I would like to share about an Indian business man, Vijay Mallya, who is now the president of UB group in India. His father, who was the former president of UB group died in 1983, leaving him in control of an empire with annual revenues of $100 million. Vijay Mallya was only at his early 20’s at the time and then entire company started to worry and board of directors thought the company will break down in no time because of his lavsih lifestyle. Vijay Mallya spent most of time spending tremendous amount of money attending parties and traveling with models. When Vijay became the Chairman of UB group, he sold out many of UB group’s businesses. Out of 22 businesses he inherited-ranging from a brewery to a drugmaker to a battery manufacturer he only kept those that were very profitable. Then he established Kingfisher Airlines which became a great success. Today, revenues for the UB Group run to $1.2 billionVijay’s net worth is estimated at $1.5 billion-a figure he doesn’t quibble with. He has a collection of 42 homes scattered across the world, 250 vintage cars, a customized Boeing 727 and two other corporate jets, and three yachts including the Kalizma, a 165-footer once owned by actor Richard Burton. Now, he’s aiming to go global. Vijay Mallya hopes to begin Kingfisher flights to the U.S. and Britain by the end of the year. Vijay Mallya’s story supports what professor told us in class about how Korean companies keep investing in all fields of businesses. Selling off non-profitable business and investing more on a profitable business is a good business strategy.
3rd Blog by 20200652
1 comment:
nice post! thanks for sharing the story of successful businessman Vijay Mallya! I enjoyed reading it! Actually, I really like to read success stories of entrepreneurs like Yuri Mintskovsky or Steve Jobs! I find them very inspiring and motivational!
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