Tirupur turned thier focus
With the competition in the domestic apparel market hotting up, rupee-hit Tirupur garment-exporting units are gearing up to tap the branded men’s innerwear segment in the country. They have turned their focus on the segment to get a firm foothold in the fast-growing branded innerwear garment business. Market size for men’s innerwear is estimated at Rs 4,000 crore
While Royal Classic Mills (RCML) plans to promote its men’s undergarment ‘Smash’ aggressively this year, SP Apparels (SPAL) plans to re launch its men’s innerwear range. RCML plans to consolidate Smash in southern states this year before taking it to the rest of the country in a phased manner. Although Smash is now sold in Classic Polo outlets, RCML plans to open exclusive outlets for its innerwear by the end of 2008. Sanjay Chandrasekhar, vice president (retail), SPAL, said his company will be relaunching its men’s innerwear range (socks, essentials and pyjamas) under the brand name Crocodile.
SPAL is planning to open 2,000 outlets for its innerwear products across the country by the end of next fiscal. Ahill Group, the makers of ‘Bodyglove’ T-shirts and sportswear, is also entering the segment. While established brands such as VIP, Van Heusen and Jockey are targeting the premium segment, the mass segment catering to the middle-income group offers tremendous growth potential.
This is what domestic companies have set their eyes on for enhancing their business. “There is a huge untapped market for innerwear in the country. Although non-branded products occupy a major share in the market, branded innerwear products are slowly replacing the non-branded market,” said R Sivaram, executive director of RCML. The market size for men’s innerwear is estimated at Rs 4,000 crore and is growing at a rate of 20%-25% annually.
