Home Fashion Homegrown lingerie brand Groversons eyes Rs 300 crore revenue in 3 years

Homegrown lingerie brand Groversons eyes Rs 300 crore revenue in 3 years

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Groversons, one of the oldest lingerie manufacturers in the country, was established in 1953 by the late C L Grover. The company first branded its products under the name Paris Beauty, which later became the flagship brand of the company.

Homegrown lingerie brand Groversons eyes Rs 300 crore revenue in 3 years
With an employee base that is 2200 strong, the group has managed to establish a wide range of products and a strong distribution network across India and abroad.

Under the able leadership of the current Managing Director, Rakesh Grover, the has achieved many a milestone – it was the first lingerie company in India to get ISO9001:2008 certification – its sales graph zooming up every year.

With state of art manufacturing facilities for its lingerie and intimate apparel line, Groversons has firmly established itself as a brand to reckon with. The Group has a production capacity of about 25 million pieces a month and now markets and sells these wide range of products different brands.

“Groversons’ flagship brand, Paris Beauty, is also the oldest lingerie brand in India today and comes with a huge variety of products – from 100 per cent cotton braziers to knitted and fasion bras, slips, camisoles, and panties. It’s an economy brand, which targets the masses,” says , Director, Groversons Group.

A second brand, Miss-T, is focused towards the changing trends of the market. This is a premium brand that targets the youth. Winta, introduced in 2012, is the group’s thermal wear brand for men, women, and kids.

Pricing Strategy & Product Innovation

“All our brands are pocket-friendly, starting at a mere Rs 100 and going up to Rs 900 for thermal wear for adults. The group is also good at keeping up with the times, periodically introducing new collections, the latest being a padded collection in a wide range of solids and prints and a sports range to wear in the gym, while doing yoga and even running,” says Siddharth, adding, “We also have a plus size collection, in vivid colors and lace designs, which has amassed quite a following in the market and has raked in a good amount of revenue.”

Groversons is all set to introduce specialized cups and fabrics for ladies, which are not yet in the market as well as a new multi-way style, which is deigned more technically and can be worn in a number of ways.

Retail Presence

With an employee base that is 2200 strong, the group has managed to establish a wide range of products and a strong distribution network across India. It also has a retail presence in Dubai, Saudi Arabia, Iran, and New Zealand.

“We plan on expanding its product ranges in the same categories as there is a huge growth opportunity in this market. We currently have 15 EBOs, and retail from 16,500 MBOs,” states Siddharth.

“We see a huge source to grow in the South Indian market as the product acceptability is high and we see a gap that can give us a spurt,” he adds.

Online Reach

The brand is doing well online now, upgrading the whole online ecosystem from its website. Groversons is also selling its products from various e-commerce portals, which has given online revenues a boost.

“In the last fiscal, we have seen a healthy turnover of Rs 150 crore, growing at a CAGR around 20 to 25 per cent approximately, and we plan on crossing the Rs 300 crore mark in the next three years,” concludes Siddharth.