Orange, undercutting competitors by Rs 40 per bag.
Rise of Cosmus: Beating the Odds
He established Cosmus, offering high-quality bags at prices significantly lower than competitors. He leveraged his marketing skills to secure contracts with major corporations and expanded into retail and online markets, focusing on customer satisfaction and product quality.
Expansion and Success
From a modest setup in Dharavi, Cosmus.in now operates from a five-floor factory, producing a range of bags including duffels, school bags, and laptop bags.
The company's commitment to quality and affordability has garnered acclaim, with products earning high customer ratings and significant market share.
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