Page Industries targets $1 billion in sales by 2026

With its focus on product development, implementation of state-of-the-art technology and innovation, the company has targeted USD 1 billion in sales by 2026

Over the last 25 years, Page Industries has continued to be a value-driven, fully integrated product design and development, manufacturing, sales and marketing, distribution, retail and e-commerce company dedicated to building world-class brands. Headquartered in Bangalore, 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 the UAE. Page Industries is also the exclusive licensee of Speedo International Ltd. for the manufacture, marketing and distribution of the Speedo brand in India.

Market Presence

Page Industries has a well-established, robust network of manufacturing units, showrooms, EBOs across the country to improve supply chain efficiency. It is headquartered in Bangalore, Karnataka and spread over 2.20 million sq. feet. The company has a total of 17 operating units, both manufacturing and warehouse. The company, in line with its vision to become a billion dollar business, has planned significant capacity expansion. The company is adding a facility in Hassan, Karnataka for raw material storage, raw material quality inspection and elastic preparatory processes. Spread over 1 lakh sq. feet, the facility is expected to be commissioned in the second half of FY 2022. Page Industries will also be setting up a manufacturing facility for men's innerwear – Modern Classic – vertical in Odisha.

Manufacturing Capacity Expansion

Page Industries is planning an additional 40,000 sq. feet space adjacent to its existing elastic manufacturing premises at Hassan to meet the growing requirements of women's dyed elastic.

The company has planned a ‘cup moulding and hook-n-eye forming’ project at Hassan to produce in-house bra cups and hook-n-eye forms. The project is planned by Q3 of FY23. This facility will reduce our import dependency while focusing on improving quality, lead time and cost control. Page Industries is adding a 120,000 sq. feet elastic manufacturing setup at Mysore to include imported high-end jacquard and knitted looms to produce complex technical designs in-house for the premium category.

The project is expected to be commissioned before the second half of FY23. To meet the increased demand in the premium vertical, the company is planning an 80,000 sq. feet cut-to-pack facility in Mysore. The commissioning is expected before the end of the current financial year. The work at the Odisha plant for the company's modern classic vertical is in progress after obtaining the required approvals from various statutory authorities. The facility is planned to be commissioned in the last quarter of this year. Spread across 29 acres, the facility will have a state-of- the-art campus with central stores, elastics, socks and cut-to-pack manufacturing activities.

The facility is being built by renowned contractors and meets highest standards of IGBC certification. Page Industries is working towards significant capacity expansion in its socks division with an additional 60 advanced knitting machines at the Bangalore facility to meet demand. This is planned in Q3 of FY23. It has set up a 30,000 sq. feet state-of-the-art product design technology centre at Bangalore that has been operational from Feb 2022.

The following are the other projects in pipeline stage or in progress:

• Expansion of the warehouse at Bangalore and North India.• NABL Accreditation Lab at Mysore facility.• Digitisation projects in the pipeline to improve various business activities including enhancement of the floor management system, advanced planning and scheduling system, automated inspection and classification system and vendor management system.

Page Industries has also planned a 20,000 sq. feet yarn and greige fabric store at Tirupur to cover strategic stock positioning, contributing significantly in a volatile commodity market for yarn. This facility is expected to be commissioned during the first quarter of the current financial year. The company has undertaken several energy-saving and compliance initiatives that are in line with its sustainability philosophy and engaged with supply partners in RSL, Oekotex and ZLDC. Its units participated and won the 5S sustenance level award, EHS award and the NAMC Gold award.

Operation Expansions

As mentioned in the previous year's report, work at the Odisha plant is in progress which will be the manufacturing Company's modern classic vertical. The facility is planned to commission in the last quarter of FY23. Spread across 29 acres, the facility will have state-of-the-art facilities with Central Stores, Elastics, Socks, and Cut to pack manufacturing activities. The facility is being built by renowned contractors and meets the highest standards of IGBC certification. The Company is planning to expand the elastic manufacturing unit at Hassan to meet the growing requirements of women's dyed elastic.

The Company has planned a ‘Cup Molding & Hook-n-Eye Forming Project’ at Hassan to produce in-house Bra Cups and Hook-n-Eye forms. The project is planned to be complete by Q3 of FY23. This facility is expected to reduce import dependency while focusing on quality control, lead time, and cost control. The Company is adding a 120,000 sq ft elastic manufacturing set-up at Mysore and the facility will include imported highend jacquard and knitted looms for producing complex technical designs in-house for the Premium category. The project is expected to be commissioned before the second half of FY23. To meet the increased demand in the premium vertical, the Company is also planning an 80,000 sq ft Cutto-Pack facility in Mysore.

The commissioning is expected before the end of the current financial year. The Company is working towards significant capacity expansion in its Socks division with an additional 60 advanced knitting machines at the Bangalore facility. This is planned for Q3 of FY’23. The Company has set up a 30,000 sq ft Product Design Technology center in Bangalore and has been operational since Feb’22. The Company has also planned a 20,000 sq ft yarn/ greige fabric store at Tirupur to cover strategic stock positioning, contributing significantly to a volatile commodity market for yarn. This facility is expected to be commissioned during the first quarter of FY 23.

The following are other pipeline projects • Expansion of the warehouse in Bangalore and North India. • NABL Accreditation Lab at Mysore facility. • Digitization projects are in the pipeline to improve various business activities which are summarized below: – Enhancement of floor management system – Advanced planning and scheduling system Automated inspection and classification system – Vendor management system