Subin Mitra, Groyyo’s CEO
Groyyo, a pioneering cross-border B2B supply chain enablement company, is empowering small and medium-sized enterprises (SMEs) in the fashion and lifestyle sectors across South Asia. By connecting these manufacturers with global demand and sourcing cheaper raw materials, Groyyo is democratising the supply chain landscape.
Founded in 2021 by Subin Mitra and Pratik Tiwari, Groyyo has rapidly expanded its reach, enabling over 500+ manufacturers across 175+ product categories in over 10+ countries to maximise their manufacturing potential. The company’s mission is to empower 20 million+ manufacturing MSMEs across Southeast Asia, with offices strategically located in Delhi, Mumbai, Dhaka, and Abu Dhabi.
In an exclusive interview with FVC Media, Groyyo’s CEO, Subin Mitra, shared insights into the company’s vision and its impact on the industry. With a strong background in business and a proven track record of success at companies like Zilingo and Bain & Company, Mitra has played a pivotal role in driving Groyyo’s growth.
What makes Groyyo a unique platform for manufacturing?
As a leading B2B platform, Groyyo is revolutionising the way brands and MSMEs connect. By fostering a single, unified marketplace, we’re democratising global supply chains, ensuring sustainability and value creation throughout the process.
For MSMEs: We offer a gateway to a vast network of buyers, cutting-edge technological tools, and financial support. This empowers them to scale their operations and meet growing demand.
For Brands: Groyyo streamlines supply chains, guaranteeing high-quality products delivered on time. Our unique blend of technology and industry expertise allows us to provide tailored solutions that meet the specific needs of each brand.
Groyyo stands out as the world’s first manufacturer-first automation platform. Unlike generic solutions, our platform is designed with the specific needs of factory workers and owners in mind. By prioritising intuitive design and ease of use, we’ve created a technology that’s truly accessible. Groyyo’s use of vernacular languages and user-friendly interfaces ensures that manufacturers can seamlessly adopt our platform, making us the first choice for the industry.
What is Groyyo’s vision for MSMEs in Southeast Asia, and how will you achieve it?
Pratik and I identified a gap in the apparel and textiles sector, aiming to democratise the global supply chain for small manufacturers. Our focus is on supporting micro and small manufacturers, helping them compete globally with the right tools and expertise. We developed technology to gather shop floor data in vernacular languages, aiding the workforce in adopting digital tools. Already impacting 25+ factories in India and Bangladesh, our tech addresses quality issues and inventory tracking. We are committed to empowering our partners, ensuring timely, high-quality deliveries and becoming a crucial part of their supply chain.
What is Groyyo’s growth trajectory since its founding?
Over the past 12 months, we have significantly improved our financial performance, tripling our Gross Margin from 5% in FY23 to 15% in FY24. Our next objective is to collectively double the export contribution to our revenue, aiming to reach 70%. In terms of market positioning, we have established ourselves as the largest network of MSMEs for international buyers, offering a one-stop solution for clean, sustainable, and ethical sourcing needs. We plan to collaborate with more and more brands and expand our manufacturing base exponentially.
How is Groyyo planning to increase its export revenue to 60-70% in the next 12-15 months?
We aim to double our export contribution to 60-70% of overall revenue by capitalising on global supply chain disruptions and the trend toward near-shoring. These disruptions highlight the need for more resilient supply chain solutions, an area where Groyyo excels. We plan to leverage strategic locations and a strong textile manufacturing sector to offer faster turnaround times and reduced risks associated with long-distance shipping. Our focus will be on expanding into the US and European markets, as well as exploring opportunities in Australia and New Zealand. With our dedicated team, we are confident in achieving this growth target.
What are Groyyo’s expansion plans for Vietnam in FY25?
Building on our success in India and Bangladesh, we are excited to expand into the Vietnamese market in FY25. Our goal is to support small and medium-sized factories and improve supply chain management in Vietnam. We’ve partnered with VITAS (Vietnam Textile & Apparel Association) to facilitate our market entry. By tailoring our successful solutions for Vietnam, we aim to equip local manufacturers with tools for effective data management and streamlined processes there as well.
PROGRESS and BYETS projects: What are these projects about?
Under our consulting arm, we devised PROGRESS and Building Youth Employability Through Skills (BYETS) projects with Swiss Contact to significantly advance skill development in Bangladesh’s ready-made garments (RMG) sector. PROGRESS enhances technical skills and working conditions for RMG workers, especially women, promoting productivity and sustainable employment. BYETS boosts youth employability by equipping young people with market-ready skills, fostering economic growth and job creation.
How will Groyyo expand its product range?
We plan to expand our portfolio by incorporating footwear and home decor alongside our existing apparel offerings. We will leverage our existing network of brands and manufacturers to support these new product categories, ensuring a seamless integration into our platform. Our approach continues to include providing tailored tools and resources to manufacturers in the footwear and home decor sectors, broadening our reach and enhancing our service offerings.
