Samir Modi

Samir Modi
Born (1969-12-15) 15 December 1969
Nationality Indian
Occupation Executive director, Modi Enterprises
Spouse(s) Shivani Modi
Children Jayati Modi and Vedika Modi
Website Colorbar

Samir Modi (born 15 December 1969) is an Indian entrepreneur and the younger son of Indian businessman K.K. Modi and his wife Bina Modi. He is an Executive Director at Modi Enterprises, which was founded by his grandfather, Rai Bahadur Gujarmal Modi, in 1933.[1] He is also an executive director of Godfrey Phillips India and a director of Indofil Industries Ltd. He has been instrumental in launching various new initiatives for the Modi Group, including Modicare, Colorbar Cosmetics and Twenty Four Seven Retail Stores.[2]

Personal life

Born on 15 December 1969, Modi completed his formative education at the Doon School in Dehradun. He then took a bachelor's degree from Hindu College, University of Delhi and later graduated from Harvard Business School. He is the youngest of K.K. Modi and Bina Modi's children. Samir's elder sister, Charu Modi is the CEO and Vice-President of Modi Academic International Institute (MAII), while brother Lalit Modi is a former cricket administrator, who founded the Indian Premier League (IPL) cricket tournament in 2008. In 1991, Samir married Shivani (nee Gupta), whose father runs Delton cables.[3] They have two daughters, Jayati and Vedika. Their elder daughter Jayati played a small role was part the movie Gippi (2013).[4] He also has a keen interest in the sport of boxing, with a gold medal in the Delhi state boxing championship,[5] as well as a passion for high-end automobiles, gadgets and music.[6]

Career

Samir Modi began his business career in 1992 as a Management Trainee for Philip Morris in US he was promoting the cigarette brand, Marlboro.[7] He initiated a 100% literacy programme for the company's workers.[8] After various stints in the Modi Group's businesses, he launched the network-marketing arm of Modicare in 1996. The venture began 12 products and 300 distributors. [9][10] In 2003, he took over the cosmetics business in Modicare, launching Colorbar Cosmetics for the domestic Indian market in 2004.[11] Over the years, Modi carved out a niche for Colorbar by repositioning the brand as a more exclusive yet affordable product.[12][13] In 2005, Modi launched Twenty Four Seven—India's first 24-hour retail store chain.[14] Modi marketed the retail chain as a one-stop shop for daily and general necessities .[15] Twenty Four Seven currently has 40 outlets in the National Capital Region and has plans to open 5,000 stores by 2019.[16] It has a franchisee agreement with the Indian Oil Corporation to open smaller stores at its petrol filling stations.[17][18]

Philanthropy

In 1996, he set up the Modicare Foundation in an attempt to prevent the escalation of HIV/AIDS, enhance awareness and erase the myths and misconceptions surrounding it.[19] In 1998, Modi published the book The Positive Side which promotes AIDS awareness as well as contains real-life experiences of patients and their battle with the disease.[20] The foundation partnered with the National Basketball Association in an awareness event.[21][22]

References

  1. ↑ Bhandari, Bhupesh (2 July 2011). "Split-proof strategy?". Split-proof strategy?. Retrieved 25 February 2014.
  2. ↑ "INDIA CONFERENCE AT HARVARD". INDIA CONFERENCE AT HARVARD. Retrieved 25 February 2014.
  3. ↑ Pradhan, Kunal (22 April 2010). "The rise. The fall.". Pune Mirror. Retrieved 25 February 2014.
  4. ↑ Srivastava, Priyanka (10 April 2013). "Facebook addiction lands former IPL chief's niece 'brat' role in Karan Johar's Gippi". Daily Mail. Retrieved 25 February 2014.
  5. ↑ Pattanayak, Banikinkar (6 December 2007). "'I don't want to be seen as a rich father's rich son'". The Financial Express. Retrieved 25 February 2014.
  6. ↑ Sharma, Aabhas (15 August 2009). "Trippin' along". Business Standard. Retrieved 25 February 2014.
  7. ↑ "Godfrey Phillips India Ltd". Bloomberg Businessweek. Retrieved 25 February 2014.
  8. ↑ "Boss' Day Out with Samir Modi". NDTV. Retrieved 25 February 2014.
  9. ↑ "An interview with Samir Modi, Managing Director, MODICARE.". The Hindu Opportunities. Retrieved 25 February 2014.
  10. ↑ Prasad, Swati (25 January 1999). "Business Inc interview: Samir Modi". The Indian Express. Retrieved 25 February 2014.
  11. ↑ "Passion over profit". The Telegraph. 19 January 2009. Retrieved 25 February 2014.
  12. ↑ Thomas, Prince Mathews (15 January 2014). "The Rise of ColorBar". Forbes India. Retrieved 25 February 2014.
  13. ↑ Borpuzari, Pranbihanga. "Raising the Color Bar". Entrepreneur. Retrieved 25 February 2014.
  14. ↑ "Opportunity lies in being available 24/7". Entrepreneur India. Retrieved 25 February 2014.
  15. ↑ "Modis unveil 24x7 store". Business Standard. 3 June 2005. Retrieved 25 February 2014.
  16. ↑ Bailay, Rasul (3 September 2013). "Twenty-Four Seven convenience stores vying to become India's 7-Eleven". The Economic Times. Retrieved 25 February 2014.
  17. ↑ Mitra, Sounak (26 January 2014). "7-Eleven formula for Twenty Four Seven". Business Standard. Retrieved 25 February 2014.
  18. ↑ "The Date- Want Colorbar To Be A Global Brand: Samir Modi". Bloomberg TV India. Retrieved 25 February 2014.
  19. ↑ "Modicare Foundation". Modicare Foundation. Retrieved 25 February 2014.
  20. ↑ Pisharoty, Sangeeta (5 September 2002). "The positive side of negative life...". The Hindu. Retrieved 25 February 2014.
  21. ↑ "NBA COMMUNITY OUTREACH IN INDIA TO FOCUS ON EDUCATION, HEALTH AND WELLNESS". NBA. Retrieved 25 February 2014.
  22. ↑ "American NBA reaches out to India with HIV/AIDS programme". One India News. Retrieved 7 March 2014.
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