Leather is a widely traded item in the world today. Leather industry holds a prominent place in Indian economy for its consistency in high export earnings. The country accounts for 14 per cent of the world’s total leather production, comprising footwear, leather garments, saddler, as also leather goods and accessories. The total export from India in 2022-23 was about $5.30 billion, of which leather goods and accessories constituted about 20 per cent. This labour-intensive sector is providing jobs to about 5 million people. Employment to women is predominant in the leather products sector (amounting to about 40 per cent). Kolkata city alone contributes close to 60 per cent of the leather goods and accessories exports from India. The city is known in the industry for its high level of skill precession. So, one shouldn’t be surprised to see fashion stores like Prada, Gucci, Clarks, M&S, Coach and Debenhams exhibiting handcrafted leather products marked ‘made in Kolkata’. Yashovardhan Gupta had moved to Kolkata in 2012 to set up Torero Corporation Pvt Ltd as a niche player, thereby changing the game in the segment. He had a knack for identifying opportunities in the leather industry and realised that quality and the brand are the key factors to earn reputation. Under him, Torero started nurturing inherent local talents. It did face many ups and downs of business cycles, but careful strategies, backed by quality, resulted in success. Today, Torero is not merely a fabricator; it has also become an international licence holder for designing, manufacturing and distribution of leather accessories for powerful global brands, such as Cross and Police. Torero caters to renowned private label/OEM customers globally and in India, while also distributing its portfolio of branded leather goods, travel goods and gifts items across retail, e-commerce and trade. “The driver of our success has been innovative business strategies and the courage to take risks,” explains Gupta. The company’s revenue has grown from merely a few lakhs of rupees to Rs138 crore at present. It is now planning to set up a luggage manufacturing facility in Bengal. Great learning experience Gupta was born in a business family in Kolkata. His father Rajesh Gupta owned a leather goods manufacturing company called Metropoli Fashions, which was set up in 1988. After securing an MBA from ISB Hyderabad in 2007, Yashovardhan worked in JSPL for two years as executive officer to CMD Naveen Jindal. He gained exposure in corporate strategies and travelled across mines, plants in steel and energy development projects. He was also involved in several M&As and was a witness to the company’s sharp rise, with its share price soaring from Rs1,300 to Rs23,000. “It was a great learning experience for me, which helped me in my future endeavours,” explains Yashovardhan. However, the family pressures forced him to join his father’s Metropoli Fashions in 2009. While learning the nitty-gritties of leather business from his father, he realised that low margins and exchange fluctuations make business environments knotty; so, nothing big can happen without a brand. Soon, he was exploring better opportunities to add value in the business and worked persistently towards his aim. In 2012, he came to know from industry sources that an old Spanish family-owned leather accessories brand Torero (means bull fighter) was up for sale in Spain. He convinced his father and acquired the company after hard negotiation and began his journey as an entrepreneur by creating a new company – Torero Corporation Private Limited – in December 2012.
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Yashovardhan: innovation and careful strategy have resulted in success; Photos: Sajal Bose
