Professional Documents
Culture Documents
Entrepreneurship Jury
Entrepreneurship Jury
Submitted to:
Ms. Lipi Singh
Assistant Professor
Submitted by:
Himanshu (MFM/23/943)
Kaustubh Palakvyom (MFM/23/696)
Mandeep Singh (MFM/23/1042)
Prakhar Mishra (MFM/23/1096)
Rishi Sisodia (MFM/23/716)
Sakshi sethi (MFM/23/662)
Shingora Textiles
Acknowledgment
Abstract
Keyword
Introduction
Product Category
Swot Analysis
Types of Entrepreneurs
Types of Entrepreneurships
Business Model
Improvements
Conclusion
References
Acknowledgment
We would like to express our sincerest and deepest gratitude to all who guided and assisted us
for the duration of our assignment. To begin with, we are deeply grateful and indebted to Ms.
Lipi Singh(Assistant Professor), and we would like to convey our immense gratitude towards
him for his time, selfless help, and support in helping us learn and getting us through the
learning processes to the best of his efforts and for helping us complete the projects
successfully.
We would like to convey our sincerest appreciation to our CC, Ms. Bharghavee Kumar Iyer
(Assistant Professor) for their guidance and constant supervision as well as for providing
necessary information and most importantly their valuable time and insights.
We also greatly appreciate the support of our fellow batchmates, who have been acting as a
motivation to each one of us. Last but not least we would like to give our sincerest thanks to
all those who helped us during the duration of this internship but whose names could not find
their way into this acknowledgment.
ABSTRACT
Shingora Textiles Limited is a premium brand that produces high-quality shawls, lohis, stoles,
dupattas, squares, hijabs, mufflers, ties, belts, pocket squares, cushions, throws, and travel
blankets. The company was founded in 1976 and is headquartered in Ludhiana, Punjab, India.
Shingora is known for its superior quality and latest designs, and its products can be used by
adults as well as tweens. The company has received several awards and certifications, including
the Mahila Navratna Award by the International Friendship Society in India in 1998,
WoolMark Company’s Award in 2003, and the Best Woman Entrepreneur Exporter Award by
ECGC – Dun & Bradstreet Exporters' Excellence Award. The company has a diversified
product portfolio and a strong brand reputation. However, it faces challenges such as limited
manufacturing facilities and dependence on exports to Japan for a significant portion of
revenue.
KEYWORDS
A Shingora Textile Limited is a manufacturer of premium scarfs, shawls, and a chic home
decor collection.
It is a two-star export house with the SA8000 and Oeko-Tex Compliances and offers the
trendiest designs in the colours of the season and pairs it with traditional weaves and crafts
elegant scarf's from the finest of materials such as cashmere, wool cotton, and silk.
Mission
Vision
Product Categories
● Shawls
● Lohis
● Stoles
● Dupattas
● Squares
● Mufflers
● Ties
SWOT Analysis:
Strengths:
● Shingora has been in the textile industry since 1976 and has earned a reputation for
producing high-quality textiles.
● Diversified product portfolio including shawls, stoles, mufflers, and home decor
items.
● Established market position with a strong brand reputation.
● Certifications for Woolmark, Pure Silk, and Handloom products.
● Semi-integrated nature of operations.
Weaknesses:
Opportunities:
Threats:
Type of Entrepreneurship
Large businesses, Shingora Textile Limited, tend to have a well-established presence in the
market, a significant number of employees, and a wider reach in terms of customers and
operations. They may have multiple product lines, diverse business divisions, and a substantial
market share in their industry.
B2B (Business-to-Business)
B2C (Business-to-Customer)
● Retail partnerships: They partner with high-end retailers and department stores across
India, expanding their reach and brand visibility to a wider customer base.
● Online marketplaces: Shingora Textiles might be present on online marketplaces like
Amazon or Myntra, offering their products alongside other brands.
D2C (Direct-to-Consumer)
● Own website: Their website serves as their primary D2C platform, allowing customers
to purchase products directly, access exclusive offers, and connect with the brand
directly.
● Social media platforms: Shingora actively engages with customers on platforms like
Instagram and Facebook, promoting their products, sharing behind-the-scenes
glimpses, and building a loyal community.
● Collaborations and pop-up shops: Shingora collaborates with other brands or
participates in pop-up events to reach new audiences and create unique shopping
experiences.
● Physical stores: Shingora Textiles has its own flagship stores in major Indian cities,
allowing customers to experience their products firsthand and receive personalised
service.
