03 November 2021, Mumbai:
Knitwear company Rupa’s profit increased 17 percent for the September quarter, helped by higher sales and cost reduction strategies. Sales increased 21 percent. The company has seen improved traction during festivities and expects a much better second half of the year.
Focusing on increasing sales volumes with changes in the product mix, Rupa plans to increase its share in the premium and super-premium category, improve its focus on women’s wear, casual wear, and thermal wear, and foray into newer markets with higher penetration in the existing markets.
With a focus on increasing the distribution network across India, Rupa expects this cost to remain at a similar level going ahead. Ebitda and profit increased on the back of improved operating efficiencies and cost reduction strategies.
With a focus on improving the product mix, a comprehensive product portfolio, deepening reach along aggressive management focus, Rupa is well poised to outperform industry growth and gain market share.
The innerwear category, estimated at Rs 30,000 crores, accounts for ten percent of the total apparel market and is expected to grow at a compounded annual growth rate of 10 percent over the next decade.
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