spinning_success

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data-lastmodified="1728378438070"> <a href="https://warwick.ac.uk/alumni/contacts/faqs/" data-page-url="/alumni/contacts/faqs/">FAQs</a> </li></ul> </li></ul></nav><nav class="navbar navbar-secondary" role="navigation" aria-label="Secondary navigation"> <ul class="nav navbar-nav"><li class="nav-breadcrumb first recently-updated" data-lastmodified="1731928440180"> <a href="https://warwick.ac.uk/alumni/alumni-news/" data-page-url="/alumni/alumni-news/">Your News</a></li><li class="nav-breadcrumb second recently-updated" data-lastmodified="1732204479595"> <a href="https://warwick.ac.uk/alumni/alumni-news/news/" data-page-url="/alumni/alumni-news/news/">News</a></li><li class="active nav-breadcrumb last" data-lastmodified="1730809418787"> <a tabindex="0" data-page-url="/alumni/alumni-news/news/spinning_success_with/">Spinning Success with Pratik Gadia</a></li></ul></nav> </div> </header> <main id="main" class="id7-main-content-area"> <header> <div class="id7-horizontal-divider"> <svg xmlns="http://www.w3.org/2000/svg" x="0" y="0" version="1.1" width="1130" height="41" viewBox="0, 0, 1130, 41"> <path d="m 0,0.5 1030.48, 0 22.8,40 16.96,-31.4 16.96,31.4 22.8,-40 20,0" class="divider" stroke="#383838" fill="none" /> </svg> </div> <div class="id7-page-title"> <h1> Spinning Success with Pratik Gadia </h1> </div> </header> <div class="id7-main-content"> <div class="layout layout-100"> <div class="column-1"><div class="column-1-content"> <div class="layout-row layout-row--nowrap"> <div class="layout-col layout-col--8"> <div class="container-component boxstyle_ box1"> <p>Pratik Gadia, a WMG alumnus (MSc, Innovation and Entrepreneurship, 2014) is the Founder and CEO of <a href="https://theyarnbazaar.com/">The Yarn Bazaar</a>, a start-up company that appeared on the TV show Shark Tank India. His company is transforming the textile industry with transparent, efficient solutions for buying and selling yarn. His mission is to organise the unorganised sector and empower small yarn buyers and suppliers through innovative technology. In this interview, he shares how Warwick has helped make him the man he is today. He also explains how he’s reshaping the yarn trade across India, his views on the social impact fast fashion is having on the world, and much more.</p> <p><strong>How did growing up around your family’s business shape your approach to entrepreneurship?</strong></p> <p>I always say I was born and raised in entrepreneurship. When you're in a family where your dad’s building his own business, there’s always talk of business! From an early age, I just knew I was destined to build something where the final outcome would be a legacy.</p> <p>Around 2010, I came across an article by an accomplished programmer, author, and venture capitalist which just blew me away. That was when I first got exposed to the whole world of startups. That’s one of the main reasons I decided to pursue innovation and entrepreneurship at Warwick. After completing my master's and returning to India, I was eager to start building my venture. However, I had family commitments that required me to join the family business. I spent approximately eight years there, which was a significant detour from my original plan, but it taught me a lot about business operations that I knew would be useful when I eventually pursued my own entrepreneurial goals.</p> <p><strong>What’s a favourite memory of Warwick?</strong></p> <p>One of the best experiences I had at Warwick was partaking in an apprentice-style competition representing the university. Each team had a small budget to set up a stall at Spitalfields Market in London and promote a social enterprise. The goal was simple: make the most profit. Spending three days in London, reporting to head office, and working with a diverse team was incredible. We chose to sell macarons from a local business. The catch was we hadn’t seen or sampled them. When the shipment arrived, we realised the product was in fact ‘mini’ macarons and not the size we expected. Charging high prices seemed impossible, and we would have needed to sell thousands just to break even.</p> <p>In a last-ditch effort, someone suggested letting customers pay what they wanted since it was for a social cause. Shockingly, some people paid up to £30 for a single mini macaron. We ended up as second runner-up, but the journey was the real win.</p> <p><strong>Do you remember your first day at Warwick?