A name that has become synonymous with yarn business in India, Nimbark Fashions Ltd., after making its mark in the industry for its differential yarns, is diversifying by collaborating with other players in the supply chain. The company is not just boosting its own business, but in turn providing many others the opportunity to earn a share of profit as well. Speaking exclusively to Apparel Online, Mahesh Maheshwari, Director, Nimbark Fashions Ltd . explains how the company is catering to a niche segment, which is providing avenues of growth not just for them but for others as well.
It has finally dawned on the textile industry that working in regular products is not going to support growth and more and more companies are now investing on product development. Another reality which is increasingly finding expression in the industry is the need to work together as a group for collective gains. “My work is product and business development. We cover the whole textile chain from this office involving different players in the link, including yarn dyeing and processing units. We have encouraged them to use our office for buyers’ meetings as it is conveniently located and also has the resources to satisfy different needs. Once buyers come in the network, it further spreads the goodwill around,” exclaims Mahesh, sitting confidently at the Mumbai office of Nimbark, which is creatively done up to reflect the philosophy of the company. Automatic wooden lights that can be monitored through mobiles adorn the office while all the computers are connected to a central server negating any misuse or unwanted transfer of data.
The business that was set up by three brothers in 1987 as a yarn trading business has come a long way and now the Nimbark Group, with a turnover of above Rs. 200 crore (US $ 30 million), has diversified into yarn manufacturing, fabrics, business consulting and investment banking. The latest direction for the company is to bring the industry together to beat international competition. “I am ready to tell the industry how we make these unique yarns that is attracting so much business, as I will be creating followers while I will still remain a leader. There is a change in the attitude of the industry, as the players now understands that they will lose if they do not share,” says Mahesh.
Taking on a pro-active approach to business and showing others the way to work differently, the company already has 15-20 additional clients from each state, through this common thread, which is continuously seeing an increase.
In the meanwhile, Nimbark is leaving no stone unturned in getting its basics right and most importantly, the company lays heavy emphasis on presentation of its product categories that range from anything between cotton yarn, polyester, modal, tencil, rayon, linens, etc. manufactured at its two spinning mills in Gujarat and Ahmedabad. “We make yarns that other Indian companies do not even think of, and present it in a European way, as presentation is very important. Also, we work on our own terms whereas the biggest weakness of Indian suppliers is that they don’t value their own products and they always do everything demanded to get business, working completely on the exporter’s terms,” informs Mahesh.
This autocratic way of working by garment exporters has led the company to focus more on domestic business, doing niche instead of bulk business such as integrating fabric into weaving for men’s shirt and selling it to corporates such as Mafatlal, Raymond, Ruby, Siyaram, etc. “The products that we have are different and is not available in India; that is why when we are now looking for new business avenues as we are very sure about our fabric and our price. It’s a ‘Leave it or take it’ situation as we don’t haggle with our prices,” confirms Mahesh. Nimbark believes in creativity and constant innovation, following the philosophy of ‘There’s always a way to do it BETTER, find it!’ This spirit has helped Nimbark create a niche for itself in the industry.
Offering products such as filament yarn, viscose, cotton-dyed fabric, modal silk, dupont silk, variations of linen, soft yarn with various colour variations, the company provides the industry with something new every time in terms of product development. “We rely on customer’s feedback for product development and also we have a few consultants with whom we work with regarding trends,” shares Mahesh. With 85 per cent of the company’s business in yarn, which is utilized by the domestic market of Surat and the rest 15 per cent in fabric, which the company started just 3 years ago, Nimbark accepts a minimum quantity of 3-5 tonnes in yarns per order, though for special customers it does as small as even 25 kgs. “We are flexible, as apart from our two spinning mills, we also outsource work to a dedicated 2,000 spindles as well. Through one of our units we can make as less as 10 kgs also. Our production capacity from 1 lakh spindles every month is about 1,000-1,200 tonnes,” states Mahesh.
While keeping stocks to feed the industry, the company sources a part of its fibre requirements from Jaishree textiles and China as well. Offering the industry product categories in India that are niche and at par with the international market, Nimbark has succeeded in not just making its niche in this vast industry, but have also laid down the foundation of continuous growth in 2016. “For us 2015 was a learning phase and business was also better, but 2016 is going to be a robust year for us as we are looking for a 50 per cent growth this year against the 5-10 per cent that we had last year. We have done our groundwork, and our base is much stronger now. Though I am not very positive about the market in general for 2016, but am sure regarding our own growth,” concludes Mahesh.