After digitising the silk value chain, the business-to-business (B2B) textiles supply chain start-up ReshaMandi has diversified into cotton while eyeing other natural fibres such as jute, wool and linen to expand its operations. Launched in 2020, the Bengaluru-headquartered start-up said it has turned EBITDA positive during the October-December quarter of the current financial year and is aiming to achieve a break-even over the next two to three quarter, said Mayank Tiwari, Founder and CEO, ReshaMandi.
The company, which clocked a revenue of ₹20 crore in its first year of operations in 2020-21, saw its turnover soar to ₹415 crore during 2021-22. In the current financial year, till December-end the company’s revenues have touched ₹1,000 crore on robust growth in its portfolio, Tiwari said.
R&D for own fabric blends
Over the past 8-9 months, ReshaMandi has diversified into the cotton supply chain and is working with farmers, ginners, spinners, textile mills and corporate brands among others. The company has taken up the research and development to come up with its own fabric blends for various fibres, while launching its own private label textile products.
ReshaMandi, Tiwari said, has seen good traction for its cotton value chain business and is working with over 25,000 cotton growers, over 50 spinning and textile mills and retailers among others across Tamil Nadu, Maharashtra, North Karnataka and Rajasthan among others.
The cotton business accounts for about 35-40 per cent of ReshaMandi’s revenues, while the silk value chain contributes to around 30-35 per cent. Across the natural fibre supply chain including silk and cotton, ReshaMandi works with over one lakh farmers, 10,000 silk reelers, 17,500 weavers and over 18,500 retailers helping them improve productivity and boost their bottom lines through technology adoption. ReshaMandi has recently expanded its operations globally to West Asia, Europe, North and South America, and South-East Asia to replicate its successful Indian model. It has supplied over 10 million metres of natural fibre fabric to 500 plus domestic fabric, apparel and home furnishing manufacturers and exporters.