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Most artisans in the developing world, especially those in rural areas, lack access to global markets. This limits their potential to expand their businesses and increase their financial stability.
Jaipur Rugs Approach
Over the past decade, Jaipur Rugs has grown to be one of the most well-known social enterprises in India. Jaipur Rugs is one of the largest manufacturers of hand-knotted carpets in India, producing handmade area rugs, including the hand knotted, hand tufted, and flat woven styles. The company prides itself on the design and quality of its products.
Jaipur Rugs uses a decentralized rug production system, centered on a network of around 7,000 low-income home-based weavers and an additional 3,000 wool spinners. Looms are placed in the houses of the artisans in villages, they are provided with the raw material and designs. Rugs made this way are then shipped to the head-office for finishing before final sale.
Jaipur Rugs' Partnership With GBF
In 2012, GBF invested $1m to fund its working capital requirements and Capex needs. Jaipur Rugs is working on building new warehouses and branch offices to optimize it supply chain and reduce costs.
Prior to this investment, GBF was working with Jaipur Rugs through business advisory services to help the company become more efficient and expand in preparation for investment capital. Since GBF first began working with JRC, GBF has provided business advisory services in the areas of operations efficiencies, financial management, and corporate governance – this includes a one-year consultant to support the streamlining of the company’s organizational structure and operations. More recently, GBF has also provided the company access to a nationally recognized financial management expert to assist in financial planning and financial process improvements. With this multi-pronged approach, GBF aims to improve the company’s operational efficiencies and allow it to scale their impact.
Jaipur Rugs' Impact
Jaipur Rugs creates economic opportunities for unemployed and underemployed low-income people in rural areas of North India. They also provide services like training, health care and education to the artisan communities through their non-profit, Jaipur Rugs Foundation (JRF). Jaipur Rugs connects directly with artisans for hand-knotted carpets, and is thus able to provide fair wages– almost 40% more than what they would get paid working through a middle-man. Through a variety of programs conducted by JRF, the organization also trains thousands of new artisans each year, increasing their impact and production base each year.
Click to visit Jaipur Rugs' website.