Venus receives Supplier of the Year 2007 award from Walmart
Retail giant Wal-Mart has given Ludhiana-based Venus Garments Limited, Supplier of the Year 2007 award, for its excellent performance and on time delivery throughout the year. One of the largest exporters of knitwear, Venus has managed to create a special and prominent place for itself in the international market.
In an exclusive interview with Fibre2fashion, Mr Anil Jain, Chairman, Venus Garments asserted “A lot of effort was put in to be recognized by Wal-Mart. Our team in particular had shown tireless dedication to cater to the needs of our buyers. We constantly reviewed our progress in terms of quality, on-time delivery, and samplings because with buyers like Wal-Mart, a lot of time and effort has to be put in before you even start receiving orders.”
Today Venus shines bright, working out of a 6 lakh square feet area and its eight units are spread in different parts of the nation. It has stiching capacity of around 2 million pieces per month and can produce 15 ton of knitting and finishing fabric daily. However, the beginning of Knitwear giant was humble, Mr Anil says, “When Venus Garments was established, we had a very clear vision in mind. We had laid down clear goals of where we want to be in 5, 10, or 15 years. Every time we achieved something big, we set an even higher goal for ourselves for the next time. All of this didn't happen suddenly, instead it evolved with time. With Wal-Mart's supplier award in hand, we now aspire to become the largest exporters of knitted garments from India.”
Many garment manufacturing units across nation had booked losses last year owing to rupee appreciation but Venus stood tall amidst crises. While taking about the steps their company took, Mr Jain divulged, “Immediate steps that we took were to cut costs wherever possible by strongly focusing on improving our efficiencies, which is going to help us in the long run as well. We also strengthed our backward integration by expanding yarn dying, knitting, fabrics processing capacities. We also hedged our currency risks to take care of rupee appreciation. I think situations like these make us more competitive in local and global terms, and we tend to see to the positive side of it.”
At present, Venus Group is involved in all the sectors that are related to apparel making that includes yarn and fabric dyeing, knitting, finishing, garmenting, garment washing and printing. While sharing his views related to the future of textile industry, the Chairman opined, “As most of the buyers now want to source at the cheapest possible prices, it is going to be survival of the fittest. We have to be really cost competitive. Innovation and knowledge based products are other areas we have to look into. With the economy growing at a fast pace, we see a bright future for textile industry.”
The impressive clients list of Venus, which has shown outstanding growth of 48 percent over the last three years, includes Gap Inc, Wal-Mart, Tom Tailor, The Children's Place, Sam's Club, and Suburbia. The products range from T-shirts, jogging suit, thermal wear, and sweaters for men, women, kids and infants.
Fibre2fashion News Desk - India