From being Doomed to becoming a Tycoon: How Yogesh Mehta Overhauled?

Never give up, for that is just the place and the time that the Tide will Turn–Harriet Beecher Stowe.

From losing in business, getting a job at Dubai for Dh2000 monthly to becoming a tycoon with a multi-dollar business, the upgrade of Yogesh Mehta – Managing Director of Petrochem Middle East- one of the largest chemical wholesale dealers in the Middle East–was a stunning hike. Yogesh Mehta, who pitched up to Dubai in 1990, runs his family business with his son Rohan, along with expert professionals. 

Image Source: Forbes Middle East

Beginning the journey:

Holding to an entrepreneur urge from an early age, he began his first business at 19. He succeeded in some and lost in some. 

He openly stated that he lost his business at 28, as his business swooned. Although he was married to Falguni at 24 and was having an 11/2-year-old son, he had to move to Dubai with nothing in his pocket for a monthly salary job. Even though he was educated, he felt he couldn’t set right with his career. 

Initially, he was depressed in his life after landing in Dubai, as he couldn’t succeed in his dreams of becoming a business owner. He also felt that he needed an urge, a chance to prove and start afresh. That’s why he got a job in a new place in Dubai. It took him 360 degrees in his life. 

Settling in the land of opportunity:

In the early days, Dubai was not a developed city. As Yogesh describes, “But there was a promise in the air. The positive vibes were unmistakable”. He also added, “When I was considering a career change in my life, many people said that Dubai is a land of opportunity. I tried to try my luck here, but I did not know the great growth potential that awaits me”. 

Yogesh started working instantly after arriving in Dubai. He also worked as an associate for a small business that oversaw chemicals- similar to how Petrochem is doing today. When the business grew, he quit and started his own venture in the year 1994 with a British partner who was living in Dubai. 

The business developed and now they have a turnover of $1.5 billion, and they are the largest chemical distribution company in the Middle East and rank 12th in the world. Now they have spread in London, Singapore, Taiwan, China, India, Egypt, London, Amsterdam. The company’s headquarters are in Dubai, with 230 staff worldwide.

Growing it big in the UAE:

Petrochem developed because, in the initial days, it was easy to get agencies to issue chemicals. They wanted to create ultra-modern distribution terminals, so they formed a team of professionals with the best chemical engineers. They also faced many challenges during the time. One such was the 2007 economic crisis, where the stock market crashed and with-it gold. They have to bring changes in their business, as they are not ready to give up. They teamed with new strategies and fixed them with full determination. 

Pandemic Crisis:

After the collapse of the Lehman brothers that resulted in the economic crisis, the next enormous blow is the pandemic. As is common to all, even their work came to a stop. So many closures were agony to all. It was lucky that it involved them in the chemical industry. The demand for disinfectants grew and so they could sustain this crisis. 

Upgrading into the family business:

Yogesh states that if you have the right business strategy and right business partner, then nothing can stop your success. He was happy that his partner David took care of the European part of the business. Since David’s children were not interested in business and Yogesh’s son was active in this business, then David offered to sell his shares to Yogesh stating it is better to run it as a family business and so they parted on friendly terms. It all happened when the business was expanding in the year 2018. So those shares were bought by Rohan Mehta, his only son. 

Personal life:

Yogesh Mehta was the son of a Gujarati brahmin father and Sindhi mom from Mumbai. His father was a business owner with a Ph.D. in polymer chemistry. He is happy that he followed his father’s steps and that was a tremendous step to change his life forever. 

His son Rohan Mehta, qualified from Northeastern University in Boston, the USA, in 2011. He was employed in Texas for a large global company that creates petrochemicals for two years previously and then joined Petrochem. It was not a simple task, to begin with, as he has to face many challenges despite having a family business. He gained and learned a lot and so returned to Dubai to join his family business. 

With experts and mentors in Petrochem, the team grows and learns together. Whenever they have to divert their strategies, it is done with guidance from these experts as a team. This journey will grow and reap high yields. 

Priya
I, Priya Nagarajan, is a past Assistant Professor, mentor, tutor, counselor. Writing has always been a passion of mine and so changed my path to my passion. I believe language is the best way to convey your thoughts and dreams to get the results. I believe it takes a personal approach to reach individual success. I write with a flair for creativity and a keen eye for the professional.

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