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What challenges did you face while setting up your company?
Since our software is unique and has never been attempted by any manufacturer, it was initially a challenge to make clients comprehend the viability of this innovative concept. Many age-old apparel manufacturers were initially apprehensive, but once we explained the idea in detail, it seemed like a cakewalk. So far, we may have received a delayed response, but we have never faced rejection.
Which textile companies are using your solutions?
ThreadSol products have been recognised and adopted by top apparel manufacturers like Epic Group, Madura Garments of Aditya Birla Group, Blackberrys, Raymond, MAS Synergy, Hirdaramani Group, Orit Apparels and Dekko Group.
Which are your major markets? Which markets are you planning to explore?
Our major markets are Bangladesh, Indonesia, Sri Lanka, Vietnam, India and China. We plan to explore East Africa, Korea and more countries in South East Asia.
What are your marketing strategies?
We cater to a niche market. Our marketing strategy changes with every geography as the sentiments and consumer behaviour of every market are different. We try to educate our customers through content marketing specific to geography. Content plays an important role for any B2B marketing. We share knowledge through our blog ThreadSol Experts, Global Apparel Forum, and Stitch Diary.
Our new initiative, Apparel Tech-up helps bring garment industry experts on one platform for a panel discussion on the economic betterment of each geography. We have successfully organised it in Indonesia, Bangladesh and Vietnam. Our future ventures would be in India and Sri Lanka.
Are you planning any new products?
There are a couple of products in the pipeline. We plan to make additions to our solutions both vertically and horizontally. So, the new products will cater to a larger audience in the apparel industry.
What is your take on sustainability in the apparel industry?
The world is consuming a staggering 90 billion pieces of clothing each year, and over 21 billion tons of fabric is wasted annually. That is at least 5-10 per cent of fabric purchased. This wastage dents profits. The garment manufacturing industry could now look at some innovatively developed software solutions and algorithms that help save three per cent to seven per cent of total fabric cost. This can be a huge boost for efficiency in this sector and lead to affordable clothing.
What are your future plans? Where do you see ThreadSol in the next five years?
ThreadSol went into operation four years ago and is currently chasing a target of US$ 5 million. Presently, we have over 100 clients. We are growing 300 per cent year-on-year and want to reach a turnover of US$ 100 million within the next five to six years.
What is your R&D team like? What is your company's budget for R&D?
ThreadSol has an R&D team in Noida and Kolkata. Our consultants travel around the world and all innovations are made keeping the worldview in mind. A large part of the budget is allocated for R&D. Innovation is our USP and the highest priority for the organisation.
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