</strong></p> <p>I remember it clearly because I was late in trying to obtain my visa and I arrived at Warwick about three weeks after everyone else. By then, people had already formed groups and started to settle into their routines. Fortunately, I didn’t miss any classes. What helped was that I had met a few fellow students at the pre-departure session Warwick held in Mumbai, so when I finally arrived, one of them came to pick me up, and introduced me to everyone, and it made settling in much easier.</p> <p><strong>Why is the alumni community special to you?</strong></p> <p>There is a beauty about being part of a community like Warwick. The alumni network is so active, and you never know where and when you’ll bump into someone. Even if it’s 30 or 40 years apart, there’s still that shared connection. It gives you so much to talk about, such as what was Warwick like during your time, and what was it like during mine. Coincidentally, my wife also graduated from Warwick the year after me, so when we first met, we clicked instantly. We had so much in common, from where we stayed to the places we went to with our friends. Warwick just created that common bond.</p> <p><strong>Could you share your insights into the textile industry, especially about eco-friendly and ethically sourced products?</strong></p> <p>We’re definitely seeing a growing demand for sustainable yarns, both internationally and here in India. A lot of our customers have shifted from traditional cotton to more eco-friendly options, including recycled yarns. The polyester segment is also seeing big investments in recycled yarn production. To keep up with this demand, spinners are adopting new technologies, improving supply chain efficiency, and focusing on traceability. At The Yarn Bazaar, we’ve made sure we’re aligned with this trend. We hold certifications such as the Global Organic Textile Standard and Recycled Claim Standard, showing our commitment to sustainable and responsible sourcing.</p> <p><strong>How does The Yarn Bazaar support small and medium-sized enterprises (SMEs) in the textile industry?</strong></p> <p>At The Yarn Bazaar, we understand what small and medium suppliers need: quality, competitive pricing, and timely delivery. Our strong supplier network connects them with a variety of buyers, giving them the right mix of quality, cost, and delivery. We help suppliers get quick sales and prompt payments, ensuring steady demand for their yarn. With upfront payments, we boost their cash flow and provide market insights to improve their efficiency. Plus, our partnerships with financing companies help them secure advance payments quickly, keeping them competitive in the textile market.</p> <p><strong>What strategies are you implementing to help smaller suppliers increase their sales? </strong></p> <p>When we talk about the basic needs of any human being, we’re really looking at clothing, food, and shelter. Textiles are essential, and the human race can’t live without them. They’ve been around for centuries and will continue to be vital in the future. I think a lot of investors recognise this, especially when it comes to smaller factories today. Right now, many of these factories are operating at less than 50% capacity because they can't sell their products. What we're doing is bringing all these factories together and boosting their capacity utilisation. When these factories have a reliable partner like us who commit to certain capacities, it helps them retain employees and create more jobs.</p> <p><strong>How do you think fast fashion will impact traditional textile manufacturing in the long term?</strong></p> <p>There’s been a shift in the textile industry with the rise of fast fashion. Brands like Shein offer incredibly low prices, and consumer behaviour has changed dramatically. We've seen a significant increase in demand for textiles because of this trend. I remember one of the modules I took at Warwick where we studied Inditex (a multinational clothing company). I discovered how popular brands transformed their supply chain to be incredibly lean, allowing them to adapt to new trends in just 30 days.</p> <p>These were forecasts back in 2012, and today, we’re witnessing a similar trend. Social media has made everyone more fashion-conscious, leading to increased supply and demand. Everyone wants to stay on-trend, and fast-fashion brands are thriving right now. This means that delivery timelines have significantly shortened; therefore, we must manage the entire supply chain effectively and be ready to supply and deliver yarn to our suppliers to meet their needs.