C Devarajan & P Raajashekar
Vice Chairman & Managing Director Texvalley
Every new business at Texvalley is also a recurring business
Texvalley, located in Erode, in southern Indian state of Tamil Nadu, is spread across 20,00,000 square feet and has been re-positioned as a Price-less Marketplace. It shall house south India’s first Outlet Mall that will be a key attraction and destination for the residents of Erode and the neighbouring towns. It promises customers a greater value for their money, by enabling them to buy, dine, and entertain themselves in one place with a variety of options. In an Interview with Fibre2Fashion, Texvalley vice chairman C Devarajan and managing director P Raajashekar discuss the project, its business, the facilities offered and plans ahead.
When was Texvalley established? How has it grown ever since?
Texvalley was established in 2014. It has been very well accepted and encouraged by the textiles and garment industry. It was almost at 90 per cent occupancy when the pandemic stuck, which speaks about the volume of faith people have shown in the project. Post- COVID, it is regaining its position in the market and growing strongly. Texvalley today boasts of over 450+ experience centres by various manufacturers.
How many wholesalers and retailers are associated with Texvalley?
There are more than 450+ Operational Experiential Stores, set up by textile, apparel, accessories, home textiles etc companies, and we are in the continuous process of bringing in more and more manufacturers.
What kind of products are available at Texvalley?
Texvalley is a marketplace for manufacturers of various categories like textiles, garments, hosiery, innerwear, home linen, accessories, etc. It is a one-stop destination for all of these categories.
What is the average footfall that Texvalley mall receives every day?
The average footfall in Texvalley is increasing by over 25 per cent, post- COVID on a month-on-month basis. The mall is currently receiving an average footfall of around 80,000 a month.
What is the average annual business generated at Texvalley?
Texvalley has generated over ₹1,000 crore of business in the last one year, and we hope that this top-line turnover shall keep increasing. The indirect business generated by Texvalley is very difficult to measure as those are all B2B transactions. The good thing is that every new business at Texvalley is also a recurring business for the manufacturers, as they bear the fruits of long-term benefits of being at Texvalley.
Please tell us about the project ‘New Avatar’. How and when will this be implemented?
We envision Texvalley to become the new shopping destination for the region, by bringing in a wide variety of options. In its New Avatar, apart from retaining the B2B business, Texvalley shall add a section for B2C too, along with options for hypermarket, multiplex, family entertainment centre, fashion anchor stores, along with vanilla stores of international and national brands. The New Avatar of Texvalley shall be a great puller of both B2B & B2C businesses, thereby moving towards becoming a destination for all.
What kind of assistance and facilities does Texvalley offer to buyers and sellers?
We organise one-to-one meetings between both buyers and sellers, along with facilitating the business for them. The amenities available at Texvalley helps both to do business smoothly. We also have a Fashion Designer Club (FDC), which helps the local manufacturer to be in sync with international fashion, colour forecasting, trends of the season, pattern making, etc. In other words, Texvalley facilitates smooth business between buyer and seller.
What are the plans for the next two years? Do you plan to go online? Please share a few details.
Since we are an ‘Offline Marketplace’, we have no intention of becoming an e-commerce B2B. However, we will be coming up with an app and web portal for the international buyers and consumers, who would like to reach us from across the globe. We also would conduct two large events/ seminars/conferences/display shows for manufacturers from all over the country. Along with that, we would be organising monthly events to promote the integration between the manufacturers and buyers, thereby increasing the overall purpose of Texvalley. We plan to become the destination marketplace for the sector, gain a leadership position and be a trendsetter. We want others to copy the concept of Texvalley.
Published on: 06/10/2022
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.
