Texcoms’ Textile Auction Turns Asset Liquidation Into a Win

Transforming Textile Asset Liquidation: The Game-Changing Power of Textile Auctions

Introduction

Textile Auction, an initiative by Texcoms Worldwide, is the world's leading auction platform dedicated to the textile industry. It focuses on refurbished textile machinery, connecting buyers and sellers across the globe. Known for its transparency, reliability, and commitment to delivering the best value, Textile Auction has become the trusted choice for major industry players. With a customer-first approach, it has transformed the way assets are liquidated in the textile sector.

The Challenge

Aditya Birla Century, a well-known leader in the textile industry, faced a tough challenge: liquidating a large volume of machinery from its Bharuch facility efficiently and at the best possible value. The assets included:

• Spinning Machinery: 75,000 spindles.
• Weaving Machinery: Over 300 weaving machines, including advanced rapier and air jet looms.
• Processing Equipment: High-value production units.

The goal was to get maximum returns from these assets using a process tailored to the textile industry. Traditional methods, however, weren’t effective enough. Recognizing the unique expertise of Textile Auction, Birla Century decided to collaborate with the platform to tackle this challenge.

The Solution

Pre-Auction Strategy

• Detailed Asset Assessment: Experts visited the plant to thoroughly assess the machinery and created precise Technical Data Sheets (TDS) for each asset.
• Strategic Pricing Development: Pricing models were carefully designed based on market trends, the condition of the machinery, and industry benchmarks to ensure the highest valuation.
• Asset Presentation: The machinery was cleaned, inspected, and prepared to look its best to attract serious bidders.
• Auction Framework: Clear timelines, terms, and conditions were set up to make the bidding process smooth and hassle-free.

Marketing and Promotion

Targeted Campaigns

• WhatsApp campaigns reached over 15,000 contacts in the textile industry.
• Email promotions were sent to 45,000 subscribers specializing in textiles.
• Google Ads campaigns targeted 126,000 relevant professionals worldwide.

Comprehensive Information Memorandums

We created detailed documents that included machinery specifications, auction terms, and step-by-step guidelines. These helped bidders make well-informed decisions during the auction process.

Inspection and Auction Execution

Open-House Inspections:

• On-site inspections were arranged, where technical representatives were present to answer bidders’ questions and ensure complete  transparency.

 Seamless Online Auction:

• The auction was conducted on a user-friendly platform featuring real-time updates, detailed descriptions of assets, and secure  bidding  options.

Post-Auction Support

• Transaction Management:
 We managed payment collections, handled documentation, and resolved any queries from bidders, ensuring a smooth process.
• Logistics Support: Buyers were provided with services like dismantling, transportation, and installation of the purchased machinery.
• Unsold Asset Solutions: For any assets that didn’t sell, we devised plans for re-auctioning or alternative sales to achieve complete liquidation.
  

The Results

Quantitative Outcomes

Spinning and Weaving Assets:

• Total sales amounted to INR 63 crore.
• Achieved 110% of the pre-determined valuation.
  

Processing Equipment:

• Total sales reached INR 45 crore.
• Achieved a 90% asset liquidation rate.
  

Bidder Participation

Spinning and Weaving Units:

 Around 60 bidders showed interest and participated in the auction.

Processing Units

 Engaged 45 bidders, including participants from both domestic and international markets.

Qualitative Outcomes

• Industry Benchmark:  Textile Auction set a new standard in the textile sector by offering a transparent, efficient, and value-focused process for asset liquidation.
• Enhanced Bidder Confidence:  The detailed inspections, clear bidding guidelines, and smooth transactions boosted trust and confidence among bidders.
• Strengthened Partnerships:
 Successfully working with Birla Century strengthened the relationship and opened doors for future collaborations on similar projects.

Key Takeaways

• Industry-Specific Expertise: Textile Auction’s tailored approach played a key role in maximizing asset value and attracting a wide range of qualified bidders.
• Comprehensive Project Management:  Through detailed planning, targeted marketing, and flawless execution, the project was completed with excellent results within just eight months.
• Transparent Processes: Open communication, strong technical expertise, and reliable post-auction support established Textile Auction as a trusted partner for high-value asset sales.

Conclusion

This case study demonstrates how a specialized auction platform can solve complex challenges in the textile industry. Textile Auction’s collaboration with Birla Century delivered remarkable financial results while highlighting the importance of transparency, technical expertise, and client-focused strategies. By delivering outstanding value and fostering lasting relationships, Textile Auction continues to raise the bar in the global textile marketplace.

Talk to our consultants to learn how Texcoms can drive similar results for your organisation.