</p> </div> </div> <div class="layout-col layout-col--4"> <div class="container-component boxstyle_ box5"> <div class="image-component margin-full"> <picture> <img src="pratik_gadia_photo_640_640.png" alt="Pratik Gadia head and shoulders shot - in namaste pose" class="img-content"> </picture> </div> <p>Pratik Gadia</p> <p>MSc, Innovation and Entrepreneurship, 2014</p> </div> </div> </div> </div></div> </div> </div> </main> <footer class="id7-page-footer id7-footer-coloured"> <div class="id7-site-footer"> <div class="id7-site-footer-content"> <div class="row"> <div class="col-md-3"> <h4>Quick links</h4> <p><a href="http://go.warwick.ac.uk/giving/">Giving to Warwick<br /></a><a href="/alumni/international-networks/">International Networks</a><br /><a href="/alumni/services/">Alumni Benefits</a><br /><a href="http://go.warwick.ac.uk/knowledge">Warwick Knowledge Centre</a><br /><a href="http://go.warwick.ac.uk/careers">Student Opportunity</a><br /><a href="/alumni/i-am-warwick/">Alumni Spotlight</a><br /><a href="https://warwick.ac.uk/alumni/privacynotice01">Data Protection statement</a></p> </div> <div class="col-md-3"> <p><strong>General alumni queries:</strong><br />Email: <span id="email550779510">alumni at warwick dot ac dot uk</span><br />Tel: +44 (0)24 7657 4036<br />University of Warwick<br />University House, Kirby Corner Road<br />Coventry CV4 8UW</p> </div> <div class="col-md-3"> <p><strong>Enquiries regarding donations:</strong><br />Email: <span id="email1299351231">benefactors at warwick dot ac dot uk</span><br />Tel: +44 (0)24 7657 4037</p> </div> <div class="col-md-3 brand-text text-right"><a href="https://warwick.ac.uk/alumni/contacts/faqs/" title="FAQs"><em class="fa fa-question-circle fa-3x fa-fw"></em><span class="sr-only">Frequently asked questions</span></a> <a href="https://www.facebook.com/warwickuniversity" title="Warwick Alumni on Facebook"><em class="fa fa-facebook fa-3x fa-fw"></em><span class="sr-only">Warwick Alumni on Facebook</span></a> <a href="https://twitter.com/uniofwarwick" title="Warwick Alumni on Twitter"><em class="fa fa-twitter fa-3x fa-fw"></em><span class="sr-only">Warwick Alumni on Twitter</span></a> <a href="https://warwick.ac.uk/alumni/networks/professional/" title="Warwick Alumni on LinkedIn"><em class="fa fa-linkedin fa-3x fa-fw"></em><span class="sr-only">Warwick Alumni on LinkedIn</span></a></div> </div> </div> </div> <div class="id7-app-footer"> <div class="id7-logo-bleed"></div> <div class="id7-app-footer-content"> <div id="page-footer-elements" class="nofollow clearfix page-footer-elements"> Page contact: <a id="email-owner-link" href="/sitebuilder2/api/ajax/emailOwner.htm?page=%2Falumni%2Falumni-news%2Fnews%2Fspinning_success_with" class="no-print-expand" aria-controls="email-page-owner" title="Send an email to AlumniTeam" rel="nofollow">AlumniTeam</a> <br> Last revised: Fri 1 Nov 2024 </div> <div id="email-page-owner" class="hidden"> </div> <div class="id7-footer-utility"> <ul> <li id="powered-by-link"> Powered by <a href="https://warwick.ac.uk/sitebuilder" title="More information about SiteBuilder">Sitebuilder</a> </li> <li id="accessibility-link"><a href="https://warwick.ac.uk/accessibility" title="Accessibility information [0]" accesskey="0">Accessibility</a></li> <li id="cookies-link"><a href="http://warwick.ac.uk/cookies" title="Information about cookies">Cookies</a></li> <li id="copyright-link"><a href="http://warwick.ac.uk/copyright" title="Copyright Statement">© MMXXIV</a></li> <li id="modern-slavery-link"><a href="https://warwick.ac.uk/modernslavery">Modern Slavery Statement</a></li> <li id="privacy-link"><a href="http://warwick.ac.uk/privacy" title="Privacy notice">Privacy</a></li> <li id="terms-link"><a href="http://warwick.ac.uk/terms/general" title="Terms of use">Terms</a></li> </ul> </div> </div>  <div id="university-vacancies-link"> <a class="btn btn-info" href="https://warwick.ac.uk/vacancies">Work with us</a> </div> </div> </footer> </div> <div class="id7-right-border"></div> <aside id="cookie-banner"> <div class="container"> <h2>Let us know you agree to cookies</h2> <form id="cookiePreferenceForm" action="/sitebuilder2/user/cookiepreference?returnTo=%2Falumni%2Falumni-news%2Fnews%2Fspinning_success_with" method="POST"> <div class="row"> <div class="col-sm-12 col-md-4"> <p class="cookie-description">We use cookies to give you the best online experience. 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