Competition for Page Industries, Jockey’s India licensee, is intensifying even as the innerwear giant’s key bets are a long way from paying off.
It’s no longer “Jockey or nothing”. While the tagline may be ambitious, India’s largest innerwear brand seems to be losing its appeal. And the signs are hard to miss.
In June, Marcellus Investment Managers exited Page Industries, which licences products of innerwear and loungewear brand Jockey International in India. The reason: a lower-than-expected rate of return because of a sharp surge in Page Industries’s stock. As if that weren’t enough, the following month, Saurabh Mukherjea, the well-known fund manager and founder of Marcellus, said he has switched from Jockey's Rs 200 underwear to the Rs 100 ones offered by Zudio, …
Neethi covers healthcare and consumer retail at The Morning Context. Previously, she worked at Moneycontrol, where she wrote about pharmaceuticals and healthcare.
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