Game Changers Texfab is a fabric solutions company built on the idea of “coopetition” - partnering with hundreds of suppliers instead of owning mills - to solve a simple problem: the textile trade is fragmented, slow, and starved of choice. Founded by an IIT Delhi technologist and a textile-trade veteran, the 9.5-year-old business has evolved from a yarn-and-fabric trader into a tech-enabled platform called TradeUNO that lets garment makers, boutiques, designers and individual customers source from over 300 fabric categories without holding finished-goods risk. The recurring approach is an asset-light, fabric-first model: keep inventory as raw fabric so it can be repurposed across channels and end-uses, and earn better margins by paying suppliers early in a cash-starved industry. # Business segments A single fabric-platform business with three customer-facing storefronts - a wholesale sourcing engine, a technical-textiles desk, and a made-to-measure apparel brand - all fed by the same inventory pool and supplier network. ## 1. TradeUNO B2B: the wholesale fabric engine **A high-volume sourcing platform that consolidates demand from over 1,300 garment manufacturers, exporters and brands, supplying fabric from 22 Indian textile clusters without owning a single mill.** - **One platform, 300-plus fabric categories** - the B2B desk offers cotton, silk, satin, imported and occasion fabrics, plus white-label options, drawing on 15,000-plus online SKUs and 535-plus active suppliers. That breadth means an export house can source everything from one place instead of dealing with dozens of fragmented mills. - **Fabric-first inventory lowers risk** - the company keeps the majority of its stock as unfinished fabric, which can be redirected across apparel, home textiles, packaging, hospitality, defence and more depending on where demand is strongest. Dead stock and heavy discounting are rare because the same base material serves many end-markets. - **Sourcing offices in every cluster** - ten-plus sourcing offices across 22 textile zones give the company a granular read on raw-material, labour, electricity and logistics costs, so it can benchmark pricing and pass savings to both buyers and sellers. That is how it competes without owning factories. - **Early payments earn cash discounts** - by paying suppliers ahead of terms, the company captures discounts of 3% to 7%, a practice made possible because it has cash when much of the industry does not. Those discounts widen margins without raising prices. - **Exporters are the core customer** - the B2B book is built on exporters who ship to 120-plus countries and 200-plus global brands, and the company is extending extra credit to help them through US tariff disruption while they pivot toward the EU, UK and Japan. ## 2. TradeUNO B2C: the experience-centre and online storefront **A hybrid wholesale-retail model that sells directly to 60,000-plus individual customers - designers, tailors and end-users - at gross margins of 65-70%, roughly five times the B2B margin.** - **Two experience centres, with eight more planned** - the company runs fabric showrooms of 4,000 to 10,000 square feet where customers can touch and buy, and it plans to open ten centres by 2028, including locations in Lajpat Nagar, Chandigarh, Dubai and Bangladesh. Each centre is designed to hold 10,000 items of inventory. - **Higher margins from a different customer** - where B2B gross margins sit at 10-15%, the showroom and online channels deliver 65-70% because the buyer is a designer or end-user purchasing smaller quantities at retail prices. The shift toward B2C is the company’s main margin-expansion lever. - **AI tools make fabric search visual** - the platform offers image-based fabric search, flat-to-draped garment visualization and a virtual try-on feature, so a customer can see how a flat fabric will look as a finished garment before buying. That reduces the guesswork that slows online fabric purchases. - **A new direct-selling channel** - the company is piloting a women-led referral channel modelled on Amway, where women earn commissions by promoting TradeUNO in their networks. It is also onboarding a General Manager sales to bring top Indian designers onto the platform. ## 3. Technical textiles: the high-margin specialist desk **A small but fast-growing segment that sells performance fabrics - outdoor and PVC-coated materials - under exclusive India distribution rights from four global partners.** - **Exclusive partnerships are the moat** - the company holds exclusive India distribution rights with four Chinese manufacturers: Suzhou Pinzheng, Zhejiang Jiasheng, Hangzhou Yingboer and Haining Hongliang. No other Indian platform can offer those exact technical fabrics. - **Shifted from volume to margin** - the segment was deliberately moved away from high-volume, low-margin products toward higher-margin technical grades, and the company is using IPO proceeds to import technical textiles from China and outdoor fabrics from Singapore. The target is to grow this desk from roughly 2% of revenue to about 15% by 2028. ## 4. Fall In Love: the made-to-measure apparel brand **A tiny, ultra-high-margin brand offering semi-stitched garments with custom embroidery and handwork, connecting 150 designers to customers through the TradeUNO platform.** - **90% gross margin on customization** - made-to-measure garments carry the highest margin in the portfolio because the customer pays for bespoke design, embroidery and embellishment, with in-house designers ensuring quality. The segment is kept small by design, expected to stay at 1-2% of revenue. # Group structure and partners **The listed parent operates the TradeUNO platform and has recently incorporated two subsidiaries to enter retail and institutional uniforms, while holding four exclusive global fabric-distribution partnerships.** - Game Changers Texfab Ltd is the BSE SME-listed parent, with its registered office in Delhi and a corporate office in Gurugram. - It incorporated Game Changers Retails Private Limited in February 2026, owned 80% by the parent and 20% by an individual shareholder, to pursue high-end and designer clothing retail using the parent’s sourcing network. - A second subsidiary, Game Changers Attirex Private Limited, was approved the same month - also 80%-owned - to manufacture and supply school and corporate uniforms, diversifying into the institutional segment. - The four exclusive technical-textile distribution partnerships - with Suzhou Pinzheng, Zhejiang Jiasheng, Hangzhou Yingboer and Haining Hongliang - give the company sole India rights for those suppliers’ outdoor and PVC-coated fabrics.