Please fill in your details to download the Table of Contents of this report for free. We also do customization of these reports so you can write to us at email@example.com in case you need any other additional information.
Conservative financial policies and innovations helped us achieve steady growth
Shree Venkteshwar Group (SVG), a leading fabric manufacturer based in India, has considerable experience in the Indian textile industry. It is renowned for its embroidery. As the company climbs the ladder of success, Rajkumar Agarwal, Managing Director of SVG India talks about the various aspects of the Indian textile industry with Fibre2Fashion.com
What is the percentage growth recorded at SVG Fashions? Please share the growth percentage, segment-wise.
SVG is focused on providing high quality, technically superior fabric. The designs, colours and technical details of our textiles contain the DNA of SVG. Top-line growth has never been our focus. Despite this, sales have grown 100 per cent between 2010 and 2015. SVG has a vertically- and laterally-integrated manufacturing capacity from polyester yarns to ready, stitched products catering to various uses.
What are the latest technological advancements in the Indian textile industry? Which do you recommend?
All the technological advancements are focused on making the industry either more eco-friendly or more efficient in terms of the cost of production.
Digital printing is the future of conventional printing. Its costs are reducing fast to the level of conventional printing, in addition to the fact that digital printing is a much more environmentally-friendly method of printing. In the medium-term future, we expect Indian manufacturers to adopt waterless dyeing, which has started in Taiwan.
The textile industry must focus on the production process being more environment friendly, and the government must focus on helping the industry by implementing centralised effluent treatment plants.
What are the latest trends in the embroidery industry? Which ones have the potential to make the Indian embroidery industry international?
India is a world leader in the embroidery industry. Along with Turkey and China, India has the largest capacity for embroideries. Various innovations like the application of sequins, cording, applique etc have taken place. Also, printing in tandem with embroidery is being experimented. As a concept, I believe that the focus has to be on trying creations on machines rather than the usual made-by-hand embroidery. Hand embroidery is high-value embroidery. If we are able to create a similar work on machinery, there will be more potential for international acceptance. I firmly believe that Indian embroidery is well known worldwide.
What products fetch you the maximum revenue? Any new product launches on the anvil?
From the basket of products that SVG deals in, knitted fabrics enjoy a leading position. New product launches are a way of life at SVG. Each quarter, we launch new techniques, designs, textures, colours and finishes in each of the categories where we are present. We have launched a series of products made out of recycled polyester, which we have identified as a thrust area.
To which major brands do you sell your products?
Directly or indirectly, SVG happens to cater to a large number of international and domestic brands. Prominent among them are Adidas, Puma, H&M, Champions, Umbro etc.
How did your last two fiscals turn out? What are your expectations from the coming two fiscals?
SVG has managed to post steady growth in spite of challenging times. Our conservative financial policies and our constant thrust on innovations have been the factors which helped us achieve steady growth. Revenue as well as profit will continue to grow at high rates in the coming fiscals.
Please share some of your R&D findings.
R&D and innovations are focus areas at SVG. In each product category, we are improving as well as concentrating on higher standards of quality, design and product innovations. In recent times, we have developed low-pill spun polyester fabrics which received good response from top brands worldwide.
Published on: 29/02/2016
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.
Delivering unique, authoritative and relevant content, Fibre2Fashion has a diverse global readership. Drawing on the expertise, networks and credibility we have developed and combining them with our in-depth research, we produce authentic news, articles, reports, interviews, interactive explainers, F2F Magazine and compendiums, amongst others helping our readers to stay abreast with the latest industry trends.