The Indian socks market is on fast track, with Statista estimating revenue to reach US $ 184.60 million in 2024. The market is expected to grow at an annual rate of 4.23 per cent (CAGR 2024-28). Yet, the unorganised segment still dominates, leaving much of the market untapped. Streamlining this sector could not only boost the industry but also position India as a global leader in socks manufacturing.
The competition is heating up, with popular players in the organised segment including Balenzia, Big C, Thela Gaadi, Mustang Socks, Soxytoes, Mint & Oak, Dynamocks, Nike, Levi’s, SockSoho, Adidas, Jockey, Puma, Hugo Boss, Reebok, SuperSox, Heelium, Tommy Hilfiger, Bodycare, HRX by Hrithik Roshan and more.
Raj Kumar Jain, MD, Bonjour, knew that breaking into this space with a homegrown brand wouldn’t be easy. Since its inception in 1988, Bonjour has steadily grown and today its socks are available in over 12,000 multi-brand outlets (MBOs) and 15 exclusive brand outlets (EBOs), supported by 180 distributors. With an annual turnover of Rs.250 crore, 80 per cent of its revenue comes from the domestic market, while 20 per cent is generated internationally. The brand’s revenue mix includes 85 per cent from offline sales, 12 per cent from e-commerce and 3 per cent from quick commerce.
“We currently serve nearly every Tier-1 and Tier-2 city in India and are now setting our sights on expanding into Tier-3 cities, particularly in southern regions. Internationally, we’re exporting to the USA and the Middle East, and this year, we plan to enter the European market,” Raj Kumar shared. Bonjour is also aiming to expand to 20,000 MBOs by year-end, with a goal of increasing its EBO count to 50 by 2025.
Looking ahead, Raj Kumar forecasts a 10 per cent – 12 per cent growth rate in the next year. He noted, “The socks market is divided into two main categories: traditional formal and sportswear and the rapidly growing school socks sector.”
In an exclusive interview with Apparel Resources, Raj Kumar deep dives into his growth strategy and how Bonjour plans to outpace the competition. Here are the edited excerpts:
AR: How do you fuel your brand’s growth in such a competitive market?
RK Jain: We have strategically pursued licensing agreements with leading brands to drive growth and broaden our market presence. By collaborating with well-known international names like Hush Puppies for socks and Warner Bros for licensed products, including beloved franchises like Barbie, Ben10, Superman, Batman, Scooby-Doo and Tom and Jerry, we leverage their strong reputation and customer bases.
In our product development, we work closely with these top brands to create co-branded items that blend our expertise in hosiery with their brand appeal. We’ve also launched exclusive collections that feature innovative designs and materials, attracting both our loyal customers and fans of our partner brands.
Our licensing agreements give us access to marketing synergies, allowing us to engage in joint campaigns, co-branded advertisements and social media collaborations, which boost our visibility and help us reach new customers. Additionally, these partnerships open up new retail opportunities, as our products are showcased in partner brand stores, both online and offline, expanding our distribution network and enhancing accessibility for consumers.
Before entering into licensing partnerships, we carefully evaluate key factors like brand reputation, target audience, product quality, financial viability, legal compliance, market research insights, brand synergy and innovation potential.
AR: What kind of lifestyle do you associate with your brands – Bonjour, Vami and Bontact?
RK Jain: We sell our socks and innerwear under three distinct brand names. First one is ‘Bonjour’, offering a wide array of high-quality products crafted to cater to diverse needs of its customers. Key offerings from Bonjour include cotton socks, sports socks, ankle socks, compression socks, thermal socks and kids’ socks, amongst others.
Then there’s ‘Vami’, our brand dedicated to the modern woman. It focuses on comfort, style and durability with products like leggings, jeggings, blouses, innerwear and winterwear. Last but not the least is ‘Bontact’, which specialises in providing high-performance socks and tactical items designed for demanding environment. This includes products tailored for defense and extreme conditions, ensuring durability, comfort and functionality. Key offerings under the Bontact brand include defense socks, waterproof socks, tactical and wind waterproof gloves, extreme cold weather clothing, rucksack bags, tactical vest etc.
