Page focusing on expanding presence across MBOs, adding own retail outletsPAGEIND - 37791 Change: 531.25 (1.43 %)
News: As per media reports, innerwear and athleisure brand Jockey plans to expand its presence across 20,000 multi-brand retail outlets (MBOs) by the end of FY23 taking the total count to about 1,20,000 stores. The company further aims to add 200-250 exclusive brand outlets (EBOs) by the end of this fiscal. The company currently has over 1,100 EBOs across the country.
View: Enhancing distribution reach has been a key strategy of Page to capture demand for its products in newer geographies. The company is currently present in 2800 cities and towns and is planning to penetrate deeper into newer town and cities. The company’s strategy to introduce kids wear across exclusive womenswear stores has started to show good results and the company is making inroads into this nascent and fast growing segment. To increase brand visibility and capture demand Page is increasing its advertisement spend in FY23 ( normally the company spends 4-5% is sales annually). Also, the company is refocusing on its largest revenue segment of men’s innerwear ( 40% of total revenue) and recently unveiled its latest campaign ‘Luxury by Design’ across digital and outdoor medium to showcase the range of premium innerwear collection for men.