Samir Modi: Difference between revisions

Modi began his business career in 1992 as a management trainee for [[Philip Morris USA|Philip Morris]] in the US where he promoted [[Marlboro (cigarette)|Marlboro]] brand cigarettes.<ref>{{cite web|title=Godfrey Phillips India Ltd|url=http://investing.businessweek.com/research/stocks/people/person.asp?personId=26120444&ticker=874649|publisher=Bloomberg Businessweek|accessdate=25 February 2014}}</ref> After various stints in the Modi Group's businesses, he launched a network-marketing arm, Modicare, in 1996. The venture began with 12 products and 300 distributors.<ref>{{cite web|title=An interview with Samir Modi, Managing Director, MODICARE.|url=http://www.thehindujobs.com/thehindu/jobs/0107/05110014.htm|publisher=The Hindu Opportunities|accessdate=25 February 2014|url-status=dead|archiveurl=https://web.archive.org/web/20070101061747/http://thehindujobs.com/thehindu/jobs/0107/05110014.htm|archivedate=1 January 2007|df=dmy-all}}</ref><ref>{{cite news|last=Prasad|first=Swati|title=Business Inc interview: Samir Modi|url=http://expressindia.indianexpress.com/news/ie/daily/19990125/02550505.html|accessdate=25 February 2014|newspaper=The Indian Express|date=25 January 1999}}</ref> In 2003, he took over the cosmetics business in Modicare, launching Colorbar Cosmetics for the domestic Indian market in 2004.<ref>{{cite news|title=Passion over profit|url=http://www.telegraphindia.com/1090119/jsp/entertainment/story_10407321.jsp|archive-url=https://archive.today/20130203172937/http://www.telegraphindia.com/1090119/jsp/entertainment/story_10407321.jsp|url-status=dead|archive-date=3 February 2013|accessdate=25 February 2014|newspaper=The Telegraph|date=19 January 2009}}</ref> Over the years, Modi carved out a niche for ''Colorbar'' by repositioning the brand as a more exclusive yet affordable product.<ref>{{cite news|last=Thomas|first=Prince Mathews|title=The Rise of ColorBar|url=http://forbesindia.com/article/boardroom/the-rise-of-colorbar/36895/1|accessdate=25 February 2014|newspaper=Forbes India|date=15 January 2014}}</ref><ref>{{cite web|last=Borpuzari|first=Pranbihanga|title=Raising the Color Bar|url=http://entrepreneurindia.in/start-ups/raising-the-color-bar/4766/|publisher=Entrepreneur|accessdate=25 February 2014|url-status=dead|archiveurl=https://web.archive.org/web/20140301054438/http://entrepreneurindia.in/start-ups/raising-the-color-bar/4766/|archivedate=1 March 2014|df=dmy-all}}</ref> In 2005, Modi launched Twenty Four Seven, India's first 24-hour retail store chain.<ref>{{cite web|title=Opportunity lies in being available 24/7|url=http://www.entrepreneurindia.com/article/starting-a-business/business-opportunity/Opportunity-lies-in-being-available-24-7-285/|publisher=Entrepreneur India|accessdate=25 February 2014}}</ref> Modi marketed the retail chain as a one-stop shop for daily and general necessities.<ref>{{cite news|title=Modis unveil 24x7 store|url=http://www.business-standard.com/article/beyond-business/modis-unveil-24x7-store-105060301015_1.html|accessdate=25 February 2014|newspaper=Business Standard|date=3 June 2005}}</ref>