XSTOK launches Sample Express

XSTOK registered buyers, from anywhere across the country, can bid for the product through their XSTOK mobile app or their desktop.

March 27, 2016 10:34 IST | India Infoline News Service
XSTOK.com, an online B2B marketplace for surplus stocks across fabrics, home textiles, apparels and yarns was launched in July 2015 by Sanjiv Khandelwal and Mihir Shah. It was funded by Jeetu Panjabi (ex Capital Group) Manish Chokshi (Asian Paints), Anupam Mittal (People Group) Vineet Suchanti (Keynote Capital) , Oliphans Capital and an elite group of professional heading consulting, stock Broking and logistics companies . XSTOK in less than a year of existence has over 7000 registered buyers and has conducted over 350 auctions. With the launch of SampleExpress, it aims to double the total number of registered buyers on its platform in a few months.
As of now, XSTOK has on-boarded over 250 suppliers, including large mills like Arvind, Grasim, Welspun, Trident, Mafatlal and many more. The products available for sale are listed on the site, along with a detailed description about the product quality, source and quantity.  XSTOK registered buyers, from anywhere across the country, can bid for the product through their XSTOK mobile app or their desktop.

With the launch of SampleExpress, an interested buyer, from across India, can now ask for a physical sample of the product. XSTOK will make the sample available to the buyers within 2 working days. Most samples will be available free of charge; however some premium products will be available against nominal refundable deposit from the buyer.

Said Sanjiv Khandelwal, Founder and CEO, XSTOK “We are constantly trying to improve our product offerings and adapt to the needs of our suppliers and buyers. The early response from both the suppliers and the buyer’s community has been remarkable. However, we felt that a large segment of potential buyers are used to the traditional way of buying textiles and will be much happier with the additional comfort of physical samples. Typically, after the first or the second purchase they are comfortable buying directly from the mobile or desktop. We hope to gain the confidence and loyalty of a much larger group of customers through Sample Express.” 

XSTOK aims to have 30,000 registered buyers by the end of the year. According to industry estimates, India produces close to $ 11 billion worth of textile surplus every year, about 10% of the total produce of the textile Industry. In the coming years, XSTOK aims to be the first choice for sourcing and selling of ‘surplus’ stock in India.

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