1. Industry Forces:
a. Stakeholders: Shingora Textiles is a pre-seed funded company as all the capital invested
was by the members of the family and still this ritual is followed as major 4 members
are the managing directors of the company.
b. Suppliers: For every raw material different suppliers are there, the list is as followed :
1. Yarn supplier
● Garg acrylics
● Nahar Industries
2. Dyes and chemicals
● Colortex
● Hutsman
● Premdyes
● Pidilite
c. Competing Services: There are many unique services that are provided by Shingora as a
brand that no other competitor of theirs is offering to survive in the market. These are as
follows:
1. Customisation:
● Made-to-order products: Allowing customers to choose specific sizes,
colors, or patterns for their desired items, exceeding standard size
offerings
● Monogramming or embroidery personalization: Adding initials, names,
or special messages to make products unique and sentimental.
● Mix-and-match options: Enabling customers to create their own bedding
sets or curtain combinations from individual pieces.
● Professional advice on choosing home textiles: Helping customers select
products that complement their existing decor and style.
● Product life cycle extension: Offering repair or upcycling services for
worn-out Shingora Textiles products.
● Recycling programs: Accepting used Shingora Textiles products for
responsible recycling or repurposing.
● Carbon offsetting or tree-planting initiatives: Implementing programs to
address the environmental impact of production and transportation.
2. Community Engagement :
● Collaborations with local artisans or weavers: Supporting traditional
crafts and preserving cultural heritage.
● Charitable partnerships: Donating a portion of proceeds to causes
aligned with the brand's values.
● Hosting workshops or events: Educating customers about sustainable
practices or textile traditions.
d. Potential Competitors:
1. Premium Textiles:
● Fabindia: Renowned for traditional Indian handicrafts and handloom products
with a similar focus on quality and craftsmanship.
● Westside Home: Offers a curated selection of high-end home textiles from
international brands, catering to a similar luxury segment.
● D'Decor: Provides a diverse range of luxury home decor items, including
textiles, with a focus on contemporary designs.
2. Mid-Range Textiles:
● Raymond Home: Offers a good mix of quality and affordability in home textiles,
with a strong brand presence across India.
● Pepperfry: A leading online furniture and homeware platform, selling Shingora
Textiles products alongside other brands in the mid-range segment.
● Home Centre: Another large homeware retailer with a variety of textile options,
catering to a similar price point as Shingora Textiles.
3. Sustainable Textiles:
● Coyuchi: A well-known brand for organic and eco-friendly bedding and home
textiles, with a strong focus on sustainable practices.
● Everest Organic: Offers a range of certified organic home textiles made with
natural materials and fair trade practices.
● Satya Paul Home: Emphasises sustainable materials and traditional Indian crafts
in their home textiles, positioning themselves as a conscious luxury brand.
2. Market Forces
1. Market Segment:
1) Demographic
● Age: Primarily adults aged 30-55, with some potential appeal to younger
generations interested in high-quality and sustainable products.
● Income: Middle- to upper-income individuals with disposable income to
invest in premium home textiles.
● Location: Primarily urban and semi-urban areas across India, with the
potential for online sales to reach geographically diverse customers.
2) Gender
● Women- 95%
● Men- 5%
3) Behavioural Factors
● Purchase on occasions: Look for home textiles for personal use, gifting,
or special occasions like weddings or housewarmings.
● Shopping channels: Likely to shop online and offline, using a mix of
brand websites, e-commerce platforms, and physical stores.
● Brand awareness: May have existing brand awareness of Shingora
Textiles or be attracted by its premium positioning and positive word-
of-mouth.
Shingora's product range extends beyond just handloom sarees and fabrics, offering a diverse
collection of high-quality textiles and stylish accessories for the entire family.
● Shawls and Stoles: They boast an extensive collection of shawls and stoles in
various materials like wool, silk, cotton, and blends, catering to all seasons and
preferences. From warm and cozy winter shawls in rich colors and intricate
designs (think paisleys, florals, and geometrics) to lightweight summer stoles in
vibrant hues and playful prints, Shingora has something for everyone and this
section brings out the maximum demand of almost 50%.
● Dupattas: They are available in a vast array of fabrics, lengths, and
embellishments, they complement sarees, kurtas, and lehengas alike.These are
delicate chiffon dupattas with zari borders, flowy georgette in pastel shades, or
bold silk dupattas with traditional motifs, adding a touch of grace and
personality to every outfit, bringing the demand of almost 5-7%.
