India’s leading textile company Page Industries, which is also the exclusive licensee of Jockey and Speedo in India, aims to be a US $ 1 billion company in the next five years. It is growing almost 2.5 times with the expanding product portfolio and reach in the markets.
For the financial year ended 31 March 2021, it generated sales of Rs. 2,833 crore while in the financial year 2019-20 the same was Rs. 2,945.5 crore.
The company had reported almost 76.08 per cent growth in revenue from operations in April-June this fiscal to Rs. 501.53 crore.
Besides, Page Industries also announced the opening of the 1,000th exclusive brand store (EBS) of Jockey in India, and said that it is focusing on deeper penetration for accelerated growth – the aim is to double the number of stores in the coming years with a special focus on smaller Tier-2 and Tier-3 markets besides the metro markets.
VS Ganesh, CEO and ED of the company said, “Our aspiration is to be a US $ 1 billion company by the year 2026, which would mean close to 2.5-2.75 times growth in the next five years for which we are working pretty hard. We are very clear as how to get there, and for that, we would continue to focus on expansion and have a better presence in India to reach more people across more markets through retail, e-commerce, omni-distribution channels.”
It will invest to increase its capacities and improve supplies and as per its strategy, is focusing on women’s innerwear segment and kids’ segments, besides the athleisurewear which has gained prominence after the pandemic.
“Jockey has always continued to capture the consumers’ imagination right from its inception, catering to both the functional and aspirational needs of the entire family, offering premium quality innovative products, value for money proposition and establishing its leadership position in every product segment and every channel that it operates in. The journey of Jockey retail has been full of successful milestones and has continued to gather pace as it progressed over the years,” said, Rahul Shukla, Chief Retail Officer (CRO), Jockey.
As per the company, Jockey’s market share in the men’s innerwear category is only around 18 per cent and there is enough room for growth for the company into the segment.