Page Industries, the exclusive licensee of American clothing brand Jockey, is setting up a new facility in Odisha, which will significantly increase the company’s manufacturing capacity.
At the same time, the company will increase its sourcing from Bangladesh which was started almost one and half year back.
The company, having revenue of Rs. 3,907 crore in the last fiscal, is aiming for a revenue of US $ 1 billion (Rs. 81,00 crore) by FY ’26.
Currently, it produces 260 million garment pieces annually, with 70 per cent of the volume produced in-house and 30 per cent outsourced. It has 14 manufacturing units.
The Hindu Business Line quoted, Chandrasekar K, CFO of the company saying that Bangladesh is the largest apparel supplier for all the major brands in Europe. It is advanced in terms of quality and the cost of labour is also cheap. So, our long-term vision is to increase Bangladesh supplies.
The company’s upcoming factory in Odisha is spread over 6.5 lakh square feet and will add at least 20 per cent to capacity. It is expected to be completed by mid of FY ’23.
