By: Saurabh Gadgil
Last updated : October 16, 2017 11:44 am
There are a total of 24 PNG stores across the globe. 21 of those are in India with 6 stores in Pune. They have 4 stores in Mumbai.
The ancestors of the Gadgils sold “panchas”, the soft and thin towels that were very popular then. About 175 years ago the family came to Sangli, and Ganesh Gadgil started working as an apprentice with a moneylender. He soon started his own business of money lending and jewellery by opening a shop, “Ganesh Narayan Gadgil Saraf and Jewellers”. Ganeshpant Gadgil established himself into the jewellery business in Sangli and built a big house, then known as “wadaa”, on the main road. He had three sons – Ramchandrapant, Baalnana, and Gopalrao.
The jewellery business was later named as ‘P N Gadgil and sons’ as they believed business associated with the name Purshottam Narayan Gadgil would prove to be very successful. For the Gadgils, almost 75 percent of their business was focused on gold; only a quarter portion of the business dealt in loans.
There are a total of 24 PNG stores across the globe. 21 of those are in India with 6 stores in Pune. They have 4 stores in Mumbai. Also, they are spread across various other areas including Nagpur, Aurangabad, Akluj, Ahmednagar, Indore, Goa, Panvel, Nanded, Chandrapur, Baramati. USA & Dubai also have their stores.
As advise to young entrepreneurs, Saurabh Gadgil, Chairman and MD, PN Gadgil says, “Stay focused and dedicated towards your goals. Success and failure both are part and parcel of life, do not get disheartened and lose focus.”