● Suit Co-Ords: Shingora has ventured into the realm of ready-to-wear with their
elegant suit co-ords. These pre-matched sets, featuring kurtas, palazzos, and
dupattas, are crafted from luxurious fabrics like cotton and silk blends, offering
comfort and style in equal measure. From classic kurtas with straight pants to
trendy Anarkali suits with flared palazzos, Shingora's co-ords cater to diverse
tastes and occasions bringing the demand by 10%.
● Fabrics: For those who love the creative freedom of DIY projects, Shingora
offers a premium range of fabrics by the meter. They offer a variety of silks,
cottons, linens, and blends, all boasting the brand's signature quality and
intricate designs. Demand for fabric is around 5–10%.
● Men's Accessories: They offer a curated selection of scarves, mufflers, pocket
squares, ties, and belts, crafted from luxurious materials like silk and wool,
which increases demand for sound by 2-5%.
● Home Decor: Shingora brings its textile expertise to the home with a collection
of cushion covers and throws. Made from soft and textured fabrics, these pieces
add warmth and personality to every living space bringing out the demand of
15%.
● Corporate Gifting: They offer a curated selection of stoles, scarves, and cushion
covers, beautifully packaged and personalised, making a lasting impression on
clients and employees alike, which brings demand to around 10%.
3. Switching Cost: There are several compelling reasons why someone might choose to buy
Shingora Textiles products:
4. Revenue attractiveness
● Net Worth has increased by 2.63% from the last financial year.
● Total assets have increased by 1.93%
● Total liabilities have increased by 1.39%
● Operating revenue range lies between 1 crore - 100 crore
● Legacy of over 40 years
● Nearly 20% of country’s shawl exporter
● Pan India presence with 6 exclusive brand outlets and 60 multi-brand outlets
5. Market Issues
● Online competition: E-commerce platforms like Amazon and Flipkart offer a diverse
range of options, increasing competition and requiring Shingora Textiles to adapt their
online strategy effectively.
● Balancing premium image with accessibility: Maintaining their premium image while
ensuring affordability for a wider audience can be a delicate balancing act.
● Rising raw material costs: Fluctuations in the prices of natural materials like cotton and
linen can impact their production costs and profitability.
● Maintaining sample records: Keeping a record of the samples they made for showcasing
the styles. From yarn to fabric to Consumables, all the components play a vital role &
at Shingora, they needed a system that could help them automate everything for
complete management and recording of such events happening at each stage of
production and with each set of sample being produced.
3. Key Trends
2. Capital Market
● Capital type: Unlisted private company
● Authorised share capital : 7.50 crore
● Total paid up capital : 4.99 crore
● Paid up capital : 498.69 lakhs
● Category : company limited by shares
3. Commodities & other resources : Shingora Textiles, known for their high-quality,
handcrafted home textiles, requires a variety of resources and commodities to operate.
These are as follows:
● Raw Materials:
1. Natural fibers: Premium cotton, linen, silk, and other natural fibers are
the backbone of their products. Ensuring ethical and sustainable
sourcing is crucial.
2. Dyes and pigments: Natural dyes and pigments are preferred for their
eco-friendly nature and distinctive colors. Some synthetic dyes might be
used for specific colors or effects.
3. Threads and embroidery materials: Strong, durable threads and
embroidery materials are essential for the intricate handwork and
durability of their products.
4. Additional materials: Depending on their product range, Shingora
Textiles might use other materials like feathers, beads, or wood for
embellishments.
● Production Resources:
1. Skilled labor: Talented artisans with expertise in handloom weaving,
embroidery, and other traditional techniques are essential. Preserving these
skills is a key aspect of their brand identity.
2. Looms and equipment: Traditional handlooms and other equipment are needed
for the production process. Maintaining and upgrading these tools ensures
quality and efficiency.
3. Dyeing and finishing facilities: In-house or partner facilities for dyeing and
finishing fabrics are necessary to achieve their desired colors and textures.
4. Design and development resources: Skilled designers and pattern makers are
needed to create new and innovative designs while staying true to their
traditional heritage.
Business Model Pattern
In such models, companies with robust products or services can amplify their impact by
extending the value creation flow. This extension occurs when the same products or services
serve distinct purposes or utilizations, thereby broadening the company's target audience and
bolstering profitability.
Shingora Textile manufactures shawls, scarves, stoles, and a variety of other products. They
have a multi-faceted business model pattern because, in addition to having two distinct sources
of income, the integration of all the sources involved creates a symbiotic relationship that helps
amplify the profitability of the enterprise.
