Foray into children’s wear paying dividends: Page Industries

Page Industries on Thursday said foraying into the children’s wear segment through exclusive women’s wear stores was a smart thing to do.,

The company is the exclusive licensee of Jockey International Inc. (USA) for the manufacture, distribution and marketing of the Jockey brand in India, Sri Lanka, Bangladesh, Nepal, Oman, Qatar, Maldives, Bhutan and UAE.

Page Industries, Managing Director, V.S. Ganesh said, “Our strategy of introducing children’s wear across exclusive women’s ear stores has shown good results and we are confident of making inroads into this nascent and fast-growing segment.’‘

Tier 2 and 3 centres were also becoming an important marketplace for the company given the increased awareness of healthier lifestyle and availability of quality, functional innerwear and athleisure wear, he added.

Page Industries had posted a multi-fold increase in net profit to ₹207 crore and an almost threefold growth in revenue to ₹13,41.3 crore in Q1FY23.

The company’s cash and cash equivalents increased to ₹314.4 crore up from ₹283.5 crore in Q4 FY22 and therefore liquidity continued to remain strong with robust cash flow management, said the company in a regulatory filing.

Mr. Ganesh further said, “Riding on the back of strong sales performance and robust financial planning, despite external challenges, we have successfully delivered yet another milestone performance this quarter.’‘

“We remain optimistic of the thriving market for our products and by banking on our pillars of quality, cost, product design and customer outreach, we will continue to deliver a wide range of premium products to our customers,’‘ he added.