Maxwell Industries: Targets Rs 1000 cr in three years

Thursday, 31 May 2012
Maxwell Industries: Targets Rs 1000 cr in three yearsOne of the oldest Indian companies engaged in manufacturing and marketing of innerwear, Maxwell Industries is targeting Rs 1,000 crores turnover in the next three years. Also on its agenda this year is opening of EBOs. “We market well-known  brands viz. VIP Innerwear, Frenchie, Frenchie X, and VIP Feelings and all their sub brands. Maxwell’s brands and their extensions have leadership position with a significant market share in their respective categories. We want to achieve the No. 1 position not only in market share but also through a clear perception that the consumer carries about the brand,” explains Sunil J Pathare, Vice Chairman and Managing Director, Maxwell Industries.

MaxwellMaxwell Industries: Targets Rs 1000 cr in three years Industries is present throughout the spectrum of innerwear industry, with VIP innerwear in the budget and economy segment; Frenchie, a generic brand offering briefs; and Frenchie X in the premium segment for youth. In the women’s lingerie segment, VIP Feelings represents Maxwell Industries. This brand is known for its innovations and creation of categories such as nursing bras and sanitary panties. Talking about the inception and journey of VIP, Pathare elaborates, “Maxwell entered the category when it was completely a commodity market, in the year 1971. It created the brand VIP and started the most complicated process of creating a brand in a commodity market. We were the only player till the mid-eighties who were pumping money into this category for creating a brand. It has definitely paid off as far as VIP is concerned. We have seen the consumer evolving from commodity to brand to international brand. The trade has shifted from wholesale to distribution to modern trade to exclusive brand stores.”

Today, the group has a dealer network of 550 and 1,10,000 retail outlets in India alone with a potential for growing even more, which the group is intent on exploiting. “Maxwell Industries today boasts of six regional offices with a sales force of over 150 highly motivated individuals throughout major towns. The brand range starts with VIP (Male Mid Segment), Leader (Male Economy Segment – Largely Rural India), Frenchie (Male Premium Segment), Frenchie X (Male Premium Segment), Feelings (Female Mid and Premium Segment) and BRAT (Unisex Kids’ Brand on Mid and Premium Side),” adds Pathare.

Moving ahead, the company now wants to explore and focus on socks and thermals. Maxwell is also into exports exporting mostly to Middle East, Africa and some European countries.