Innerwear and athleisure brand Jockey plans to expand its presence across 20,000 multi-brand retail outlets by the end of FY23 taking the total count to about 1,20,000 stores, Karthik Yathindra, chief marketing officer, Page Industries, told BrandWagon Online. The company further aims to add 200-250 exclusive brand outlets (EBOs) by the end of this fiscal. As of now, it has about over 1,100 EBOs across the country. “On the offline space, we aim to get deeper in terms of the number of cities we are present in,” Yathindra added. The brand is currently distributed in over 2,800 cities.
The company claims that metropolitan and tier 1 cities account for about 55% of the overall business whereas the share of tier 2 and tier 3 cities stands at about 45% for Jockey. Furthermore, it claims that the share of online business has grown to eight percent, from about three to four percent when compared to the pre-pandemic times. Jockey sells through e-commerce marketplaces such as Amazon, Flipkart, Myntra, Nykaa, among others, besides its own website. Furthermore, athleisure segment accounts for about 25% of the overall business of Jockey.
For the quarter ended June 30, 2022, apparel manufacturer Page Industries, the exclusive licensee of Jockey International, reported a net revenue of Rs 1341.3 crore, thereby clocking a 167% year-on-year and 21% quarter-on-quarter. Its net profit for the period stood at Rs 207 crore. “Our strategy to introduce kids wear across exclusive womenswear stores has shown good result and we are confident of making inroads into this nascent and fast growing segment. Today, tier 2 and 3 centres have also become an important marketplace for us given the increased awareness of healthier lifestyle and availability of quality, functional innerwear and athleisurewear,” V.S. Ganesh, managing director, Page Industries, stated.
With an aim to increase its visibility, the company claims to have increased its marketing spends in FY23, when compared to the previous fiscal. Typically, the company claims to spend about four to five percent of its revenue on advertising. This fiscal, about 70% of the ad spends has been directed towards the digital medium on platforms such as social, OTT, YouTube, among others for Jockey. “On the traditional media side, outdoor (OOH) is key and TV will be used based on objectives of that particular campaign,” Yathindra stated.
The brand recently unveiled its latest campaign ‘Luxury by Design’ across digital and outdoor medium to showcase the range of premium innerwear collection for men. “Our latest campaign highlights the importance of the category to the overall brand and how Jockey remains committed to offering the best product to all its consumers,” Yathindra added. As per the company, men’s innerwear accounts for about 40% of the business and continues to grow.
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