An exclusive interview with Rohit Dev Sethi, Managing Director of ColossusTex, a visionary platform that has set its sights on revolutionizing the textile industry by offering innovative and efficient solutions in textile supply chain management.
In the dynamic landscape of the textile industry, where innovation is the key to sustainable growth, ColossusTex emerges as a pioneering force under the visionary leadership of Rohit Dev Sethi, the Managing Director. As the helm of ColossusTex, Sethi brings a wealth of experience and a forward-thinking approach that has propelled the company into the forefront of the textile supply chain management sector.
Focused on revolutionizing traditional practices, ColossusTex stands as a testament to Sethi’s commitment to pushing boundaries and reshaping the industry through cutting-edge solutions. In this interview, we delve into the insights and perspectives of Rohit Dev Sethi, exploring the journey of ColossusTex and the innovative strategies that are steering the textile industry into a new era.
Could you provide an overview of ColossusTex and the innovative solutions it offers in textile supply chain management?
Rohit Dev Sethi: ColossusTex is a forward-thinking company that aims to revolutionize the textile industry through a comprehensive range of services. We offer a diverse set of solutions to address various aspects of the textile business, including consulting, logistics, information provision, and marketing. Global presence, extensive network, and a focus on maximizing the potential and profitability of textile organizations is what set us apart from other players operating the organisation. Here’s a brief overview of our core products and services:
- ColossusFind: ColossusFind is your go-to marketplace app. Buyers can easily post their requirements, while sellers can effortlessly publish their products for sale. It’s a platform where the entire buying and selling process is made seamless.
- ColossusGrow: ColossusGrow is all about nurturing innovation. Companies can showcase their innovative products, and we provide the growth they need. Our network and free subscriptions are the keys to propelling your business forward.
- ColossusDeal: ColossusDeal is your solution for dealing with non-moving stocks, idle machinery, and unutilized resources. We help you liquidate these assets, turning them into value for your business.
- ColossusMove: It simplifies logistics. Customers can easily obtain rates and confirm logistics contracts with our platform. ColossusMove is the solution provider for all things logistics.
- ColossusMind: ColossusMind keeps you updated with industry news, global policies, and price trends. It is the source for brands to stay informed, so that they can make well-informed business decisions.
- ColossusTech: It provides technical assistance to global clients, helping them reduce wastage and improve inspection processes.
- ColossusMeet: ColossusMeet is a platform where business leaders share their professional journeys, and the community exchanges views for maximizing and streamlining business. It’s the place to connect, learn, and grow.
- ColossusCare: It is a talent acquisition partner. Through ColossusCare, company’s can find the appropriate talent and connect with experts to meet their business needs. These services collectively provide a comprehensive solution for textile businesses, enabling them to improve their operations, connect with the right partners, and stay competitive in a rapidly evolving industry.
- ColossusEDGE: It is an innovative and forward-thinking financial platform that offers a range of services aimed at enhancing B2B trade and supporting the financial needs of businesses. One of its core features is the seamless onboarding of B2B partners, simplifying the process and allowing for efficient collaboration. Additionally, it empowers businesses by providing generous credit lines of up to 330 days, fostering flexibility and liquidity. This extended credit period is particularly advantageous for MSMEs and mid-sized corporations, enabling them to leverage the sanctioned CTMONEY for their raw material procurement and other necessary purchases. ColossusEDGE is driving financial inclusivity and efficiency, making it a valuable partner for businesses of all sizes in their trade endeavors.
The textile industry is known for its complex supply chain. What inspired you to focus on revolutionizing this sector, and how does ColossusTex aim to streamline and improve it?
Rohit Dev Sethi: After dedicating more than 12 years to the textile industry, with experience spanning various sectors such as yarn spinning, fabric manufacturing, garment production, and distribution, I’ve come to realize that many companies in this field face a common set of challenges. These challenges have kept the textile industry as a low-margin business with substantial uncertainties.
My inspiration draws from the success of new-generation mobile app solutions in more complex sectors like transportation, food delivery, and finding specialized technicians. I firmly believe that if we can provide a swift and effective solution to mitigate these challenges for companies and employees in the textile industry, it will significantly enhance the industry’s global performance.
We at ColossusTex provide textile industry a comprehensive range of services. We offer a diverse set of solutions to address various aspects of the textile business, including consulting, logistics, information provision, and marketing. Our key USP includes Global presence, extensive network, and a focus on maximizing the potential and profitability of textile organizations.
Could you share some of the specific challenges that textile supply chain management faces today and how ColossusTex addresses these issues?
Rohit Dev Sethi: Every service is committed towards solving a problem hence each service is aimed to have the solution such as Find an economical and effective raw material, growing the business by publishing the finished goods using a common network, Getting deals for the non-moving goods or ageing inventories and so on.
Example 1: A fabric producer is usually not aware about the right selection of yarn being used in innovative fabrics which keeps them continues producing the low margin and tradional products in spite of a fact using the same machine they can produce range of products.
In 2018 flat knitting industry was shrinking due to reduced demand of sweaters, by introducing new raw materials and yarns we got a change for the industry where companies converted their business lines from garments to shoes industry and today over 9000 new machines were installed whereas industry was dying
Example 2: Many finished product manufacturers have challenge of marketing and fund management, we loop in and help them generate new leads and also help them in PO financing and even match the credit terms required by the end buyer which enables MSME’s to expand their wings globally with the wide spread network of Colossustex.
In what ways does ColossusTex leverage technology and innovation to provide efficiency and transparency in textile supply chain management?
Rohit Dev Sethi: Colossustex is having a unique service named ColossusMIND which is focused on providing updates on technology advancement in the field of textiles i.e process, raw material etc which contributes to optimizing the efficiency of the factories operating with lower speeds and high rejections.
