Macho was launched in 2005 and has become one of the highest selling and fastest growing innerwear brand in the country. This is an exceptional achievement for a brand that has been in business for just 11 years considering the cut-throat competition in the category.
One important reason for the early success of the brand was that it came to the market with a wide offering in terms of design, colour, pattern etc. Catching up to the latest trends, innovation, comfort, product quality and new product development have always been an integral part of the research and development section of the company.
Today, Macho is the leader in the mid-segment innerwear market thanks to its quality, innovation and path breaking communication.
After securing its position as the leader in the Indian market, the brand has also expanded its footprints in other South Asian, Middle Eastern and African countries.
The brand Macho comes from the house of J. G. Hosiery Pvt. Ltd., a company in the knitwear business since 1980 with revenue over Rs 1,000 crore. The company also has other popular brands such as Amul and Sporto in the innerwear and casualwear space.
In an exclusive interview, Director, Macho, Sandeep Seksaria spills beans of strengths of the brand, product portfolio, expansion plans and a lot more.
Give us a short summary about your brand.
Macho was launched in 2005 and has become one of the highest selling and fastest growing innerwear brand in the country. This is an exceptional achievement for a brand that has been in business for just 10 years considering the cut-throat competition in the category. Today, Macho is the leader in the mid-segment innerwear market thanks to its quality, innovation and path breaking communication.
What are its core/ main strengths?
The core strengths are: quality, price range and the variety in terms of colour, design and patterns. Over the years, the brand has steadily continued its development in product innovations to make it stand out in the fast evolving fashion industry in terms of variety and comfort.
Who are your core/ focus customers?
Our focus customers are middle class and upper middle class people of Tier I, II and III cities.
Tell us about your present product portfolio.
The current product portfolio is a mixed bag of varieties in terms of designs, colors, pattern, fabric etc. We have range of products in vest and briefs segment.
What share does innerwear constitute of your total product portfolio?
Currently, the innerwear share is 100 per cent of the total product portfolio.
Tell us about your latest innerwear collection and its theme.
The list of our new collection is exhaustive. The theme is completely youth and fashion oriented in terms of vibrant colours, patterns and designs.
What are the top most innovative product in your collection?
It is very difficult to name one single product as most innovative one. Every product of our entire portfolio has some unique proposition which makes it different from other products and competition.
What are your plans regarding new product range or innerwear category expansion?
Currently, our portfolio is completely innerwear; we plan to expand into casuals and thermals very soon.
Tell us about your primary markets.
Our primary markets are northern and western parts of India.
Elaborate about your retail presence in numbers of EBOs, MBOs and LFS you currently present in?
Our presence has been strong and we have been growing exponentially. We are currently present in over 1,00,000 MBO’s and associated with around 15 LFS.
What are your plans for exploring new markets in India?
Since we are already doing well in our north and west market, we plan to grow there steadily, apart from exploring the south and east markets now.
What has been your progress through online retail?
We have been tying up with various e-commerce portals now to match the pace of growing trend of online shopping. It would be too early to measure the progress.
What was your turnover last FY (16-17) and what is your brand aiming for in the next 2-3 years?
The last year turnover was Rs 500 crore plus and in next 2-3 years we want to aim Rs 1,000 crore plus.
What has been your CAGR over the last 3 financial years and what is your brand aiming for in the next 2-3 years?
The CAGR has been approximately 20 for last 3 years.
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