The success of Dayu is synonymous to the change in the preference of the market for ‘value for money’ technology. “In the price of one Japanese machine, you can buy almost 10 Dayu machines that give the same productivity and quality, the only difference being in the durability of spare parts. But then the customer has the option to change the parts every 5 years, with a small cost of approximately Rs. 50,000. In the fickle fashion business, it is pointless to invest half a crore in a Japanese machine and wait for the next 10 years for ROI, when Dayu machines gives an ROI in just 8 months,” reasons Prateek. Prominent brands like Saroj Kishan and Unique Embroideries have invested in Dayu machines.
But it is not just the price factor that is working to the advantage of Dayu, which according to Prateek is much ahead of its counterparts in terms of technology and flexibility. The need of the market is changing every 3 months and to adapt to the same, big brands would require one to buy new software and upgrade existing machinery. However in Dayu one just needs to replace the old chip with a new one and in only Rs. 300 the machine is upgraded. “If Chinese machines had no advantage in today’s environment, there wouldn’t have been 2.5 lakh installations in India,” says Prateek.
The advancements today in embroidery machines are devices to attach pearls, sequins, cording and Peayush Machinery has the facility to provide all such attachments. “Chenille gives a towel mix affect to the embroidery which is mainly used for logos in denims or jackets. The technology is not new but its use in design has recently caught up with huge demand in Surat,” informs Prateek. The company has also introduced triple servo machines ensuring that the speed does not vary or slow down on jump stitches.
[bleft]Among the few Indian technology providers with presence in over 20 countries, Peayush Machineries is specializing in computerized embroidery machines mostly from Chinese principle Zoje Dayu and spare parts. Established in 2006, the ISO 14001:2000 and ISO 9001:2000 certified company with offices in all major embroidery centres, is very upbeat of its product and relation it shares with its principle. “Our relationship with Dayu goes back many years and over the time we have been able to establish it as the leading Chinese brand for embroidery machines in the country. Last year, we sold 972 machines when most other competitors could barely touch three figures mark,” avers Prateek Chaudhary, MD, Peayush Machineries. [/bleft]
Having established goodwill in the embroidery machine market, Peayush Machinery is rapidly diversifying its portfolio. The company now deals in Schiffli machines and flat knitting machines as well, with its most recent venture being the water-jet loom machines that are scheduled to premiere in the forthcoming GTE. “All my customers in Varanasi, Surat and even Meerut using my embroidery machines, also have looms and they only approach us with their requirement for water-jet looms and knitting machines as well,” says Prateek. The company is also in talks with Juki and Jack to start dealing in sewing machines by the second half of this year. Peayush Machinery is also selling ‘refurbished’ machines attached with a warranty of 3 months.
Even though the business in 2012 had been satisfactory for Peayush Machineries, the company has not escaped from its set of struggles. “The day we present our machines at trade exhibitions, it is copied by our competitors. Even though they bring out no more than one or two machines, which eventually fail, they are successful in spoiling the margins for us. I believe a minimum margin is a must to address post-sale breakdowns, replacements, and ongoing services,” avers Prateek. Adding to this problem is the value of dollar which is holding on to an all-time high. Another disadvantage that is inherent to business in the Indian market is the customer’s demand for long period of credit. “We have started financing up to 50% of the machine cost and also giving EMI (Equated Monthly Instalment) plans,“ shares Prateek.
Having started with just one service engineer, Peayush Machinery today has a turnover of over Rs. 27 crore and is very focused on after-sale service, which is a key differentiator for technology providers and, more often than not, can be a deal breaker. The company ardently follows the Gandhian philosophy of “Customer is God” and every customer query is followed up by Prateek himself, for all the 9 offices in India. “We maintain a record of the machines we have installed, and carry out a monthly check-up of each machine,” says Prateek. The company has a dedicated team for training the customers; they also arrange industry visits so that the client’s operators can see the machine working at various factories. “For us, growth doesn’t only mean adding a new customer, our stress is always on retaining existing clientele,” concludes Prateek.