Business Model Canvas
Key Partnership:
Raw materials
Dyes (Colourtex, Huntsman Corporation, Prem dyes, Eksoy, Fortex, Zydex, Pedilite, Dystar,
Vijol)
When selecting a logistics partner, businesses should consider several factors to ensure that
they choose the right partner that can meet their specific needs. Some of the key criteria for
selecting a logistics partner include:Reliability: The logistics partner should be reliable and
able to meet the business's needs and expectations, including timely and safe deliveries.Safety
management: The logistics partner should have a strong safety management system in place to
ensure that goods are handled with care and delivered safely. Professionalism and reputation:
The logistics partner should have a good reputation and be professional and reliable in their
services. Capability and experience: The logistics partner should have the capability and
experience to handle the business's current and future logistics needs. Costs: The logistics
partner should offer competitive prices without compromising on quality or service.
Geographic coverage: The logistics partner should have a broad geographic coverage and
network to ensure that goods can be delivered to a wide customer base. Industry know-how
and experience: The logistics partner should have experience in the business's industry and
understand its specific logistics requirements. Financial stability: The logistics partner should
be financially stable and have the resources to support the business's logistics needs.
Marketing and advertising partners play a crucial role in helping businesses promote their
products and services effectively. When selecting marketing and advertising partners,
businesses should consider several factors to ensure that they choose the right partners that can
meet their specific needs. Some of the key criteria for selecting marketing and advertising
partners include.Expertise: The partner should have expertise in the industry and understand
the target audience's preferences and needs.Creative capabilities: The partner should have
strong creative capabilities to develop innovative and engaging marketing and advertising
campaigns. Technical skills: The partner should have the necessary technical skills to execute
complex marketing and advertising campaigns across various channels. Reach and influence:
The partner should have a wide reach and influence in the target market, which can help
increase brand awareness and drive sales. Trust and reliability: The partner should be
trustworthy and reliable in delivering high-quality work on time and within budget.
Compatibility: The partner should have a compatible working style and culture, ensuring a
smooth working relationship. Results and track record: The partner should have a proven track
record of delivering successful marketing and advertising campaigns that have resulted in
measurable business growth. Pricing and value: The partner should offer competitive pricing
and provide value for the fees charged.
Key Resources
Textile manufacturing is a major industry, largely based on the conversion of fiber into yarn,
then yarn into fabric. India is one of the most successful countries in the textile industry, with
a thriving textile sector and numerous top textile companies. Some of the top textile companies
in India with fabric manufacturing facilities include Arvind Ltd, Vardhman Textiles Ltd,
Welspun India Ltd, K P R Mill Ltd, and Bombay Dyeing and Manufacturing Company Ltd.
These companies have a strong presence in fabric manufacturing, producing a wide range of
high-quality textiles and garments. They have state-of-the-art manufacturing facilities and are
known for their expertise, creative capabilities, and technical skills in the textile industry.
Online platforms are digital services that facilitate interactions between two or more distinct
but interdependent sets of customers on different sides of the market. These platforms cover
various activities such as marketplaces, app stores, price comparison websites, search engines,
booking platforms, social media, and accommodation-sharing platforms. They can be
categorized into different models, including business-to-consumer (B2C), consumer-to-
consumer (C2C), business-to-business (B2B), and others. Online platforms are a major driver
of innovation and have become essential for activities such as buying and selling goods and
services, finding information, and connecting with others. They have also raised new and
important policy questions. In the context of digital transformation, they play a crucial role in
facilitating exchanges of goods, services, or information and leveraging the community to
provide enhanced value to everyone within the ecosystem.
Customer data and insights are crucial for businesses to understand customer behavior,
preferences, and needs, which can help them make informed decisions and improve their
products and services. There are various sources from which businesses can collect customer
data, including customer service data, product and service reviews, market research, and
website metrics.
A skilled R&D (Research and Development) department requires individuals with technical
expertise, analytical skills, creativity, project management skills, communication skills, and
strong attention to detail. The R&D department requires individuals with strong project
management skills to ensure that resources are managed efficiently, budgets are allocated
appropriately, and project progress is monitored. Communication skills are also essential for
collaborating with other departments and explaining complex technical concepts in a clear and
concise manner. Analytical skills are necessary for analyzing data, identifying trends, and
drawing insights. Creativity is essential for developing new ideas and thinking outside the box
when it comes to solving problems.
