Top innerwear brands – Page, Lux, Dollar, VIP – post strong Q2 results

Top innerwear brands have posted strong year-on-year growth in Q2 of FY ’25. The Y-o-Y growth in Profit after Tax (PAT) remained impressive as Dollar Industries achieved 6 per cent growth, Page Industries registered 29.9 per cent growth, Lux Industries clocked 32 per cent jump and VIP Clothing saw the biggest growth with 132 per cent surge.

Common reasons for enthusiastic results include positive market sentiments as apparel retail market is poised for significant growth aided by young consumer base, rising disposable incomes, growth of e-commerce space and rapid urbanisation.

The brands’ tailor-made strategies have worked well as Page Industries, the manufacturing and retail licence of Jockey brand and having around 1500 exclusive stores, focused on new product launch and its auto-replenishment system continues to improve inventory health of the distributor network resulting in better secondary order fulfilment.

Under ‘Project Lakshya’, Dollar Industries onboarded 6 new distributors in Q2 that helped increase the market share and boosted margins.

The brand’s revenue from e-commerce increased by 210.8 per cent Y-o-Y in Q2, contributing 5 per cent in Q2 sales and it recently has also started offering products through Swiggy, Instamart and Zepto. The company focused on 50 per cent sales growth in South India and launched a campaign with South Indian actor Mahesh Babu at the beginning of Q2.

For Lux Industries, promotion resulted well as return on every rupee spent on brand promotion for Q1 of FY ’25 was Rs. 11 while the same was Rs. 12 in Q2 of FY 25. The brand spent Rs. US $ 11.26 million during Q2 for promotional purposes.

VIP attributes its growth to the recently raised funds that helped to reduce the interest costs and supported expansion, resulting in overall growth. The company’s focus on digital channels and sustainable products contributed to higher profitability. Going forward, the brand has recently joined hands with leading platforms for Q-commerce expansion.

Also Read: Innerwear sales in India increase 80 per cent, says Unicommerce data

The only ‘loser’ in this growth-oriented segment is Rupa and Company as it achieved net profit at US $ 2.17 million in Q2 of FY ’25 which is 10 per cent down compared to US $ 2.41 million in the same quarter of last fiscal.

(Comparison on INR basis)     

 Keep following the same space for tracking future performance of innerwear companies.