Jockey in India – Riding through Opportunities and Challenges in the Indian Innerwear Market
Code : MM0091 |
Region : Asia |
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Background Note: The origin of Jockey dated back to 1876, when Samuel Thrall Cooper started a socks and hosiery business in Michigan, United States, called S. T. Cooper & Sons. It was incorporated as Cooper & Company in 1900, and began manufacturing men’s underwear under the brand name White Cat. The company’s name was changed to Coopers Inc. (Coopers) in 1929. A revolutionary design in men’s underwear with a Y-shaped overlapping fly was introduced in 1935, and was named Jockey, as it offered support like a jockstrap . Jockey was also the first to stitch the brand name on the waist band of its inner wear, so as to be prominently visible; and this was in 1947.. |
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The Indian Innerwear Market: Before the entry of Page Industries (through the Jockey brand), innerwear was sold in India almost entirely by small mom and pop apparel and novelty stores, with hardly any in-store display. In those days, innerwear was just a commoditized functional product, and not a fashion brand. The packaging was poor and flimsy..
Jockey’s Products and Production: Jockey’s product range in India included men’s and women’s innerwear, athleisure wear (outer wear for sports/athletics and leisure – including nightwear –for both men and women), thermal wear (for men, women, & kids), kids wear (inner wear and outer wear for both boys and girls), and accessories (such as socks, towels, caps, hand kerchiefs, and face masks)..
Jockey’s Distribution Network: Page Industries decided to make a significant departure in the way innerwear was promoted and sold in India. One of the challenges was to get distributors and retailers who would be willing to tread a new path. It organized seminars at star hotels in seven cities to which many prospective distributors and retailers were invited..
Advertising Campaigns & Promotions: Until 2008, Page Industries had been using international marketing content for its advertisements. In 2009, it decided to create customized content that would be relevant in the Indian context. Thus, the ‘Just Jockeying’ campaign was launched with outdoor hoardings and print advertisements..
Competitive Landscape: When Jockey re-entered India in 1995, the prominent men’s innerwear brands were Lux, Dollar, Dixcy, Rupa, Tantex, Temple, and VIP. The well-known women’s innerwear brands in the organized sector were Daisy Dee, Featherline, Bodycare, and Libertina. Most of these were in the economy and mid-range segments..
Road Ahead: The Indian innerwear market began witnessing a series of changes starting with the 2010s, with several new and more dramatic transformations coming in during the early 2020s..
EXHIBITS:
Exhibit I: Page Industries Ltd – Timeline
Exhibit II: Page Industries Ltd – Sales and Profit after Tax (1995-96 to Q4 of 2022-23)
Exhibit III:
Page Industries Ltd – MBO & EBO Network (2006-07 to Q4 of 2022-23)
Exhibit IV: Indian Innerwear – Hierarchy of Brands
Exhibit V: Sales Turnover/Total Income of Selected Innerwear Companies in India
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