Brand partnerships
Retail stores
A retail store is a place of business that sells merchandise in small quantities directly to
customers. Retailers purchase goods in large quantities from manufacturers or wholesalers and
then sell them in smaller quantities to consumers for a profit. Retail stores can take various
forms, including brick-and-mortar locations, pop-up shops, or online storefronts. They are a
crucial component of the supply chain, bridging the gap between manufacturers or wholesalers
and end consumers. Retail stores encompass a variety of types, including department stores,
specialty stores, chain stores, and more, each with unique offerings and experiences.
Key Activities
Basic steps involved in fabric manufacturing. The specific processes used will vary depending
on the type of fabric being made. In addition to these three main stages, there are a number of
other important activities involved in fabric manufacturing, such as Quality control where
Fabric is inspected at each stage of the production process to ensure that it meets quality
standards.Packaging and shipping: Finished fabric is packaged and shipped to customers.
Environmental impact: Fabric manufacturing can have a significant impact on the environment.
Manufacturers are increasingly working to reduce their environmental footprint by using
recycled materials, reducing energy consumption, and minimizing waste. Managing the online
platform. Operating physical stores where they sell the fabrics.
Marketing and advertising play crucial roles in the success of any fabric manufacturer. Here's
a breakdown of their respective contributions:
Marketing
● Market research: Understanding customer needs, preferences, and buying habits helps
in shaping product offerings, pricing strategies, and marketing campaigns.
● Product positioning: Defining the unique value proposition of fabric products and
how they stand out from competitors.
● Branding: Building a strong brand identity that resonates with target audiences and
creates trust.
● Pricing strategy: Determining the optimal price point that balances profitability and
customer appeal.
● Distribution channels: Identifying the most effective ways to reach target customers,
whether through retailers, online platforms, or direct sales.
● Public relations: Generating positive media coverage and building relationships with
stakeholders.
● Social media marketing: Engaging with customers on social media platforms to build
brand awareness and loyalty.
Customer Support
● Responsive and reliable service: Providing readily accessible and efficient channels
for customers to reach out with inquiries, concerns, or feedback. This could include
phone lines, email, live chat, and social media platforms.
● Knowledgeable and helpful staff: Ensuring customer service representatives possess
in-depth knowledge of fabric products, industry trends, and relevant regulations to
provide accurate and timely assistance.
● Proactive issue resolution: Actively addressing customer challenges and complaints in
a professional and empathetic manner, striving to find solutions that exceed
expectations.
● Building trust and loyalty: Prioritizing customer satisfaction by delivering
personalized service, demonstrating transparency, and actively listening to feedback.
Value Propositions
A compelling value proposition is vital for any fabric manufacturer to differentiate itself in a
competitive market. It clearly communicates the unique benefits, features, and solutions your
fabrics offer to specific customer segments. Here's how value propositions play a crucial role
in the fabric industry:
Customer Relationships
Building strong customer relationships is fundamental to success in any industry, and the fabric
manufacturing sector is no exception. Creating genuine connections with your customers
fosters loyalty, drives repeat business, and fuels valuable word-of-mouth recommendations.
Here's how:
● Increased retention and loyalty: Loyal customers are your biggest advocates. Strong
relationships encourage them to stick with your brand and choose you over
competitors.
● Enhanced brand reputation: Positive customer experiences contribute to a positive
brand image, attracting new customers and strengthening your overall market
position.
● Valuable feedback and insights: By building trust and fostering open communication,
you gain access to valuable customer feedback that can guide product development,
service improvement, and marketing strategies.
● Improved sales and profitability: Loyal customers spend more and become a reliable
source of revenue. Building strong relationships paves the way for consistent business
growth.
Channels
Choosing the right selling channels is crucial for any fabric manufacturer to reach their target
customers and maximize sales. The landscape of selling channels for fabric manufacturers is
diverse and evolving, offering a variety of options with their own strengths and weaknesses.
Here's a breakdown of some key considerations:
Traditional Channels:
● Wholesalers and distributors: Partnering with wholesalers and distributors can provide
access to a broader customer base and leverage their established distribution
networks. However, this involves sacrificing some control over pricing and branding.
● Retail stores: Selling directly through retail stores allows for strong brand control and
customer interaction, but requires finding partners that align with your brand image
and target audience.
● Trade shows and industry events: Participating in trade shows and industry events is a
great way to connect with potential buyers, showcase your products, and generate
leads. However, these events can be expensive and require significant investment in
booth design and personnel.
