B.A Lakshmi Narayana Setty influenced by the ideals of Swami Vivekananda set up
a small shop of 200Sq.ft., at Mylapore Chennai, in 1965 with an investment of only Rs.10,000
( USD 230) to sell electrical fitting and folding chairs. Added slowly radios, fans,
mixers, irons, heaters and other household equipments. He named his business Vivek
& Co inspired by his Guru Swami Vivekananda.
B.A Kodandaraman took over his reins of Viveks after the demise of his brother B.A Lakshmi Narayana Shetty
and increased the turnover of Rs. 1.65 lakhs ( USD 3,840) in the first year to a stunning figure
of 28 cores by 1980.
During the initial stages the consumer durable electronics were considered luxury product
and to make them reach the mass middle class families, Viveks started an in-house easy
monthly installments scheme. This also helped the company to increase its business
and gain new customers.
While the first 30 years saw the setting up only 3 showrooms, the subsequent 4 years saw spurt of growth – an addition of 50 more showrooms through the expansions and acquisitions.
By these strategic initiative for rapid expansion, by incorporating Vivek Ltd in 1994, established its dominance in the two states on Tamil Nadu and Karnataka with more than 50 showrooms covering a retail space over 2 Lac sq.ft and boasting of a group turnover crossing Rs.500 Crores!!