Breaking the tradition of keeping business information secret even with their peers in similar business, a group of young, like-minded textile entrepreneurs have started using WhatsApp aggressively for exchange of information.
Texpreneurs Forum, comprising the second generation entrepreneurs in the textile business, is no longer averse to discussing company-related issues, which their forefathers or elders never indulged in, even just a year ago. The group has grown from 20 members when it was initiated about 15 months ago to 170 now.
According to D Prabhu, Secretary, Texpreneurs Forum textile entrepreneurs were apprehensive about the competition from within. But the current generation pursue this differently. The group’s endeavour is to take this industry to much greater heights. And in this journey they have realised that they were not in competition with the mills located in this region but against those in other states and competing countries.
Each group, comprising 20 members, exchanges as many as 10 to 12 messages everyday and the enthusiasm to discuss and debate some of the issues is growing by leaps and bounds, says Prabhu. The group is comfortable in exchanging a host of information, like price at they sell or availability of high-priced key spares in some other unit to financial performance.
The group is also more open to sharing views and taking advice from others which enables them to understand ones strengths and weaknesses. They are not worried about highlighting emerging trends.
While the focus is on manufacturing excellence and product innovation, the forum serves as a platform, a warehouse of proven best practices and encourages replication and horizontal deployment of such practices in the overall interest of the industry.
The forum’s objective is to regain the past glory, once considered as the Manchester of South India.
VIP Clothing has entered a new market segment with the launch of branded handkerchiefs while also expanding its presence within…
Cotecna has officially opened its new Softlines Testing Laboratory in Tirupur. The inauguration was led by Amit Chopra, along with…
Loop Industries has raised €10 mn through a convertible preferred security agreement with Reed Societe Generale Group, an entity under…
OJAS has partnered with Maharishi for a capsule collection in military-inspired aesthetics featuring Maharishi’s Original Snopants, sweatshirt, and a tote…
Red Run has announced its foray into menswear with menswear collection, titled ‘Drop 1,’ featuring 10 essential pieces designed for…
INEOS Styrolution, a global leader in styrenics, has successfully completed its first project involving mechanically recycled polystyrene in yoghurt cups.