Jockey

VMRD - - Contents - Chanda P Ku­mar

From in­vent­ing the first ever men’s brief in 1934, to de­vel­op­ing un­der­wear for astro­nauts of NASA’s Apollo Mis­sion in 1962, or set­ting bench­marks in the in­ner­wear cat­e­gory with ground­break­ing ad­ver­tis­ing, Jockey con­tin­ues to de­fine the in­dus­try. Gain­ing pop­u­lar­ity though the dis­tri­bu­tion net­work in In­dia, the brand is now fo­cus­ing on brand out­lets and en­hanc­ing brand ex­pe­ri­ence for the cus­tomer.

Jockey, as a brand plays a very im­por­tant role in the daily life of mil­lions and prob­a­bly the most pop­u­lar in­ner wear la­bel in In­dia and across the globe. Founded in 1876, Jockey has a rich his­tory as one of the ap­parel in­dus­try’s orig­i­nal pi­o­neers and in­no­va­tors. Jockey In­ter­na­tional made its en­try into In­dia in 1995 through an ex­clu­sive li­cense agree­ment with Page In­dus­tries Ltd as known to­day. To­day, Jockey is avail­able in more than 370 EBOs and dis­trib­uted in over 50,000 multi-brand out­lets across 1400 cities and towns in In­dia.

VM&RD caught up with M.C. Cari­appa, Pres­i­dent - Sales & Mar­ket­ing, Jockey In­dia who shares the brand’s ag­gres­sive re­tail ex­pan­sion plan and how Jockey is con­stantly up­grad­ing it­self to stay rel­e­vant to the new-age shop­per.

Tell us about your re­tail ex­pan­sion strat­egy for this year.

When it comes to EBOs, we work on fran­chise owned and op­er­ated model. We do not open store blindly, how­ever we do have a tar­get to ar­rive at this year. We should be end­ing at 450 store by March 31, 2018. Jockey In­dia was de­vel­oped through the dis­tri­bu­tion chan­nel, and the strength

lies in the dis­tri­bu­tion. About 92% of our busi­ness is through the dis­tri­bu­tion model, and EBOs buy from dis­tributers for the sim­ple rea­son that he needs sup­ply ev­ery day.

How im­por­tant is an ex­clu­sive brand out­let for a brand like Jockey. What are your plans for this for­mat?

EBO is a very im­por­tant chan­nel for us, which started with our first out­let of 400 sq ft that was opened in Com­mer­cial Street, Bangalore. At present, our 375 EBOs con­trib­ute to 15% of our rev­enues. The range of Jockey can­not be fully show­cased in MBO or LFS, hence EBO gives dif­fer­ent shop­ping ex­pe­ri­ence and the cus­tomer is ac­tu­ally in­tro­duced to other cat­e­gories like lounge wear, tow­els, socks, etc. We will con­tinue to ex­pand de­pend­ing on the catch­ment ar­eas. Most of my EBOs are re­quest­ing more fran­chisee out­lets, but we in­sist that it must make sense to the fran­chise owner and Jockey it­self in terms of ROI. We have as­pi­ra­tions of rev­enue from EBOs cross­ing 25-30% of the com­pany’s turnover. The dream is 1000 EBOs by 2020.

How does Jockey as a brand stand­out in large for­mat store and how well has this for­mat worked out for the brand? Large For­mat Stores bring 4% of the turnover, from stores like Shoppers Stop, Life­style, Cen­tral, Reliance and the oth­ers. So with th­ese re­tail­ers we get 40% of the space in the cat­e­gory. The big­gest win for Jockey is that we have a very high PSFPD (per sq ft per day rate), where some stores we have hit Rs 130 and on an av­er­age it is Rs 60.

Now we are be­ing looked at as a life­style in­ner­wear brand, so in Cen­tral we rolled out the shop-in-shop con­cept. Oth­ers are com­ing for­ward, as they see higher re­turns.

Tell us how Jockey In­dia has up­graded its re­tail ex­pe­ri­ence across for­mats to cap­ture new-age shoppers.

Re­tail has never been our forte, as we have sold through dis­trib­u­tors, but now we have visual mer­chan­dis­ers in each zone and re­tail plan­ning across EBOs, MBOs and LFS. About 50% of our mar­ket­ing bud­get goes to­wards en­hanc­ing store ex­pe­ri­ence, in­store mar­ket­ing, etc. as the point of truth is at the re­tail point. Go­ing for­ward, you will see Jockey in a new look and feel in the next 6 months.

An­other point is that mar­ket­ing or ad­ver­tis­ing women in in­ner­wear cat­e­gory is a big chal­lenge in ATL like hoard­ings, where we have had to lit­er­ally pull down some and re­ceived ob­jec­tion through letters from so­called ac­tivists. So in-store is the only space we can com­mu­ni­cate ef­fec­tively.

There has been a tran­si­tion in VM and store ex­pe­ri­ence, we will soon have dig­i­tal cat­a­logues from where con­sumers get full prod­uct info and it also help us up­date the sales staff on the mer­chan­dise com­mu­ni­ca­tion.

What new cat­e­gories are you fo­cus­ing on?

We have ex­tended our of­fer­ing to add tow­els, socks, lounge wear and kids. The idea for Kids range was born from the need that when women shop for them­selves, they can even buy the nec­es­sary prod­ucts for their kids too. An­other break­through is the out­er­wear range, which is a very big fo­cus cat­e­gory for us since past two years. About 28% of rev­enues come from this cat­e­gory. •

M.C. Cari­appa, Pres­i­dent - Sales & Mar­ket­ing, Jockey In­dia

Jockey re­cently cel­e­brated 141 years of legacy with an in­ter­est­ing pop-up mu­seum in Bangalore

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