Thaely

Thaely Private Limited is a forward-thinking company that has made a significant impact in the sustainable fashion industry. Founded on May 8, 2020, Thaely is an unlisted private company based in Mumbai, Maharashtra. The company has carved out a niche for itself by creating vegan sneakers from up-cycled waste plastic bags, recycled plastic bottles, and recycled rubber. Their innovative approach to fashion not only addresses the environmental issues associated with plastic waste but also offers a stylish and ethical alternative to traditional footwear. The inception of Thaely can be traced back to a design exercise by the founder, Ashay Bhave, who aimed to develop an ethically produced sneaker using materials recycled from waste. This initiative was driven by the desire to find a solution to the staggering problem posed by the 100 billion plastic bags used annually, which consume 12 million barrels of oil and have a detrimental impact on marine life. After two years of development, from 2017 to 2018, the waste plastic bag fabric was perfected. A prototype was created to demonstrate that this fabric could be utilized like traditional leather using existing manufacturing techniques. The success of this prototype led to Thaely receiving funding after winning the first place at Amity University Dubai’s 2019 Eureka startup pitch competition. Thaely's products are a testament to the company's commitment to sustainability and innovation. The sneakers are designed to be comfortable, durable, and environmentally friendly. The design of the sneakers is inspired by classic basketball sneakers of the early 2000s, which gives them a familiar yet distinct look. Thaely's approach to sustainable fashion is not just about creating a product; it's about inspiring change and challenging the status quo in the fashion industry. Financially, Thaely Private Limited has shown promising growth. For the financial year ending on March 31, 2023, the company's operating revenues ranged between INR 1 crore to 100 crores. Despite facing challenges, as indicated by a decrease in EBITDA, the company's net worth has seen a significant increase, reflecting its potential for future success. The company operates under the leadership of three directors, Ashay Sameer Bhave, Sheetal Sameer Bhave, and others, who bring a wealth of experience and a shared vision for a sustainable future. Thaely Private Limited's registered office is located at 204 Akshaya Plaza Road No. 1, Chembur, Mumbai, Maharashtra. Thaely's journey from a design exercise to a company leading the way in sustainable fashion is a remarkable one. It showcases the power of innovation and the importance of addressing environmental issues through conscious business practices. As Thaely continues to grow and expand its reach, it stands as a shining example of how businesses can be a force for good, making a positive impact on the planet and society.