‘Tier 2 and 3 centers were also becoming an important market for the company, given the growing awareness of healthy lifestyles and availability of quality, functional innerwear and athleisure wear’
‘Tier 2 and 3 centers were also becoming an important market for the company, given the growing awareness of healthy lifestyles and availability of quality, functional innerwear and athleisure wear’
Page Industries said on Thursday that it was a smart thing to enter the children’s wear segment through specialty women’s wear stores.
The company is the exclusive licensee of Jockey International Inc. (USA) to manufacture, distribute and market the Jockey brand in India, Sri Lanka, Bangladesh, Nepal, Oman, Qatar, Maldives, Bhutan and the United Arab Emirates.
Page Industries, Managing Director, VS. Ganesh said, “Our strategy of introducing baby wear in exclusive women’s ear stores has shown good results and we are confident of entering this nascent and fast growing segment.”
He added that Tier 2 and 3 centers were also becoming an important market for the company given the growing awareness about healthy lifestyle and availability of quality, functional innerwear and athleisure wear.
Page Industries had reported manifold growth in net profit to ₹207 crore and nearly three-fold growth in revenue to ₹13,41.3 crore in Q1FY23.
The cash and cash equivalents of the company increased to ₹314.4 crore from ₹283.5 crore in Q4 FY22 and hence liquidity remained strong with strong cash flow management, the company said in a regulatory filing.
Mr. Ganesh further added, “Backed by strong sales performance and sound financial planning despite external challenges, we have successfully delivered yet another milestone performance in this quarter.”
“We remain optimistic about a thriving market for our products and will continue to offer our customers a wide range of premium products by relying on our pillars of quality, cost, product design and customer reach,” he added.