Online Channels:
● E-commerce platform: Establishing your own online store or selling through major
platforms like Amazon or Etsy offers direct control over branding and customer
experience. However, competition can be fierce, and effective marketing strategies
are needed to drive traffic.
● Social media marketing: Utilizing social media platforms like Instagram and Pinterest
can be highly effective for reaching target audiences and promoting your fabrics
visually. Building a strong online community and leveraging influencer partnerships
can further boost brand awareness and sales.
● B2B online marketplaces: Several online platforms cater specifically to B2B
transactions in the textile industry. These platforms can be a valuable source of leads
and connections for manufacturers seeking wholesale buyers.
Hybrid Approach:
Combining traditional and online channels can be a powerful strategy, leveraging the strengths
of each approach. This allows you to reach a wider audience, maintain brand control, and cater
to different customer preferences.
Customer Segments
Identifying and understanding your customer segments is crucial for any business, and fabric
manufacturing is no exception. By segmenting your customer base, you can tailor your
products, marketing, and sales efforts to better resonate with each group, leading to increased
customer satisfaction and sales. Here's a breakdown of some key customer segments in the
fabric manufacturing industry:
Consumer Segments:
Business Segments:
● Retail stores: These businesses require fabrics for different departments like clothing,
home decor, or craft supplies. They rely on reliable suppliers with timely deliveries
and competitive pricing.
● Wholesalers and distributors: This segment acts as a middleman, purchasing fabrics in
bulk and reselling them to other businesses. They prioritize factors like volume
discounts, product variety, and efficient logistics.
● Industrial users: Fabrics are used in various industries beyond apparel and home
decor, such as medical and hygiene products, automotive interiors, and furniture
upholstery. These customers have specific technical requirements and may need
custom-made fabrics or specialized materials.
● Geographic location: Customer preferences and demands can vary significantly across
different regions.
● Price sensitivity: Consider the budget constraints of different segments and tailor your
offerings accordingly.
● Technical knowledge: Some segments may be more knowledgeable about fabrics and
require detailed specifications, while others may need more guidance and support.
Once you've identified your key customer segments, you can utilize this knowledge to:
By effectively segmenting your customer base and adjusting your strategies accordingly, you
can create a stronger connection with your audience, improve customer satisfaction, and
ultimately drive growth and success in the fabric manufacturing industry.
Cost Structure
The cost structure of fabric manufacturing is crucial for any business in this industry to operate
efficiently and maintain profitability. Understanding the various cost components and their
impact on final pricing helps in making informed decisions about resource allocation, pricing
strategies, and cost reduction initiatives. Here's a breakdown of the key cost areas in fabric
manufacturing:
Direct Costs
● Raw Materials: The cost of fibers, yarns, and other materials used in fabric production
forms the largest component of direct costs. Prices can fluctuate depending on market
conditions, sourcing strategies, and the type of materials used (natural vs. synthetic,
organic vs. conventional).
● Labor: Manufacturing processes, from spinning and weaving to dyeing and finishing,
involve labor costs. Wages, benefits, and training expenses for workers contribute
significantly to the overall costs.
● Energy: Fabric production is an energy-intensive process, requiring power for
machinery, heating, and cooling. Energy costs can vary depending on the equipment
used, production methods, and local energy prices.
● Chemicals: Dyes, finishing agents, and other chemicals used in fabric processing
constitute a smaller but important cost component. The choice of chemicals can
impact cost as well as environmental sustainability.
Indirect Costs:
● Overhead Expenses: This category encompasses fixed costs associated with running
the business, such as rent, utilities, insurance, depreciation of equipment, and
administrative expenses. These costs are allocated to production based on different
methods.
● Marketing and Sales: Expenses incurred to promote and sell fabrics, including
advertising, trade shows, sales team salaries, and commissions, fall under this
category. Effective marketing strategies can positively impact sales but contribute to
overall costs.
● Distribution and Logistics: Costs associated with transporting finished fabrics to
customers, including warehousing, packaging, and shipping, add another layer to the
cost structure.
Understanding Cost Drivers:
● Cost analysis and identification of cost drivers: Regularly analyzing cost data helps
identify areas for improvement and potential cost reduction opportunities.
● Supplier negotiations and sourcing optimization: Building strong relationships with
suppliers and exploring alternative sourcing options can lead to competitive prices.
● Process optimization and waste reduction: Implementing lean manufacturing
principles and minimizing waste at each stage of production can contribute to
significant cost savings.
● Investing in efficient technology: Upgrading equipment and using automation can
improve efficiency and reduce labor costs in the long run.
