While most mill-owners were yet to see the wonder that bamber could do Dhirubhai was quick to see its attractive features for saris and dresses. He took the next flight to Japan and booked a big huge lot of bamber filament for import. By the time his first bamber shipment arrived, the first few mills that had made saris and dress materials from the wonder filament were overwhelmed by the craze customers were showing for the new-look fabric.
Dhirubhai's first bamber lot sold like the proverbial hot cakes at a big premium. Over the next few months Dhirubhai had the chamki market in his grip. As the demand for chamki soared, so did Dhirubhai's profit. That was where the first big flush of capital for the future Reliance Textiles came from.
Another big flush came from a government scheme in the mid-sixties for import of nylon yarn, then much in demand, against export of rayon fabrics.
Rayon, commercially developed by Sears in in America, had been made in India since and was used mainly for saris. Rayon was used for making other fabrics too. Excise duty on rayon was low and, with low Indian labour costs, rayon fabrics could be sold at competitive prices in the overseas markets.
Nylon was developed in in Germany and about the same time in America. Nylon's advent created a revolution in several consumer industries, especially in fibres and fabrics. Nylon was a synthetic fibre, the first to be drawn entirely from petrochemical, whereas rayon was derived from a natural source, plant cellulose. In the s nylon was just coming into fashion in India, though in America it had gained respect a decade earlier. Nylon was not yet being produced in India and, as a craze for nylon fabrics, was growing in the country, it had to be imported at a considerable outflow of foreign exchange that was becoming increasingly scarce from the middle of the s.
Also, smuggling of nylon from neighbouring countries was growing menacingly. Because of these reasons, the government went in for the nylon for rayon scheme.
Although the government scheme for import of nylon against export of rayon was a common knowledge, again Dhirubhai was the first to make use of it in a big way.
He took to export of rayon fabrics in right earnest. Once again his Aden contacts came in handy. A lot of textile exports from India as also yarn imports were routed through Aden. Dhirubhai made the best use of his Aden connections. As in spices, so in rayon fabrics too he was quick in delivering orders. He also began seeding new markets in Eastern Europe that would prove to be of immense potential when he would launch himself into textiles a few years later.
Dhirubhai was mostly outsourcing rayon fabrics those days. Outsourcing was a headache. Also, Dhirubhai felt that the nylon for rayon scheme might not last for long. He was making big money selling nylon yarn but he felt that he could make a lot more money if, instead of selling the yarn to mills, he himself converted the yarn into the material.
The nylon craze was fast spreading from big cities to small towns and villages thanks to Mumbai films. So, he began playing with the idea of establishing his own independent manufacturing unit. He had built enough capital during trading in yarn to be able to launch himself into the new orbit of manufacturing. That was his first major step towards what would later come to be hailed as his farsighted strategy of "backward integration. During the seven years between and , Reliance Commercial Corporation RCC kept growing as more and more of Dhirubhai's friends and colleagues joined him.
Most of them were from Aden where word had reached that Dhirubhai had done well in life and had a growing business of his own. Therefore, everybody returning home from Aden and looking for a job in Mumbai sooner or later landed at his door. He put them on to whatever job they were good at. Most of them had little or no formal education. Only a few were matriculates and just two or three had had a college education, of whom one was a chartered accountant. Call us now!
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Accounting Manager. Key Account Manager. Sales Manager. Logistics Manager. Sarra Madouri. Marketing Specialist. Jun 18 Jun 2 May 30 May 16 May 12 So invest time and resources to get to know cotton. Having a relevant educational and professional background This is, in a way, an extension of what we just talked about in the first section. Having a relevant educational and professional background will help you take more informed decisions about your business and customers.
Working there will give you a thorough understanding of how cotton yarn trading actually takes place in the real world. Believe it or not, the way you dress up, the way you approach a potential customer, the way you present your deal, every single thing matters. And this is something you have to learn as early as possible. There are several institutes that offer communication, selling, and other behavioural courses that you can take up and improve your people skills.
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