Co-optex earns Rs 280 crore in 2018-19

Coimbatore: Despite 20% drop in its number of weavers in the last five years, the Tamil Nadu Handloom Weavers’ Co-operative Society – Co-optex – has managed to increase its sales and revenue in recent times.
The society has earned Rs 280 crore through retail sales and Rs 30 crore through contract sales in the financial year 2018-19.
Managing director of Co-optex TN Venkatesh said society has set a target of Rs 300 crore through retail sales and Rs 50 crore through contract sales in the current financial year.
He was speaking to the reporters after introducing a new range of saris which the co-optex has designed in association with designers from the National Institute of Design (NID) in Ahmedabad for its summer sales.
“Every year, we organize 50 exhibitions across the country between April and July. This year, we have already conducted 10 exhibitions. Last year, we had made revenue of Rs 20 crore through exhibitions. This year, we have targeted to achieve Rs 30 crore,” he added.
Stating that there is a threat to handloom weaving from powerloom, he said the percentage of weavers working with Co-optex has come down by 20% in the last five years. At present, over 50,000 weavers across the state are working with society. Most of the weavers are from western districts of the state like Coimbatore, Salem, Tirupur and Namakkal.
“To assist the weavers in matching themselves to the market needs, we have been giving regular training especially in colour palette and to understand the taste of the market. A lot of young designers from reputed institutions were made to do projects with society to make innovative designs. Also, weavers were taken on field visits to different states like Orissa, Andhra Pradesh and West Bengal where the handloom weaving is intense for exchange of ideas. It is only after such a visit, we have developed ikkat designs,” he said.
“We have been providing incentives to weavers who weave chedi butta saris and Kanchi cotton saris as these two varieties are gradually becoming extinct in the market. Society provides 40% of the price of a sari as wage to the weavers,” he added.