From the business potential point of view, geographically, which all are most promising markets for your industry?
We continue to see the Asian markets as the main markets for Terrot. Because of the importance of the Asian markets, Voltas Limited from India has become a shareholder of Terrot. Voltas is an affiliate of the TATA Group.
How do you fight out fierce competition from established countries viz Swizerland, Italy and USA?
We have virtually no competition from countries like Switzerland and the USA. In Italy we have Pilotelli who is a strong competitor.
Trade fairs are mainstay for all successful companies. What is your say on this? Does it reciprocate ROI (Return on Investment)?
Since circular knitting machines are highly complex technical products, Trade fairs give clients the opportunity; to inspect the product, ask technical questions and compare with competitors. There is no substitution for this. The cost is part of the marketing budget and these costs must be included in the ROI calculation and are considered basic costs of doing business. Without participating at fairs it would be virtually impossible to stay in business and the effect would be very negative on ROI. Terrot participated last year with a large booth at the ITMA in Munich exhibiting 5 new Machines. It will also participate at the ITMA Asia in Shanghai in July of this year.
The demand for low priced textile machines from low cost manufacturing base countries like Bangladesh, Pakistan, Sri Lanka, South Africa and Turkey, has been observed growing. How does your company cater to such markets?
Terrot’s strategy is not to become the largest manufacturer of circular knitting machines in the world. Its strategy is to offer to the market a large portfolio of high quality machines with high productivity features. They are aimed at a set number of customers in the world who prefer to work with these kinds of machines and stay away from the low price market. For example, Terrot introduced at the ITMA in Munich an electronic machine to produce mattress fabric. This machine produces about 50% more mattress fabric than any machine of its kind manufactured by other producers of such machines.
Can you delve out latest happenings at your Research & Development department? How does it stay tuned with rapidly growing technology?
R & D plays a central role at Terrot. We are continuously working on new ideas for the improvement of our machines. Terrot would not survive unless it is committed to R & D. This has worked well for 145 years and I guess it will be essential in the future. Our R & D is heavily guided by client wishes for improvements.
The uncensored stealing of innovations especially in countries like China remains the challenge.
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.