India has come a long way over the past decade or so, having abandoned the old guard and embraced the new with open arms. During this cusp of change, former NIFT Professor, Mausmi was waiting for the right moment to branch out independently and give her bit in this revolution.
“The world consumes a staggering 90 billion pieces of clothing each year, and at the same time, wastes around 1.3 billion tonnes of fabric each year, which is enough to cover the circumference of the earth 3 times. These decomposing fabrics release Methane, Dyes and Chemicals which are leaching into the soil, contaminating both surface and groundwater. So my friends and I felt the urge to come up with an idea to challenge the established norms, and our farsightedness led to the birth of ThreadSol”, says ThreadSol Founder Mausmi Ambastha.
With the help of its innovative software solutions – IntelloCut and IntelloBuy – ThreadSol helps manufacturers boost their top line by 50 per cent, enables them to save 10 per cent cost on fabric, and reduces fabric waste to under 1 per cent. It’ll be appropriate to say this start-up is here not to just make retail sales but rather on a mission to save the planet.
Excerpts from an exclusive interaction with Mausmi Ambastha of ThreadSol:
Background of Promoters
Well, besides having a passion for what we do, we all have a specialized professional background. I am a former professor at National Institute of Fashion Technology (NIFT) after doing an M.F.Tech (P.G.Tech), Garment Manufacturing Technology from National Institute of Fashion Technology.
On the other hand Abhishek Srivastava is a Master of Computer Applications (MCA), Computer Science from Uttar Pradesh Technical University. Manasij Ganguli also being the co-founder & CEO at ThreadSol, has to his credit, a Cloud Based Material Planning and Optimisation Software for Apparel/Car Seat/Footwear B.E., as also a degree in Electrical and Electronics Engineering from Birla Institute of Technology. And Bratish Goswami, another founder is located in Kolkata, and is also the VP (Engineering), and an MSc, Computer Science from Banaras Hindu University.
The initial period- the challenges & the ecstasy of quick wins!
Since our software is unique and has never been attempted by any manufacturer before, it was initially a major challenge to make our clients comprehend the viability of this innovative concept. Many age-old apparel manufacturers were initially apprehensive about its success too, 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.
The journey so far!
The journey has been satisfying so far, but we have a long way to go. Considering ThreadSol went into operation four years back and is currently chasing a target of US$ 5.0 million, we have done pretty well.
Presently, we have a total of 95 clients. We are growing 300 per cent year-on-year and want to reach $100 million turnover within next five to six years. The team is targeting sales in eleven countries – Sri Lanka, Bangladesh, Philippines, Indonesia, China, Egypt, Vietnam, Cambodia, Pakistan, Thailand and Turkey. Most of our revenue is generated by overseas clients but we are proud to announce that we, now, have a few Indian clients as well, and there are quite a few in the offing. But it’s not the time to be complacent and we feel, the sky is the limit for us!
The future, as you see, 3 years from now in terms of scope & scale of your business enterprise
Although we are relatively new, we have ambitious plans to not just stay afloat but to overtake and surpass competition in the next three years. We aim to be the #1 garment tech firm in the world by 2020. We would want us to be the de facto solution provider for the garment industry.
Key moments of reckoning in business life
Every step in the ThreadSol journey has been a milestone. For us, thus, each stage has been equally important. For instance, the first sale after so much struggle, the first international sale in Sri Lanka, the first million in revenue. The list is quite long.
The feelings on getting the first big order for your company
As I said earlier, the major challenge has been to get across to our clients with the concept itself. For some of the manufacturers to comprehend the very idea of software technology interfering in their hardcore business takes rather long. I must mention that initially, most clients were dismissive of any such gains. But thankfully, our persistence and clarity on our execution of our products won them over. Once we are able to clear that hurdle, it’s a smooth ride for us.
Therefore, when the first order was booked, it was an emotional moment for not just four of us, but for the entire team. Though, the first order was more of an experiment for the client, we made further inroads into their business by our team’s sound technical knowhow and perfect managerial skills. Needless to say, the first contract we signed brought us immense joy.