Exports wasn’t Anil Peshawari’s forte. But in 1999, this chartered accountant decided to take the plunge and start a garment export business. Come today and he has been successful in establishing Meenu Creation, a 100% export-oriented company that boasts of an annual turnover of Rs.300 crore. In an interaction, Peshawari shares lessons that experience has taught him and other thoughts on textile exports business.
TDB: You have been in the business for almost 19 years. How did you start?
Anil Peshawari (AP): In the 1990s, I was a chartered accountant and some of my clients were into the business of garment exports. Taking a lead from them, in 1999, I started my own business. Initially, it was a small setup with about 25-30 workers and 40 sewing machines. Luckily, we received our first export order from Stradivarius, a clothing company based in Spain. They ordered women wear worth Rs.2 lakh. This gave me confidence and, gradually, we ventured into other European markets, followed by the US market. In the first year our turnover was Rs.35 lakh and in FY2016 we clocked a turnover of Rs.290 crore.
TDB: Considering the unpredictability of business environment in US and EU, do you plan to explore new markets?
AP: No, we are focused on expanding our presence in US. However, I must mention that South America looks interesting. The only reason why we aren’t tapping into South America is because they are finding it difficult to import products from other countries, which is a direct impact of their currency devaluation. Also, they are trying to manufacture either within the country or procure from neighbouring countries with whom they have trade treaties.
TDB: What about currency fluctuations in India and China?
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