The Economic Times | Sarah Jacob & Arun Iyer
PAGE Industries, the exclusive licensee of innerwear brand Jockey in India, is extending its product line into the boys and girls segment next fiscal. We are focusing on revamping the boys and girls innerwear category in the age group of 6-10 years by expanding the range and innovating with packaging. Our product offering currently is restricted to boys in a limited range, Ashok Genomal, managing director of Page Industries, said. The company is also considering venturing into the swimwear segment.
The Rs. 192-crore company, which counts former Warburg Pincus managing director Pulak Prasads Nalanda Capital as an investor, is also looking at commencing exports to Bangladesh though it has not been able to zero in on a distributor in this market. Page Industries, which has been present in India for over 13 years, forayed into Sri Lanka a decade ago.
Mr. Genomal and his brothers have had a partnership with privately-held innerwear maker Jockey International for the last five decades. They were the first to be awarded the license to distribute products in Philippines, a market they continue to serve.
Jockey has become an aspirational brand overtime and has now evolved into a lifestyle brand. It is this aspect that has seen the Bangalore-based company recently advance into the leisurewear segment for men and women with clothing that can double up as sleepwear, casual wear or gymwear under a sub-brand called Jockey Sport.
Jockey Sport can grow because it leverages our core competence.
There is synergy at the back-end because it uses the same technology used in creating innerwear, Ashok Genomal said. The leisurewear market is currently very fragmented in India, but is estimated to be about two-thirds of the Rs.3,000-crore men's innerwear market.
Page Industries will set up 28 more exclusive brand outlets through the franchisee model, taking the total number to 75 by 2010. Jockey is present across 16, 000 outlets in about 1,1 00 cities and towns across India. It has a market leadership of about 21% in the mens Rs 1, 600-crore middle and premium innerwear segment but has a market share of 12-13 % in the Rs 650-crore womens premium innerwear segment which is also being addressed by brands such as Lovable, Triumph and Enamor. The premium mens innerwear segment in India is growing at 28%.