Surplus made Simple

XSTOK is an online business-to-business platform that offers price transparency in the unexplored space and largely unorganised market of garment surplus. XSTOK helps dealers and garment manufacturers – right from Guwahati to Ahmedabad – tackle the daily challenge of sourcing fabrics at realistic rates. Says Sanjiv Khandelwal, founder of XSTOK, “We are working towards removing the inefficiency which exists in the space. The difference created by margins charged by the intermediaries is close to 65% in the offline world.” In just two weeks, since its launch, the startup has successfully completed 18 auctions with a transaction value of INR 1 crore. The auctions had several suppliers including big names like Bombay Dyeing, denim maker Arvind, towel manufacturer Welspun group and Garden Vareli. “We see a huge demand from dealers, distributors, cutters as well as the hospitality sector who want to place bulk orders,” said Khandelwal. XSTOK was incorporated in January…