Sometimes change goes un-noticed, so does innovation. When it comes to business it is even more evident. If an Ambani or a Birla or a Mittal, nah… I don’t have to go into hypothesis for there is an excellent example of the recent past. TATA and the nano car. Lots of articles and lots of opinions on the car and a huge hue and cry about it.
Now think of a co-operative society in the remoteness of Tamil Nadu. Would you like a “nano” like concept from any of these villages, and more so will you endorse it? Can you imagine that the society churned out incredible sales and also made a turnover of more than 50% YoY. Even more mind blowing is the product – ties… silk ties and you can imagine from where – from the district of Kancheepuram.
Kancheepuram is known for its weaving and looms. Kancheepuram silk saris are a must have for any Indian woman and is also quite a range globally. And it caters to all budgets… from a meager thousand to a couple of lac rupees. On an average it’s about a 40 crore rupee industry in the districts, and makes almost three times that when it comes to selling prices in the showrooms. And as always any woman looks gorgeous in an authentic Kancheepuram.
So what could be the innovation in business here with ties? Silk ties… are a rage. Having seen my father and his collection of ties, it is no wonder that the co-op is striking gold. A silk tie is one of the male essentials. Of course some of you may disagree stating climatic conditions, but you have indeed, possessed one of it. The engineering college I went to have a rule that male students had to dress in formals, inclusive of ties, when representing college. And then if you went to a business college, you definitely had more than one of it. And if you work in a corporate with a dress code, then you obviously had a handful of ties. (Having worked for a company, with relaxed dress code, I have learnt that dress code is necessary –they make the others who Have to see you, more comfortable 🙂 )
And if you price ties in the 400-500 you obviously get the whole lot of people of use the ties, compared to the “brands” which price them at around 800+. Quality!?!? – Its from the handlooms of Kancheepuram, anyone who knows about the tradition and is aware of the reputation would not think twice.
Why writing about all this now, you ask? Well its just guilt. My father happens to visit the University in Kancheepuram one weekend of every month, and I got to know of these happenings through him as this was an example case study. And more so, his love for the accessory has developed into a collection of ties from various parts of the world, one even from Kancheepuram. It never struck me that I like many others, did not pay attention to the smaller innovational changes in the world, until it got published in the news paper this morning. Shame on me!