Name of your company ‘Rich Peace’ sounds interesting and atypical in terms of Machinery Business. Can we start the talk with a few lines from you on the ethos behind naming it so?
Richpeace is a combination word of RICH & PEACE. All over the world people have same expectations from the life: one is to be enough wealthy in substance as well as in spirit, and the other is to have a peaceful environment. So, I made the brand name as Richpeace. Interesting to know that; no matter Chinese or Foreigners, they all like this name!
In world textile machinery market, how do you see embroidery machinery market faring? What is its total size and future potential?
After the market took off since 2004 until 2007, India especially, is the biggest embroidery machines’ market. However, now the market is going to be stable. In China many smaller embroidery machines factory are closing. And henceforth, the market won’t be same as 2004-2007, but the market potential as well as demand will be stable. The customers have gradually realized to select high quality machines to be the choice because more and more people understand that expensive means long time cheaper. I believe the real time for high quality machines is coming and this market will keep stable potential for high technology & high quality machines.
Advent of embroidery machines has given a new horizon to fashion. What is your say?
It is true. Fashion means following the popular trend and also to be unique. Embroidery has been introduced to fashion from the very beginning. Nowadays embroidery has become one of the most important forms of embellishments in fashionable clothes, and it will keep playing this main role as there is no substitute of embroidery.
World Apparel industry is sluggish due to US recession and other issues, how would this affect your Order Book and Business in turn?
These days, around the world, all the textile related industries have been influenced by this situation. But Richpeace is not influenced much as Richpeace is always targeting different users. For instance, last year thousands of machines had been abandoned in Nava Sheva, excluding those from Richpeace. This was because all Richpeace customers are established producers for high quality embroidery and this kind of customers are always the last one to be effected by the poor market situation. So, nowadays, market situation influence is there, but not lethal for us.
China is recording sharp increase in domestic patent applications for inventions. How many patents have been applied for by Rich Peace?
Richpeace now has 30 patents in the industry. Also Richpeace is the only one company that keeps big R&D team for mechanical and electronic innovations in China. Richpeace’s most salient advantage is to represent China’s advanced technology
Your company has the network spread world wide. Amongst these countries which do you regard to be emerging markets and which all are already established one in your line of business?
Right now Asia, Europe & Africa are our main markets, and we have established good sales & service network. We are expecting to develop more in North American and South American market. For South America, particularly, we see a huge potential.
How do you find competition in your field and what makes Rich Peace stand different?
Without enough competition, any business cannot flourish. In fact, when the competition is tough, it shows that the market has the big potential for this business. But to survive in this tough competition, you must have something unique which others don’t have and the most difficult competition is to fight by price. Richpeace is focusing on technology, quality and service always. All these make us very strong in the competition because in the long run it finally establishes the market trust amongst customers.
After sales services and customer training programs make a major constituent of a Company’s Customer Services. How does Rich Peace make itself a paradigm in this area?
For the machinery business, it is not possible to do well without good support from after sales service. From all Richpeace’s exclusive agents, we ensure they set up the service team before sales team and organize yearly training for the exclusive agents’ chief technicians in order to make the after sales service more effective and efficient. Sometimes, for the big companies, Richpeace also invites those factories’ operators or technicians to get training in Richpeace factory to get more knowledge about Richpeace’s new technology and new embroidery techniques. This is a continued process which needs to be carried on every year. We believe, all these practices make us stronger in market, and helps the customers enjoy more benefits from Richpeace products.
In the world struggling hard with environmental and energy crisis issues, what patents Rich Peace can offer as a contribution to this league?
Environment and energy are the two main concerns for everyone in the world. Richpeace is also positively involved in this league. We do this by upgrading the machinery with more energy saving techniques. For example: using all the servo motors in stead of clutch motors for saving energy during machines' operations. Also Richpeace is pursuing more new technology in its different products such as electronic bicycle, solar battery etc as it is keenly concerned to environment and energy.
DISCLAIMER: All views and opinions expressed in this column are solely of the interviewee, and they do not reflect in any way the opinion of Fibre2Fashion.com.
