Smew was started in 1958 by Mr. Vinod Nagarsheth.  The promoters are descendents of Sheth Shantidas , a famous jeweller, financier and businessman of the seventeenth centrury.  Shantidas is known to have even financed the mighty Moghul Emire and was the first to be conferred with the  title of Nagarsheth.Khushalchand (1680-1748) grandson of Shantidas had saved the city of Ahmedabad from the marauding Maratha army in 1725 by paying a ransom of Rs.5 Lakh on behalf of the whole city.

The current surname is derived from being the Nagarsheths of Ahmedabad.  The family is also the founder of the Anandji Kalyanji Trust and has given several major donations across Ahmedabad.