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XSTOK, the online platform makes fabric sourcing easier

B2B online platform XSTOK was launched to assist small dealers and garment manufacturers from across the country, who found it difficult to source fabrics at reasonable rates in a cluttered unorganized market. The e-auction platform founded by Sanjiv Khandelwal and Mihir Shah was launched in January 2015. Since its launch the firm has managed to complete 18 auctions with a transaction value of Rs 1 crore within two weeks. The suppliers for the auction included textile manufacturers such as Garden Vareli, Bombay Dyeing, denim maker Arvind, and towel manufacturer Welspun group.

The ecommerce start-up helps in creating a network of buyers and sellers and also matches supply and demand. XSTOK runs the model by charging buyers an initial registration fee and suppliers a transaction fee of 3-5 percent on each successful transaction. The average price bracket of auctioned goods varies from Rs 1.5 lakh to Rs 10 lakh, depending on the consignment. The firm already boasts of 2,500 buyers and 100 suppliers on its platform.

www.xstok.com

 
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