By M.K. Prabhakar & Mohanraj
Lakshmi Impex and its sister company, Lakshmi Fibres, are swiftly gaining prominence in the textile industry through a commitment to quality, innovation, and sustainability. Founded in 2020 by K.S. Palanikumar, Lakshmi Impex marked the beginning of a visionary journey. With 21 years’ experience in textile machinery sales, Palanikumar launched the company to channel his entrepreneurial spirit. Initially a marketing firm, Lakshmi Impex soon expanded into trading, representing top brands across South India.
In 2023, Lakshmi Fibres joined the fold, with Palanikumar and his partner, David, bringing decades of industry expertise. Focused on polyester and recycled Fibres, the new company has already carved out a significant role in the sector, with an impressive first-year revenue approaching Rs.100 crores. Both companies aim to meet the rising demand for sustainable textile solutions and are poised for further expansion.
Reflecting on the inception of Lakshmi Impex, Palanikumar shared, “After completing my B.Tech in Textile Engineering, I began a career with a top textile machinery sales company in the Coimbatore region. I always wanted to start my own venture, and after 21 years, I founded Lakshmi Impex in 2020.”
He elaborated, “Initially, we focused on marketing, but soon added trading and partnered with renowned brands. We are representing Neelkanth Cans in the South Indian market. Similarly, we also represent Innospin, well known for their bobbin transport system (BTS), throughout south India. Our 10-member team, based in Coimbatore, headed by Vice President Thangavelu, has driven this success.”
Lakshmi Fibres has emerged as a dynamic player in polyester and recycled Fibres. “Lakshmi Fibres is our newest venture, founded in 2023 with my partner, David, who has over 20 years of experience in this field,” Palanikumar explained. “Last year alone, we achieved nearly Rs.100 crores in revenue. We’re partnering with leading brands like “Sandberry” fibre from Gujarat, renowned for quality. We are also now trading yarns. We started small and then gradually added products, to meet evolving industry needs.”
Driving growth through industry expertise
Both Palanikumar and David credit their extensive industry experience as central to the growth of Lakshmi Impex and Lakshmi Fibres. “Our corporate exposure in sales and service has been invaluable. David’s expertise in hollow Fibres complements my experience, creating a solid foundation for growth,” Palanikumar noted.
Lakshmi Fibres is the exclusive distributor for “Sandberry “fiber across South India. “We also distribute virgin polyester and a range of yarns. In five years, we envision Lakshmi Fibres as a one-stop solution for polyester and recycled Fibres in the region,” he shared.
Future ambitions
Looking ahead, Palanikumar has mapped out ambitious plans. “If all goes well, we aim to establish Lakshmi Impex Group globally within five years and our goal is to make Lakshmi Fibres an Rs.500 crore company by 2030,” he stated. Lakshmi Impex, meanwhile, intends to broaden its product offerings, with ongoing discussions and plans for new partnerships.
“We’re also refining our financial strategy, knowing this growth will require funding. We’re studying products, geographic markets, and team needs to execute these plans,” he added.
Keys to success
When asked about the secret to his entrepreneurial success, Palanikumar pointed to his dedication. “I’m deeply passionate about my work. I don’t look at myself as the CEO of the company. I’m on the field 24/7, empowering my team and welcoming their ideas. This teamwork has been essential to our growth,” he said.
As India advances toward becoming one of the world’s top three economies, Palanikumar is optimistic about the textile industry’s prospects. “The industry is heading for consolidation. Organized players will thrive, while others will need to adapt through funding, innovation, and value addition. After every setback, there’s a revival—just look at the post-pandemic surge in textile machinery sales. This time won’t be different.”
Palanikumar also highlighted the shift from cotton-based products to man-made Fibres (MMF). “We’re already seeing this shift, and I expect MMF to have tremendous growth potential,” he concluded.
With clear vision, rich experience, and ambitious plans, Lakshmi Impex and Lakshmi Fibres are poised to shape the future of the Indian textile industry.
