With its focus on product development, implementation of state-of-the-art technology and innovation, the company has targeted USD 1 billion in sales by 2026
Over the last 25 years, Page Industries has continued to be a value-driven, fully integrated product design and development, manufacturing, sales and marketing, distribution, retail and e-commerce company dedicated to building world-class brands. Headquartered in Bangalore, the company is the exclusive licensee of JOCKEY International Inc. (USA) for the manufacture, distribution and marketing of the JOCKEY brand in India, Sri Lanka, Bangladesh, Nepal, Oman, Qatar, Maldives, Bhutan and the UAE. Page Industries is also the exclusive licensee of Speedo International Ltd. for the manufacture, marketing and distribution of the Speedo brand in India. Page Industries has increased its turnover from Rs 28,330 million to Rs 38,865 million, implying a growth of 37%.
The company crossed 100,000 multi-brand outlets in October 2021 and 1,000 exclusive brand outlets in September 2021. Sunder (Ashok) Genomal, Managing Director, Page Industries, says, “The last couple of years have prompted organisations to reassess the ways of approaching business. At Page Industries, we have worked towards leveraging our expertise to evolve in our journey towards becoming a billion dollar company. Enabling a culture of innovation, respecting our workforce and imbibing sustainable business practices have allowed us to expand and strive for excellence in the market and strengthen our position as we continue creating enriching value for our stakeholders.”
Market Presence
Page Industries has a well-established, robust network of manufacturing units, showrooms, EBOs across the country to improve supply chain efficiency. It is headquartered in Bangalore, Karnataka and spread over 2.20 million sq. feet. The company has a total of 17 operating units, both manufacturing and warehouse. The company, in line with its vision to become a billion dollar business, has planned significant capacity expansion. The company is adding a facility in Hassan, Karnataka for raw material storage, raw material quality inspection and elastic preparatory processes. Spread over 1 lakh sq. feet, the facility is expected to be commissioned in the second half of FY 2022. Page Industries will also be setting up a manufacturing facility for men’s innerwear – Modern Classic – vertical in Odisha.
“The apparel and accessories industry in India has witnessed a significant transformation over the years and Page Industries has been at the fore of this metamorphosis through our innovation, quality, design values and reach. Today, despite several external and uncontrolled challenges, we have evolved to emerge stronger with the support of our team and the faith our customers and stakeholders have shown in us. In keeping with the changing environment, we remain focused on our strategy of retail expansion, new product introductions, digital initiatives and innovation across our business while creating sustainable and enriching long-term value for our stakeholders,” Genomal adds.
Manufacturing Capacity Expansion
Page Industries is planning an additional 40,000 sq. feet space adjacent to its existing elastic manufacturing premises at Hassan to meet the growing requirements of women’s dyed elastic.
The company has planned a ‘cup moulding and hook-n-eye forming’ project at Hassan to produce in-house bra cups and hook-n-eye forms. The project is planned by Q3 of FY23. This facility will reduce our import dependency while focusing on improving quality, lead time and cost control. Page Industries is adding a 120,000 sq. feet elastic manufacturing setup at Mysore to include imported high-end jacquard and knitted looms to produce complex technical designs in-house for the premium category.
The project is expected to be commissioned before the second half of FY23. To meet the increased demand in the premium vertical, the company is planning an 80,000 sq. feet cut-to-pack facility in Mysore. The commissioning is expected before the end of the current financial year. The work at the Odisha plant for the company’s modern classic vertical is in progress after obtaining the required approvals from various statutory authorities. The facility is planned to be commissioned in the last quarter of this year. Spread across 29 acres, the facility will have a state-of- the-art campus with central stores, elastics, socks and cut-to-pack manufacturing activities.
The facility is being built by renowned contractors and meets highest standards of IGBC certification. Page Industries is working towards significant capacity expansion in its socks division with an additional 60 advanced knitting machines at the Bangalore facility to meet demand. This is planned in Q3 of FY23. It has set up a 30,000 sq. feet state-of-the-art product design technology centre at Bangalore that has been operational from Feb 2022.
The following are the other projects in pipeline stage or in progress:
• Expansion of the warehouse at Bangalore and North India.
• NABL Accreditation Lab at Mysore facility.
• Digitisation projects in the pipeline to improve various business activities including enhancement of the floor management system, advanced planning and scheduling system, automated inspection and classification system and vendor management system.
Page Industries has also planned a 20,000 sq. feet yarn and greige fabric store at Tirupur to cover strategic stock positioning, contributing significantly in a volatile commodity market for yarn. This facility is expected to be commissioned during the first quarter of the current financial year. The company has undertaken several energy-saving and compliance initiatives that are in line with its sustainability philosophy and engaged with supply partners in RSL, Oekotex and ZLDC. Its units participated and won the 5S sustenance level award, EHS award and the NAMC Gold award. “With continued support from JOCKEY International, USA, Speedo International, UK, and access to ideas, trends and innovations from 40 other JOCKEY international licensees throughout the world, Page Industries stand by its long-term commitment to novelty and innovation,” Genomal says.
“This could be in product design, technology upgrades, back-end processes or marketing. With its strong in-house product development, back-end capabilities, manufacturing expertise and continuously evolving state-of the-art technology, combined with a very strong distribution network, the company remains optimistic about the prospects of the brand and expects continued healthy sales growth and profitability in the coming years, further consolidating its position in the premium market for innerwear, athleisure, socks, swimwear and swimming-related equipment,” he adds.
Focusing on a Sustainable Future
Sustainability is also the core of operations Page Industries. “We strive to build a culture of sustainability in which all our stakeholders embrace shared beliefs on the importance of balancing economic efficiency, social equity and environmental accountability. We are respectful of the environment we operate in and we take special care in nurturing a business model that stands on the pillars of excellence, innovation, integrity and transparency while creating shared value for the society,” Genomal states.
“Our market has tremendous opportunities for growth across the innerwear and athleisure segment. Our discerning customers’ choice for premium products allows us to look at growing across categories. While our vision is to cross USD 1 billion revenue by 2025-26, we are working on accelerating this with a strong and proven business model, wide product portfolio and efficient financial management. We have a very loyal customer base and we remain committed to continue creating value for all our stakeholders,” he adds.