The Hindu Business Line : The inside story

Sensing a readiness among brand-conscious Indian consumers to lap up luxury products, Jockey is eyeing the super-premium segment and is planning more launches in this category.

Nischal Puri, General Manager (Marketing), Page Industries, the licensee of Jockey International Inc (US)

Swetha Kannan

The innerwear market is set for a spin with brands suddenly coming out of the closet. Styles, fashion, comfort are the key words. Throw in consumerism and brand-consciousness and there is a goldmine waiting to be tapped. And good old Jockey wants to make the most of it. From merchandise to consumer categories to retail ambience, the brand has it all worked out.

Jockey is looking to scale up its imagery to become a “lifestyle” brand. As Nischal Puri, General Manager (Marketing), Page Industries, the licensee of Jockey International Inc (US), for manufacture and distribution of the Jockey brand in India and Sri Lanka, reels off his wish list, one can sense his enthusiasm and optimism. Plans include beefing up the non-innerwear portfolio, women’s innerwear and the super-premium range, apart from setting up new-look retail stores designed on international lines. Says Puri: “So far, we were purely seen as an aspirational brand. Becoming a lifestyle brand is the next level of brand building. Last September, we unleashed a press campaign exclusively shot for the Indian market, positioning Jockey as a lifestyle brand. Next year, we will launch a television commercial on the lifestyle platform, conveying the brand values of attitude and comfort.”

What’s in it for women?

Like most apparel brands, Jockey too is waking up to the huge potential that womenswear has. While men’s innerwear contributes 73 per cent of Jockey’s business (last fiscal’s turnover was Rs 135.9 crore), womenswear accounts for 12 per cent. This year will see the brand pushing for women’s innerwear with great gusto.

Planned are a series of launches, including leisure wear and more lingerie styles. One will also see a range exclusively aimed at young women. All stocked in dedicated stores for women — an idea Jockey is seriously considering. Womenswear is expected to increase its contribution to sales to 13.5 per cent this year, says Puri confidently.

More than just innerwear

Jockey store in Sigma Mall, Bangalore

How can one call itself a lifestyle brand if it does not offer a range of products to choose from? An observation Jockey is well aware of.

Which is why this year, the brand will focus heavily on its non-innerwear products of outerwear, T-shirts, pajamas and gym wear. These contribute to 15 per cent of sales. More offerings are planned under this category. But whether the brand can beat its niche imagery and get people to embrace its other offerings with zeal, only time will tell. Puri, of course, is optimistic.

New economy and the road ahead

There is a sudden surge of wealth in the economy. In the last one-and-a-half years, a new consumer category has emerged - that of the super-premium, spurred by factors such as more disposable income, retail organisation and increasing brand consciousness among consumers.

The new market dynamics are promising growth under the luxury category. Consumers are eager to experience a super-premium market, says Puri.

Jockey recently launched the ‘International Collection’ of men’s tees and briefs under the super-premium category.

A year ago, it had launched a super premium line of camisoles and panties for women as well.

The organised men’s innerwear market is pegged at Rs 2,400 crore. The premium category is worth Rs 1,200 crore. But the super-premium end has a very small base at Rs 50 crore.

“But the segment is growing at 40 per cent and it won’t be erroneous to say that in two years, the segment will be doubling its growth (at 50 per cent year-on-year),” says Puri.

Women’s innerwear presents a similar picture. The overall market is estimated at Rs 3,400 crore, with premium and super-premium segments accounting for Rs 400 crore and Rs 35 crore, respectively.

Sensing a readiness among brand-conscious Indian consumers to lap up luxury products, the brand is eyeing the super-premium segment and is planning more launches in this category.

On suggestions that Jockey may have fallen behind a tad in the brand game, especially among the youth, in the face of competition, Puri springs to the brand’s defence.

With a CAGR of 30 per cent in sales, the brand is certainly doing well, he says. It still has top-of-mind recall among consumers, adds Puri.

Last year, 6.6 million consumers bought Jockey. And 60 per cent of them were in the 18-27 years age bracket, he says. “We as a brand are known for both style and comfort, keeping in mind consumer sensitivities.”

Jockey claims a market share of 25 per cent in men’s innerwear and 16 per cent in women’s innerwear — in the premium category.

About 30 per cent of Jockey’s offerings in India are made exclusively for the Indian market, keeping in mind the needs and sensibilities of the Indian consumer — in terms of fitting and styling.

An indication that the Jockey brand is serious about the Indian market, says Puri.

In fact, Jockey has an exclusive sub-brand called Jockey Zone, catering to the Indian youth. “About 55 per cent of the Indian population is less than 25 years of age. Jockey India took the lead for Indian youth with Jockey Zone. It is one of the most successful brand launches in India, at an annual growth of 45 per cent,” says Puri.

Looking ahead, Jockey wants to be known as the best displayed brand in all retail formats. Because, what’s retail today without superior shopping experience?

UK-based Concept Fresh will design Jockey’s new-look stores, which will convey a “premium, high-end, classy and sophisticated feel in-sync with the way the brand is growing,” says Puri. The brand has 28 exclusive brand outlets in the country and is retailed in 15,000 stores across 1,100 cities and towns.

While exclusive outlets are present in the metros and tier-2 cities, Jockey is also present in some tier-3 cities. The retail revolution is having a rub-off effect on tier-3 cities as well, and in the days to come, we will see phenomenal growth from here, says Puri.

“This is an era of consumer indulgence. Consumers are not withholding themselves from spending. Currently, the men’s innerwear market is growing at 24 per cent, while the women’s market is growing at 27 per cent. I foresee the branded innerwear market to grow fast by leaps and bounds. The key is in emotionally connecting with the consumer. This is where marketing will play a crucial role,” says Puri.

Jockey spends heavily on marketing initiatives, especially those below the line. About 55 per cent of Jockey’s marketing spend in India is on B-T-L initiatives, says Puri.

Apart from ramping up product lines and sprucing up its stores, the brand will soon have a celebrity face endorsing its women’s line. The hunt is on!

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