Inside Samir Modi's ever-evolving business empire

Surrounded by modern art, walking barefoot in his creatively curated, artfully designed home, he is a man in a hurry—to keep exceeding his own expectations, to stay ahead of the game in whatever he does, to keep racing ahead into his next venture even when the current one has barely taken off. Meet Samir Modi, the maverick with an uncanny instinct for success. A Harvard Business School alumnus, he launched India’s first direct-selling company, Modicare, at just 25, and 10 years later, unveiled Colorbar to make it one of India’s largest cosmetics brand.

While Samir is certainly revered for his global outlook and multicultural approach, his entrepreneurial ethos stems from a lineage of visionary industrialists—his father Krishan Kumar Modi and grandfather Rai Bahadur Gujarmal Modi. Amid the seriousness of his work, Samir’s flamboyance is undeniable, reflecting in both his work and interpersonal connections. “I’ve combined my passions and idiosyncrasies with the traditional ethos of the family to carve out my business formula,” he says. And rightly so. With the creativity and business acumen he inherited from one of 
India’s largest industrial houses, this fourth-generation Modi stands apart. 

CARRYING A VISION FORWARD

Samir has always been on the tailwind of entrepreneurial innovation. Though born into a generation where he could have comfortably taken on the family empire and managed just that, his sheer tenacity to foray into newer territories is commendable. “The culture at our workplace is very family-oriented. My grandfather believed that either you tie up with the best or be the best,” says Samir. “I love to create, I love to design…” And this creative touch comes to him from his mother, the extremely talented Bina Modi. 

A BEAUTY BEHEMOTH

What began as an accident eventually evolved into one of Samir’s greatest triumphs. Today, Colorbar boasts a market share of 3.6%, ranking fourth in the Indian beauty industry, just behind giants like Unilever, L’Oréal and Estée Lauder. With ‘Made for Magic’ their brand philosophy, Colorbar has long stood for empowerment and self-expression. “When I shared my plans of launching a cosmetics company with my father, he said this model would be fraught with failure owing to the fragmented nature of the market and the multinationals around with deep pockets. But I love challenges. So I took this on and proved that when a concept is right, it will surely succeed.”

Today, Samir’s personal involvement has made Colorbar a leader working with the top six manufacturers in the world. Next, the brand is ready for international dominance—Samir has plans to launch it in the US, along with working on a Korean beauty line. “We’re actually discontinuing most of our skincare products,” Samir reveals. “We want to launch a simple line: 15 products and that’s it. Cleanser, toner, moisturiser, sunscreen and day cream—five products per person, and all refillable. We’re also aiming for 100% sustainability by 2026.”

BLENDING LUXURY WITH PURPOSE

In 1996, Samir founded Modicare as part of the US$1.5 billion Modi Enterprises. With a simple yet ambitious vision (“I’m going to transform Modicare and guarantee its future”), he launched ‘Modiway – The New Way’ initiative under the slogan “Live the Modi Way.” With the aim to revolutionise the direct-selling industry, he capitalised on his fundamental ideologies of financial freedom, holistic well-being and personal growth. From veg collagen and super greens to protein powders for the lactose-intolerant that take care of both flavour and protein, Samir has established Modicare as a premium wellness platform with high-end products true to his promised vision.

A GLIMPSE BEYOND BUSINESS

Despite his dynamic background in traditional businesses, Samir speaks with an unwavering enthusiasm about his most passionate and “seasoned” venture yet—Sammy’s Sauces. “I’m not a typical Modi, and I’m proud to say that. While Modis do business the typical way, I do it with passion and creativity,” he says, alluding to the firms he heads that aren’t a product of inheritance. The cheekily named offerings of Sammy’s Sauces are as flavour-forward as they are personality-packed. Like the ‘I’m so Hot’ spicy momo sauce, ‘I’m so Ming’ masala chilli oil and ‘I’m so Swicy’ (short for sweet and spicy) Indian chilli oil. And he isn’t stopping here.

Transpiring into fruition is his 30-year-long dream, Banaras Bhang, a store that curates handpicked home décor products from some 150 Indie brands. “Banaras Bhang is a culmination of many things,” the entrepreneur explains, describing the project as an extension of everything he holds close to his heart— creativity, flea markets, shopping and innovation, all under one roof. “I’m a compulsive shopper. So it’s natural that I am venturing into creating spaces now.” The evolution still doesn’t cease! Samir is penning a biography chronicling his journey, offering a candid take on the man behind the multi-industry empire. However, despite the success of Colorbar and Modicare, he humbly resists the ‘successful’ label. His ultimate goal? To see his name on the global Fortune 500 list.