The brother duo of Buddhi Bahadur Shrestha and Ganesh Bahadur Shrestha worked at Siddharth Highway Project and Land Reform Office respectively during their hey days. But after seeing a substantial market for confectionary items, they started their own business. Together, they opened a small confectionery factory called ‘Laxmi Mithai Bhandar’ in Pokhara in 2030 BS (1974) with an initial investment of NPR 2,000 that included money borrowed from neighbours. Using local knowhow about producing ‘pustakari’, a local sweet item, the two brothers used Indian manual machines to produce chocolates. At the time, their competitors like Nebico and Pashupati Biscuits used advanced German-made machines. Within two years, the brothers upgraded the production line with semi-automatic machines.
The same year, Laxmi Mithai Bhandar moved into the newly opened Pokhara Industrial Zone and was renamed as Jay Ma Laxmi Confectionary Industry which expanded into further units like Suva Laxmi, Maha Laxmi and Mahashakti Chocolate Company. These units produced popular chocolate items like Orange Ball, Diamond, Laxmi Sweets and Rimjhim Ball. In 1986, the two brothers established Jaya Ma and Jaya Confectionaries, which introduced candies like Mango Tart, Lacto Fun and Yo Yo, which were extremely popular brands. Laxmi Group continued with their business expansion with the establishment of Jaya Packaging Industry in 1988 and Jaya Polythene Industry in 1991. In 1995, Suva Laxmi, Jay Ma and Laxmi merged into a single entity known as Sujal Foods. Sujal Foods is the producer of popular chocolate ‘Choco Fun’ and ‘Sujal Gum’ chewing gum.
In 2005, the group entered the dairy market with the establishment of Sujal Dairy. The dairy company was formed following the successful acquisition of Pokhara Milk Supply Scheme (PMSS), a Pokhara unit of Dairy Development Corporation (DDC). The group then started a powder plant in 2063 BS. In 2006, Laxmi Intercontinental became the local dealer for Hyundai automobiles quickly becoming its sole authorised dealer by 2010. Laxmi Intercontinental has been a game changer not just for Laxmi Group, changing the automobile landscape in the family car segment and setting industry benchmarks in terms of product quality, sales points and after-sales services.
Laxmi Group believes that the establishment of ‘Laxmi Mithai Bhandar’ in 1974 and Sujal Dairy Pvt Ltd in 2005 established them as a prominent business group in Nepal.
- Automobile: market share of 35 percent
- Confectionary: market share of 40 percent
- Tourism (Hotel and Resorts in Kathmandu, Pokhara and Dhulikhel)
- Expand confectionery exports
- Trading (another mobile brand)
- Construction materials
- Contract farming
- 1700 people