Jockey to expand offline presence 20,000 MBOs by FY23
29 August 2022, Mumbai
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, says, Karthik Yathindra, Chief Marketing Officer, Page Industries.
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.
The company claims that metropolitan and Tier I cities account for about 55 percent of the overall business whereas the share of Tier II and Tier III cities stands at about 45 percent 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, and Nykaa, among others, besides its own website. Furthermore, the athleisure segment accounts for about 25 percent of the overall business of Jockey.
For the quarter that ended June 30, 2022, apparel manufacturer Page Industries, the exclusive licensee of Jockey International, reported net revenue of Rs 1341.3 crore, thereby clocking a 167 percent Y-o-Y and 21 percent Q-o-Q. Its net profit for the period stood at Rs 207 crore.
The brand recently unveiled its latest campaign ‘Luxury by Design’ across digital and outdoor mediums to showcase the range of premium innerwear collections for men.
The 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, adds Yathindra.
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