Ever thought about the super-rich people you don't always hear about? Maybe not, but there is a super-rich person in Uttar Pradesh as well whose company's product ads once etched the TV with the jingle 'Pehle istemal kare, phir vishwas kare' (First try it, then believe it).
While we know big names like Mukesh Ambani, Gautam Adani, Ratan Tata, and so on in India, there is also a different success story happening in this state. So, who's the richest person there, quietly making a lot of money away from the usual talk? Let's delve into the famous but not-so-famous among the richest names known to common people, Murlidhar Gyanchandani, the wealthiest person of Uttar Pradesh, and explore his brand story.
Who is Murlidhar Gyanchandani?
Murlidhar Gyanchandani, the owner of RSPL Group, and his brother Bimal Kumar Gyanchandani have transformed their family business into a major player in the FMCG market.
Headquartered in Kanpur, Uttar Pradesh, RSPL Group has expanded into a consumer products empire with Ghadi detergent, their popular product known for its affordability, especially for the middle and lower-middle-class folks, as their flagship product.
Under Murlidhar's leadership, RSPL Group became one of the fastest-growing brands in the FMCG industry. Ghadi detergent, known for its affordability, has also earned the title of India's second-largest detergent brand.
Starting from making soaps, the Gyanchandani brothers have expanded their business into new areas like dairy and shoe manufacturing. Beyond detergent, RSPL Group has diversified into dairy, managed by Murlidhar's elder son Manoj Gyanchandani, and shoe manufacturing through Leayan Global Private Limited.
Net Worth
Murlidhar Gyanchandani is the richest person in Uttar Pradesh, with a whopping net worth of Rs 12,000 crore, securing the 149th spot among India's richest person, according to reports.
With his brother Bimal Kumar Gyanchandani, their product Ghadi detergent has become India's second-largest, grabbing 20 per cent of the market share and generates substantial profits for the group, as per reports.
Furthermore, the Gyanchandani family also got into other businesses like dairy and shoe manufacturing, with popular brands like Red Chief shoes, contributing to their wealth accumulation.
The Founding Story of Ghadi Detergent
Back in 1987, in Kanpur, Murlidhar and Bimal Kumar Gyanchandani introduced Ghadi Detergent in a market dominated by big brands like Nirma and Surf. Despite the tough competition, they started Ghadi detergent, capturing the attention of the middle and lower-middle-class folk, a significant part of India's population, by creating an affordable and effective detergent.
What made Ghadi stand out was its unique white color when most detergents were yellow or blue. Furthermore, Ghadi Detergent expanded from Uttar Pradesh after a hitting a Rs 100 crore sale to other significant states like Madhya Pradesh, Delhi, Punjab, and Haryana. It also did not raise its prices and gave dealers a 9 per cent profit, while others only offered 6 per cent, and in 2002, Ghadi reached sales of 500 crore. In 2012, Ghadi achieved sales exceeding Rs 2,200 crore, securing a 17 per cent share of the market.
Their famous tagline, "Pehle istemaal karein phir vishwas karein" (First try it, then believe it), was an eye-catcher among consumers, making Ghadi widely popular.
By 2012, Ghadi had become a leader in synthetic detergents, surpassing even Wheel from HUL. They used smart marketing, such as painting ads inside trains, to reach a large audience directly. Led by second-generation entrepreneurs Rahul and Rohit Gyanchandani, Ghadi detergent achieved an impressive turnover of Rs 4,900 crore in 2015.
