WeWork India: Profitable and ₹1300 cr annual revenue
How WeWork India thrived while its parent company went bankrupt in 2023?
The answer lies in the strategic brilliance of Karan Virwani, CEO of WeWork India. Virwani, with his deep understanding of the Indian market, steered WeWork India on a drastically different path.
While WeWork Global expanded recklessly, Virwani focused on high-demand areas in Tier 1 cities, achieving an impressive occupancy rate of 82-87%.
Unlike WeWork Global's asset-heavy model, burdened by long-term leases, Virani forged smart partnerships with real estate giants like DLF Limited and Embassy, opting for a revenue-sharing model.
This agile approach allowed WeWork India to weather economic storms and maintain profitability.
Moreover, Virwani recognized the potential of India's burgeoning startup ecosystem and the increasing demand for flexible workspaces among large enterprises.
By catering to the needs of these big players, WeWork India secured a steady revenue stream, with 70% of its earnings coming from enterprise clients.
WeWork India's success story is a testament to the power of local expertise and a CEO's vision.
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This post was originally shared by Tarun Nazare on Linkedin.