Learn how CredAble’s working capital solution helped this textile manufacturing company gain a secure credit system.
We’ve all heard of the adage ‘Entrepreneurship is nothing but a growth engine disguised as a business pursuit’, and yet very rarely do we see this play out. For Akash, a first-gen entrepreneur, 5 years is all it took to go from a fitness / dance instructor to a budding entrepreneur running a kids’ wear company. We spoke to Akash about his journey and what he thinks of India’s ever-growing textile industry.
AV Apparels is the youngest company in the list of Indian’s growing textile industry. Established in 2015, the company started directly with e-commerce and focused primarily on kids’ wear. Founded by people from very different backgrounds, we spoke to Akash, one the founders about how AV Apparels came to be and what he’s learnt in the past 5 years.
Akash is very upfront about revealing that he had no experience in this domain whatsoever and learnt on the job thanks to the expertise of his partner, who had managed the export accounts for a manufacturing company. As for Akash, he was primarily into performing arts and fitness and was entirely new to the world of garments. When asked about what incentivized them to begin AV Apparels, he says:
The need for clothing is universal. Globally, the maxim: Roti, Kapda, Makaan (Bread, clothes, shelter) holds true. As for India, even if adults aren’t particularly interested in buying clothes frequently, they spare no expenses when it comes to their kids. This predisposition for spending on kids’ wear, coupled with India’s young population presents a perfect opportunity for companies like ours.”
Founder, AV Apparels
Akash also remarked on how difficult it was initially. “From 2015 to 2017, it was just the two of us. We intended to start small, but very quickly realized that the demand was huge and that we’d need a bigger team.” With increased demand, came increased working capital requirements, which eventually began to throttle growth. As Akash put it:
“For any business, lack of capital remains a perennial problem. A lack of capital meant that we couldn’t take up more orders even if we wanted to.”
Thankfully, for them, CredAble was able to ease cash flow and put their working capital worries to rest. They could now take more orders and could grow further. After having availed CredAble’s services repeatedly, he says that they’ve come to trust CredAble and that it’s helped them have a secure credit system. For Akash, CredAble helped majorly with procuring working capital. As he put it:
CredAble has been instrumental in helping us meet our working capital requirements. I for one, would definitely recommend all vendors in the textile space who are facing working capital problems to give CredAble a shot.”