The Erode powerloom cluster has grown in terms of volume, value and variety over the last few decades and has become one of the active markets for cotton goods in the country. However, over the last few years the cluster has lost its prideful place due to labour shortage, obsolescence and margin erosion.
To overcome these problems, it was felt necessary to erase the ‘low quality’ image of the cluster and make it look attractive even for the quality conscious buyers. This can be achieved only by establishing linkages with national and export markets, ensuring patronage of ‘quality-seeking’ buyers, reducing role of middlemen and shifting competition from price-based to design, variety, quality, time and differentiation based. Texvalley was born with distinctively designed features to accomplish the above.
Texvalley was conceived as an intervention that will address the above issues by bringing a fundamental change in the way business is done and position the Erode Powerloom Cluster back on rails so that it can grow and achieve its full potential. It is an integrated wholesale textile market with 16 lakh sq.ft. of state-of-the-art infrastructure that has come up on an 18-acre land on NH-47 near Chithode, Erode. It is a ‘disruptive innovation’ project that is designed to change the complexion of Erode market from ‘unorganized’ to a world-class market. The value propositions of Texvalley which are very different from that of the existing ‘Erode market’ are:
Trade Promotion Initiative
Texvalley will deploy its resources to strengthen the existing markets for its members as well as create new markets in India and abroad by leveraging information technology.
Brand Identity
Advertisement, publicity and promotion of Texvalley will create positive brand equity for all Texvalley members.
Market Making
For unbranded / commodity products such as grey cloth, Texvalley will create an online trading platform to generate two-way quotes with bid and offer rates.
Financing
Since Texvalley’s warehousing facility is well organized and technology enabled, it is possible to create hypothecation of goods, member-wise, with changes in stock value updated instantaneously in the system. This can pave way for availing bank loan by Texvalley members.
Networking
Texvalley through various committees, expert panel, advisory board, working group, etc. can help the industry to remain at the frontiers of global business advancement envelope.
Developing an Ecosystem
The market, business networks, online portal, warehouse, logistics service providers, banks, convention center, overnight stay facilities, fine-dine, fast-food, home-food restaurants, recreation facilities, etc. together with the care and creative inputs of the promoters will result in a vibrant ecosystem in which Texvalley members can thrive.
Building Credibility
Texvalley can bring nation-wide and international acceptance to all Texvalley members instantly. This level of recognition and creditworthiness is difficult for small players to achieve otherwise and can prove valuable in opening up new market channels for Texvalley members.
Training
Texvalley members will be offered regular training programs on technology, market and business aimed at equipping them with knowledge and skills to improve their overall performance.
Providing a World Class Ambience
Modern facilities and infrastructure is part of the visible ambience, but more important are latest technology, fairs and exhibitions, business interactions and business culture.
Business Consulting Service
Texvalley will have a design studio, testing lab, training center and a consulting division where textile manufacturers and traders can get professional services to improve their product quality, productivity, product range, etc., by sharing the vast knowledge base available here.