MANAGING DIRECTOR'S MESSAGE
9th November 2017
It is my pleasure to share with you that we have registered a growth of 16.75 percent in sales for the quarter ending September 2017, over the corresponding quarter of the previous year. Our sales touched Rs.617.68 crores in this quarter. The net profit for the period was Rs. 84.05 crores, a growth of 22.41 percent.
For the half year ended September 30th, 2017, sales were recorded at Rs.1306.21 crores, a growth of 19.38 percent. Net profit for the period is Rs.169.35 crores, a growth of 23.97 percent.
The Company has witnessed encouraging sales growth in the second quarter of 2017-18 in both volume and value. To add to this, we have made remarkable strides in the areas of distribution, retail expansion, automation and brand building in this quarter. We have strengthened our supply chain through process and technology improvement in this quarter which has helped us with better control on inventory and improved speed-to-market.
We inaugurated our 384th JOCKEY Exclusive Brand Store this quarter. With 286 Exclusive JOCKEY Brand Stores in High Streets and 98 in Shopping Malls with high footfalls across the country, we continue to provide a truly international retail experience to all our consumers. This quarter also saw a very good penetration of our Active Bra range for Women and Sports Performance range for Men in innerwear and outerwear in the Exclusive Stores. A combination of product range representation and visual merchandising at these Exclusive Brand Stores has further accentuated our brand imagery.
The second quarter saw the unveiling of our #ThereIsOnlyOne pop-up museum in Bengaluru and Mumbai to celebrate brand JOCKEY'S incredible journey of 141 years. The museum brought alive key milestones such as the invention of the brief in 1934, the revolutionary Y-front design of 1935, the 'Cellophane Wedding' in 1938 which was the world's first fashion show for innerwear, the special line of underwear created for NASA's Apollo mission in 1962, introduction of the first men's bikini brief in 1969, pioneering the use of box packaging for innerwear in 1972, the first ever innerwear fashion show in India in 1995 and many more. This year also marks 70 years since JOCKEY stitched the brand name on the waist band of their innerwear. JOCKEY'S branding on the band was path-breaking, and broke out into a global trend which is seen across brands even today. JOCKEY is an iconic brand that is built on the trust of our consumers and therefore we were thrilled to offer them the unique opportunity to experience the brand's evolution in an exciting and engaging way.
Our new marketing campaign for JOCKEY Active Bra and Sport Performance was launched this quarter. Television was used as the key medium to drive the message complemented by Out-of-Home and Digital media. The campaign continues to resonate very positively with our target audience.
The second quarter has taken the SPEEDO brand to 1286 plus stores including large format stores across 86 cities and towns with 18 Speedo Exclusive Brand Outlets located in Delhi, Gurgaon, Noida, Mumbai, Bangalore, Chennai, Pune and Ahmedabad. The performance so far has been extremely heart- warming.
I take this opportunity to thank each and every one of you for your support, belief and confidence in Page Industries. My heartfelt thanks go to the Central and State Governments, our shareholders, financial institutions, suppliers, franchisees and to all my colleagues on the Board for their immense support and encouragement.
I wish to specially acknowledge my entire team at Page Industries for their commitment, dedication and passion towards creating and sustaining a world class enterprise like ours.
Sunder (Ashok) Genomal