Old is gold, they say. For Leicester-based serial entrepreneur Bav Majithia, old is a 7-digit business proposition. Majithia founded Genuine Solutions (GS) in 2005. Fifteen years since, GS has shown sales growth to the tune of 154% a year (between 2006 and 2009), opened a Polish sales office, and even received the Queen’s Award for enterprise in 2011, among others. Majithia, who is known to be methodical, logical, process-driven, and not one to rest on past laurels, has his eyes set on the future. As he prepares for the New Year, it’s time to look at how he scaled Genuine Solutions into a 7-digit business.
Let’s start by understanding what Genuine Solutions is straight from the horse’s mouth. “Genuine Solutions specializes in shifting products that are no longer considered new by manufacturers. We stock over thousands upon thousands of items such as Bluetooth headsets, car accessories, memory cards, dongles, and many more from companies such as Motorola, Nokia, and Samsung and supply them to independent retailers in over 24 countries.” This unique business plan helped Majithia establish GS as a company that’s driven to serve people and committed to saving the planet at the same time.
According to Majithia, the reason that helped GS stand out in the market and rank as a reliable go-to name in the list of some of the most prestigious clients was the absence of such a proposition in a well-organized manner elsewhere. He says, “We provide our customers with high-quality accessories. These products are not easily available elsewhere, so it is with great pleasure that we are able to provide them to our customers on time and at the same time guarantee the highest quality.”
Majithia also attributes GS’s unprecedented success to the world’s growing reliance on digital devices and accessories. He believes GS is an idea whose time has come and is here to stay. Adds Majithia, “Devices are now essential to everyday life but we are all equally reliant on our accessories, which help us define our individual interests and styling choices as well as enable device functionality.” As an effort to keep up the style quotient, GS partnered with CG Mobile to distribute a premium range of designer branded device accessories exclusively to the UK’s independent channel. This move came about in 2018 and played a massive role in helping GS scale its growth.
With grit, courage, and the intuition to make the right decisions at the right time and to collaborate with some of the most ambitious brands of the world, Bav Majithia used the power of networking and the potential of recycling to scale his business to inspiring lengths. Here’s wishing him many more of these in the years to come.