● Effective inventory management: Optimizing inventory levels can minimize storage
costs and avoid potential losses from overstocking.
Revenue Streams
Fabric manufacturers have a variety of options when it comes to generating revenue, and the
optimal mix can depend on factors like target market, product portfolio, and business goals.
Here are some key revenue streams for fabric manufacturers to consider:
Product Sales:
Value-Added Services:
● Fabric Finishing Services: Offering dyeing, printing, or other finishing services adds
value to raw fabrics and can attract customers seeking a one-stop solution.
● Design and Development Services: Collaborating with clients on custom designs,
color palettes, and textures can be a lucrative revenue stream for manufacturers with
strong design capabilities.
● Technical Support and Consulting: Providing expertise and consultation on fabric
properties, performance, and applications can be valuable for businesses using fabrics
in complex products.
● Sustainability Programs: Offering organic, recycled, or ethically sourced fabrics and
certifications can attract environmentally conscious customers and command
premium prices.
The optimal mix of revenue streams will depend on your specific business goals, target market,
and capabilities. Consider factors like:
● Profitability: Analyze profit margins of different options and prioritize those that offer
the best return on investment.
● Market potential: Assess the demand for different revenue streams within your target
market and focus on areas with growth potential.
● Resources and expertise: Evaluate your available resources and expertise to ensure
you can effectively offer and manage chosen revenue streams.
● Scalability: Choose options that can grow with your business and adapt to changing
market conditions.
By carefully considering these factors and experimenting with different revenue streams, fabric
manufacturers can build a diverse and sustainable business model that drives long-term growth
and success.
Operational Excellence.
Quick adoption
New technology refers to the rapid and widespread acceptance and use of innovative
technologies by individuals or organisations. It involves embracing and integrating new
technological solutions into existing processes and systems. Quick adoption is essential for
staying competitive, driving efficiency, and capitalising on the benefits of emerging
technologies. It requires proactive change management, effective communication, and a clear
understanding of the value that the new technology brings. Organisations that can achieve quick
adoption of new technologies are better positioned to leverage the potential benefits and gain
a competitive edge in their respective industries
Technical development
Technical development refers to the process of creating and improving technical solutions, such
as products, services, or systems, using advanced technology and engineering principles. It
involves the use of highly efficient technical means to ease mental labour and increase
productivity. Technical development can encompass a wide range of activities, including
research and development, design, testing, and implementation of new technologies. It is a
critical aspect of innovation and progress in various industries, including manufacturing,
healthcare, and information technology. Technical development can also involve the creation
of custom machinery, precision winding, and UV curing equipment, among others.
Lean management
Effective leadership
Encompasses the ability of a leader to execute a company's vision and create a work culture
that allows employees to contribute. It involves several characteristics, including the ability to
influence others, transparency to an extent, encouraging risk-taking and innovation, bringing
positive energy, a willingness to listen, and recognizing the potential and value in other people's
ideas. Effective leaders also need to be decisive, collaborative, and able to work with others to
bring ideas and projects to fruition. Leadership is the accomplishment of a goal through the
direction of human assistants, and to be successful, leaders must understand that people are
complex and different.
● Track and trace recycled input materials: Shingora Textiles follows the supply chain
of their materials, ensuring that they are sourced from responsible and sustainable
sources.
● Reduce the impact of production on people and the environment: The company is
committed to minimising untreated waste and focusing on sustainable practices
throughout their production process.
● Provide assurance of recycled and processed materials: Shingora Textiles ensures
that the materials in their final products are indeed recycled and processed more
sustainably.
● Focus on import replacement: Shingora Textiles aims to replace key imports, such as
nylon fabrics, with specialised fabrics that promote global competitiveness and
sustainable practices.
● Transparent supply chain: Since 2014, Shingora Textiles has been working to create
a transparent supply chain that ensures sustainable practices from the production of
their raw materials through to the final product.
● Certifications and standards: Shingora Textiles has obtained certifications such as
the Global Recycled Standard (GRS), Global Organic Textile Standard (GOTS) and SA
8000:2014(Social Accountability), demonstrating its commitment to environmental
and social standards.
● Minimising untreated waste and treating water: The company focuses on
minimising untreated waste and ensures that all water released from its facility is
treated.