We have also partnered with leading brands to offer a diverse range of socks.
AR: What are you top sellers?
RK Jain: Socks are the heart of our business, making up 65 per cent of our total sales and serving as the backbone of our revenue.
In the men’s category, our ‘Cushioned White Sports Crew Socks’ are a big hit, with added cushioning for comfort and moisture-wicking fabric that keeps feet dry and comfy during any activity. For women, the ‘Feather-Lite Fur Socks’ take the top spot. Lightweight yet cozy, these socks combine softness with warmth, perfect for colder days without sacrificing style. And for kids, our ‘Character Socks’ stand out the most. With vibrant, fun designs featuring beloved characters, these socks are durable and playful, making them a favourite among both kids and parents alike.
Handkerchiefs add another 10 per cent to our total sales, while the remaining 25 per cent comes from our diverse lineup, including loungewear, formalwear, sleepwear, tracksuits, tees, bottoms, capris, churidar leggings and more. Our sales are spread across 60 per cent from men’s products, 20 per cent from women’s and 20 per cent from kids’. And no surprise – socks are the top sellers in every category.
Going forward, this winter, we plan to introduce winter caps, gloves and winter leggings. Given the anticipated extreme winter conditions in North India, we expect a heightened demand for these items.
AR: How do you drive innovation in socks manufacturing?
RK Jain: Innovation has always been at the heart of what we do. Back in 1994, we made history as the first company in India to introduce Lycra socks. By importing Lycra from Switzerland, we set a new trend that transformed how people perceive sock comfort.
Two years later, we addressed a common issue where socks would lose their elasticity and fall down after a few washes. We introduced sag-free socks that maintained their fit and stayed up. By our tenth year, we had introduced antibacterial and odour-free socks with sanitised treatment, providing additional comfort and hygiene.
Today, we manufacture all our products, particularly socks, using fully computerised and automatic machinery. We have 500+ computerised knitting machines, 20 ROSSO linking machines and 25 hand-linked machines. We also use N9 silver technology, a non-leaching and strong binding silver-based technology that neutralises odour-causing bacteria on contact keeping articles fresher for longer. It remains intact on treated textiles and works when it is needed.
These advanced technologies allow the entire production process, from knitting to linking, to be completed automatically without any human interference. This ensures precision, efficiency and consistency in every pair of socks we produce.
To enhance our production capabilities further, we have recently added the latest silicon coating machines. This state-of-the-art equipment applies a silicon coating during the knitting process, making our socks anti-slip right from the start, which enhances their functionality and safety.
Furthermore, we utilise advanced design software such as CorelDRAW, Adobe Illustrator and CLO 3D to bring intricate and innovative sock designs to life. We are also dedicated to special design software, specific to socks production. These tools allow our design team to seamlessly merge creativity with precision, enabling us to develop patterns and textures that are both aesthetically appealing and highly functional.
| In the men’s category, our ‘Cushioned White Sports Crew Socks’ are a big hit, with added cushioning for comfort and moisture-wicking fabric that keeps feet dry and comfy during any activity. |
AR: What exciting trends are emerging in socks design, fabrics and styles?
RK Jain: The fashion industry is experiencing two significant trends. Firstly, socks have emerged as a key design element in overall attire. While traditional clothing may not always showcase vibrant colours, socks offer an opportunity for self-expression through their design and colour. This allows individuals to wear striking, colourful socks that can be either displayed or concealed based on preference. Over the past two years, there has been a noticeable shift from standard black and blue socks to more colourful options, a trend observed both in India and internationally.
Secondly, there is a growing preference for sustainable and reprocessed fabrics in the sock industry. Materials such as organic cotton and recycled cotton are gaining traction, reflecting a broader acceptance of environmentally friendly options. Additionally, high-performance synthetic socks with enhanced durability and wearability are also seeing increased demand. There is also a cultural shift in office environment from strictly formal attire to a more casual approach, leading to a rise in the popularity of casual and stylish socks.
