Page Industries, the exclusive licensee for manufacturing and distribution of US-based innerwear brand Jockey in India, Sri Lanka, Bangladesh and Nepal, is looking to expand into West Asia as well.
We are looking at a few countries in West Asia. We will be finalising the deal in a couple of months," said Mr Ashok Sunder Genomal, Managing Director, Page Industries, at the launch of the company's 50th exclusive Jockey store in India. The 1,200-sq.ft outlet in Bangalore is the first of the new-look stores of Jockey in India.
Created by designers from Jockey Europe, the store is in line with modern global retail formats, said Mr Genomal.
Jockey stores are being redesigned globally across the US, Asia and Europe.
Page Industries plans to launch 100 more new-look stores in India by the end of the next financial year.
"We will gradually convert existing stores into the new modern retail format," said Mr Genomal.
Jockey's product portfolio for men and women primarily comprises innerwear, apart from leisure wear.
The brand is priced in the mid-premium segment, at an average price point of Rs 125. It also retails some products in the super-premium range. While women's innerwear accounts for 15 per cent of the company's revenues, 17 per cent comes from leisure wear. The rest is from men's innerwear.
Page Industries has four manufacturing units in Bangalore catering to four countries – at a total production capacity of 74 million pieces per annum. It plans to ramp up production to 100 million next year.
The innerwear market in the mid-premium segment in India is estimated at Rs 2,100 crore. Jockey claims a 20 per cent market share.
Page Industries posted a turnover of Rs 256 crore in 2008-09.