The main challenges faced by Mridula Jain, the entrepreneur behind Shingora Textiles,
included overcoming initial scepticism and investing in technological advancements. When
Mridula suggested importing expensive machines and textile designing software, her ideas
were initially met with scepticism. However, she believed in her vision and financed these
proposals, which ultimately led to the significant growth of Shingora Textiles. One of the
significant challenges faced by Shingora Textiles was keeping a record of the samples they
made for showcasing the styles. This challenge was resolved through the implementation of a
sampling feature, which allowed the company to track and store sample details, leading to a
decrease in wastage and unforeseen losses. Additionally, the small scale of operations and
susceptibility of profitability margins to foreign currency fluctuations have been identified as
constraints for the company.
During its earliest days, Shingora Textiles faced several challenges, including keeping records
of samples, government regulations, balancing responsibilities, and marketing and promotion.
The company faced difficulties in maintaining records of the samples they created for
showcasing styles, which was resolved through the implementation of a sampling feature. The
use of power looms for textile production in India was restricted by law, and Shingora Textiles'
founder, Mridula Jain, along with representatives from the Wool Association and Shawl Club,
worked to change the law, which allowed the import and use of power looms. Mridula Jain
faced challenges in balancing her responsibilities as a woman entrepreneur and her role as a
wife and mother. Shingora Textiles initially relied on Mridula Jain and her husband's efforts to
market and promote their products, which eventually led to the company's growth and success.
While specific details on other challenges faced by the entrepreneur in Shingora Textiles during
its earliest days as a retailer are not explicitly mentioned in the provided sources, it is evident
that Mridula Jain's journey involved overcoming various obstacles and investing in innovation
and resilience to build Shingora Textiles into a leading brand in the woollen fashion industry.
Shingora Textiles, a company committed to sustainable practices, has already made significant
strides in this area. To further improve its business with respect to the market and sustainable
practices, Shingora Textiles could consider the following:
Market Improvement
● Market Trends Analysis: Conduct a thorough analysis of current market trends in the
textile industry, including consumer preferences, demand for sustainable products,
and emerging market segments.
● Competitor Analysis: Evaluate the strategies and offerings of competitors in the
market to identify areas of opportunity and potential differentiation.
● Consumer Preferences: Gain insights into evolving consumer preferences, especially
regarding sustainable textiles, to align product development and marketing strategies.
Sustainable Practices
By focusing on these areas, Shingora Textiles can further strengthen its position in the market
while upholding its commitment to sustainable practices.
Conclusion
Shingora Textiles is a renowned entrepreneurship and sustainable brand in the textile industry.
The company has been committed to sustainable practices, innovation, and excellence in its
products and services. Some key aspects that highlight Shingora Textiles as a successful
entrepreneurship and sustainable brand include:
● Quality and Variety: Shingora Textiles offers a wide range of high-quality textiles,
including fabrics, accessories, home textiles, and woven technical textiles.
● Sustainable Practices: The company is a European Flax certified company and has a
Global Organic Textiles (GOTS) 5.0 certification. Shingora Textiles is committed to
protecting ecosystems through best cultivation practices, certifying traceability
through each stage of production, and offering consumers added value.
● Market Presence: Shingora Textiles has a strong market presence in India, with six
exclusive brand outlets and more than 60 multi-brand outlets across the country. The
company has a satisfactory overall solvency position, healthy profitability margins,
and a diversified product portfolio.
● Awards and Recognition: Shingora Textiles has won several awards, including the
Mahila Navratna Award by the International Friendship Society in India, the
WoolMark Company’s Award, and the Award of Honour on International Women’s
Day.
● Innovation and Digital Transformation: Under the leadership of Mr. Amit Jain,
Shingora Textiles has embraced innovation and digital transformation, introducing a
multi-currency eCommerce solution, CRM integration, and an eCommerce portal for
overseas sales.
● Global Reach: Shingora Textiles is well-received in countries like Germany, Holland,
Switzerland, and Japan, and is exploring new markets to expand its reach.
● Shop Trendy Suit Co-Ords, Shawls, Dupattas, Mufflers and Stoles Online. Retrieved
https://shingora.net/pages/about-us
● Amit Jain | MD, Shingora Textiles| Building a brand in India. (2018, November 3).
https://www.youtube.com/watch?v=oEad0ZtZLJg
● Jain, A. . Amit Jain - CEO and Founder - Shingora Technologies LLP. LinkedIn.
● Jain, A. . Anuj Jain - CEO - Shingora Textiles Ltd. LinkedIn. Retrieved December 17,
of-shingora-best-woman-entrepreneur-exporter-2015/
of-shingora-best-woman-entrepreneur-exporter-2015/
https://shingora.net/pages/our-story
entrepreneur-woolen-fashion-industry-shingora