In the June 2015 quarter, Page Industries, licensee of Jockey Underwear and Speedo in India and Sri Lanka, has registered 16 per cent year-on-year with a turnover of US $ 67.12 million. The growth, lowest since FY10, is being attributed to delay in new launches in the sports segment (19 per cent of revenues) and slowing growth in the men’s innerwear segment (60 per cent of revenues).
The women’s innerwear segment, however, has remained unaffected. Analysts though don’t seem to be too worried with Page’s strategy of increasing ‘premiumisation’, new product launches and re-launches across all segments. Page’s entry into swimwear category via Speedo products will enable it to diversify its revenues and better leverage its strong distribution network of about 30,000 retail outlets.