Nominated for the third time in a row for the award, the Entrepreneurs Today team reached out to Nitish Mahajan, the co-founder of Balaji Loomtex Pvt. Ltd., which stands at the forefront of a resurgence in micro polyester flannel blankets within India.
Founded alongside Nikhil Mahajan in 2017 in Panipat, their company, Balaji Loomtex Private Ltd., has been instrumental in revitalising the local production of these blankets, championing the “Make in India” initiative.
Their efforts have not only facilitated domestic manufacturing but also curtailed the country’s dependence on Chinese imports in the home textile sector. Nitish Mahajan’s leadership underscores a commitment to quality and innovation, driving transformative change in the Indian market for flannel blankets.
Last year, Balaji Loomtex ventured into the export business, supplying to international buyers like West Point Home, Mr. Price, US Home, Safdi, Hallmark, 5 Below, Lavana, and Akiko. They also serve notable domestic buyers such as Reliance, Home Centre, Monte Carlo, Trident Welspun, Lulu, and Dmart. This expansion has not only broadened their market reach to a pan-India level but also led to an increase in their production capacity, especially of Sherpa fabrics.
About the founders
Nitish and Nikhil Mahajan, co-founders of Balaji Loomtex Pvt. Ltd., have carved a distinguished path in the textile sector through a unique amalgamation of design flair, technical expertise, and astute business acumen. With over seven years at the helm of their parent company, their journey reflects a profound impact on the industry.
Nikhil Mahajan, sharing equal ownership in the enterprise, steers production and critical backend operations, drawing from a background in banking to ensure operational excellence. Meanwhile, Nitish Mahajan transitioned from a banking career to assume full-time directorship at Balaji Loomtex Pvt. Ltd. and its subsidiaries, collectively driving an annual group revenue exceeding $500 Crores. His strategic focus on company expansion is informed by deep industry insights and analytical acuity.
Beyond their professional achievements, Nitish Mahajan exemplifies collaborative leadership, fostering strong team dynamics and interpersonal relations within the organisation. His dedication to innovation and sustainable growth underscores their commitment to shaping the future of India’s textile landscape.
Since 1980
Balaji Loomtex Pvt. Ltd. traces its lineage back to the esteemed Naveno Woolens brand, renowned since 1980 for crafting stylish and high-quality blankets and bedding. Founded as a family-run enterprise deeply rooted in the textile industry, Naveno Woolens laid the foundation for Balaji Loomtex’s emergence as a prominent player in the market.
Under the stewardship of Nitish and Nikhil Mahajan, Balaji Loomtex Pvt. Ltd. has swiftly ascended to prominence within the flannel blanket category. Emphasising in-house production with premium materials and a steadfast commitment to reliability, the company operates under the brands Gulmohar and Urban Wrap. This dedication has not only ensured their rapid rise but also solidified their reputation as a trusted manufacturer in Panipat.
Despite its relatively recent entry into the sector just five years ago, Balaji Loomtex Pvt. Ltd. has distinguished itself through a blend of superior quality and environmental consciousness. They have adopted green fuel technologies in their manufacturing processes, reflecting their commitment to sustainable practices amidst their rapid growth and success.
Initial challenges
Shortly after entering the textile business, Balaji Loomtex Pvt. Ltd. faced a daunting setback when a devastating fire threatened to disrupt their operations. Instead of yielding to adversity, they demonstrated remarkable resolve by swiftly restoring full production within a remarkable three-month period.
This determined spirit not only underscored their commitment to their vision but also solidified their reputation as a company capable of overcoming adversity with resilience.
Looking forward, Balaji Loomtex Pvt. Ltd. aims ambitiously to emerge as a driving force among the top 10 textile companies listed on the stock exchange within the next decade. Their story exemplifies a steadfast commitment to growth, innovation, and unwavering determination in pursuit of their goals.
Takeaways from the journey
In his entrepreneurial journey, Nitish Mahajan has embraced invaluable lessons that have profoundly shaped his approach to business. From his early twenties, he learned the significance of investing in experiences over material possessions, recognising that achieving ambitious goals often demands personal sacrifices.
Nitish emphasises the critical importance of deep industry knowledge, advocating that a thorough understanding of the textile sector is essential for entrepreneurial success. Beyond financial metrics, he defines success in terms of the opportunities he fosters for his team and the broader impact of providing high-quality home textiles globally.
Nitish’s journey exemplifies a holistic perspective on entrepreneurship, where personal growth, industry expertise, and a commitment to creating meaningful opportunities converge to drive sustainable business success.