A small change or technological advancement in textiles can help boost productivity by more than 20-35%. Through colossus mind we give update of global prices and its trend analysis with national and international news to keep the viewers updated enables them to take appropriate actions about their purchase and sales decisions.
We also give updates about the new innovative products which gives brings awareness to adapt new technology and available products.
What sets ColossusTex apart from other platforms or solutions in the textile supply chain management space, and what are its key differentiators?
Rohit Dev Sethi: By employing state of the art technology, effective sourcing and assertive marketing, our experts strive to provide you with the best outputs in these experientially led times. Over the collective experience of 25 years, our team has built niche across various verticals of the textile industry. With global establishments in 7 countries and clientele in more than 35 nations, we stand tall with a close-knit community of manufacturing partners, buyers and service providers.
While we provide exemplary services, we have obtained empowering customer testimonials. Our promise is to deliver high end quality, robust logistics management and cost optimizations that channelize into an unforgettable consumer journey.
Our key USPs that differentiate us from other players are as follows –
- Effective Sourcing: We offer effective sourcing of raw materials and finished products. The company has a well-established network and the ability to find the best sources for their clients, potentially resulting in cost savings and quality improvements.
- Expertise: ColossusTex team has 25 years of collective experience in the textile industry, which includes working across various verticals. This expertise helps us to provide valuable insights and solutions to the clients’ specific needs.
- Global Presence: With establishments in 7 countries and clients in more than 35 nations, ColossusTex emphasizes its global reach. This widespread presence allows us to tap into diverse markets and resources, potentially offering unique advantages to our clients.
- Transparency: Our commitment to transparent trade policies and the use of advanced analytics showcases a dedication to accountability. This is an attractive feature for our clients who want clear and reliable business partnerships.
- Sustainability: ColossusTex also underscores its commitment to sustainability. This is a growing concern in many industries, including textiles, and our company’s ability to provide sustainable goods and services set us apart from competitors.
- Cost Optimization: The promise of cost optimization is an important factor for clients looking to reduce expenses and improve profitability. Our emphasis on cost-effectiveness focused on delivering value to their clients.
- Robust Logistics Management: Our robust logistics management system highlights our capability to efficiently manage the movement of materials and products, which is crucial in the textile supply chain.
ColossusTex appears to be a global platform. Can you share insights into the international scope of the platform and how it caters to businesses across borders?
Rohit Dev Sethi: ColossusTex has strategically established its own offices in key locations, including India, China, Vietnam, Uzbekistan, Turkey, and Singapore. This extensive presence allows us to serve customers in over 35 countries and build a network of dedicated partner agents who represent our products in each destination.
We are actively engaged in major textile events and exhibitions worldwide, which further strengthens ColossusTex’s global presence. Additionally, we have operational warehousing facilities in three countries, ensuring easy access to our value-added and specialized products for local customers.
Our presence in Singapore, a prominent financial hub in Asia, positions us to provide continuous and robust support to our valued customers. ColossusTex’s core philosophy is rooted in global accessibility, sustainable trade practices, and proactive marketing. As we continue to expand our global footprint, our goal is to set higher standards each year.
The textile industry is known for its traditional practices. How has the industry received the innovative solutions offered by ColossusTex, and how have you worked to bring about change in this space?
Rohit Dev Sethi: The textile industry, traditionally rooted in age-old practices, has been somewhat resistant to change. However, ColossusTex has managed to make a significant impact by introducing innovative solutions. We’ve worked diligently to bridge the gap between tradition and modernity.
Our approach has been two-fold. First, we’ve introduced cutting-edge technologies and sustainable practices to enhance efficiency and reduce the environmental footprint of textile production. By embracing automation, artificial intelligence, and sustainable materials, we’ve helped the industry streamline operations and reduce its impact on the planet.
Second, we’ve fostered collaboration within the industry. We’ve actively engaged with manufacturers, designers, and other stakeholders to promote the adoption of these innovations. By providing education and support, we’ve enabled traditional textile businesses to adapt and thrive in the evolving market.
In doing so, ColossusTex has not only brought about change but has also paved the way for a more sustainable and forward-thinking textile industry. We are committed to redefining the industry’s future by harmonizing innovation with tradition, improving product quality, and minimizing the ecological impact. This approach ensures a more resilient and competitive textile sector while preserving its rich heritage.
For businesses or professionals who are considering utilizing ColossusTex, what advice or insights would you offer to help them make the most of the platform?
Rohit Dev Sethi: Engage more on our upcoming platform as it has all abilities to maximize the efficiency of all operating functions which contributes in overall growth.
What is your success tips for young and aspiring entrepreneurs
Rohit Dev Sethi: My suggestion to all new entrepreneurs who aspires to start a venture in the textile industry to –
- Address a problem you’ve personally encountered as a consumer.
- Introduce fresh concepts at least twice a year to stay innovative.
- Place a greater emphasis on functional textiles.
- Dedicate relentless effort until you attain your goals.
In conclusion, our conversation with Rohit Dev Sethi, the astute Managing Director of ColossusTex, has offered a compelling glimpse into the transformative journey of the company within the textile industry. Sethi’s visionary leadership and commitment to innovation have positioned ColossusTex as a game-changer, redefining the landscape of textile supply chain management.
The fusion of forward-thinking strategies and a deep understanding of industry dynamics has allowed ColossusTex to create a blueprint for success, setting new standards in efficiency and sustainability. As the textile sector evolves, ColossusTex, under Sethi’s guidance, stands poised to continue its trailblazing efforts, inspiring change and revolutionizing the way we perceive and manage textile supply chains.
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