Page Industries Warns Of Short-Term Headwinds In Apparel Sector As Consumer Sentiment Wavers
Despite short-term headwinds in the apparel industry, Page Industries believes that the long-term growth prospects remain robust.
The Indian apparel retail sector faces short-term headwinds due to dampened consumer sentiment, warned Jockey India licensee Page Industries. However, the demand for athleisure remains strong primarily driven by instant delivery apps as quick commerce is increasingly becoming a preferred option even for non-grocery and larger items.
"Athleisure and innerwear are poised as pivotal growth drivers, complemented by the proliferation of organised retail and e-commerce," the company said in a statement on Wednesday. Despite the short-term headwinds in the apparel industry, Page Industries believes that the long-term growth prospects remain robust, propelled by economic expansion, urbanisation, and rising disposable incomes.
The company reported a net profit of Rs 205 crore for the third quarter of fiscal 2025, marking a 34.3% jump over the same period last year. Revenue grew by 7.1% year-on-year to Rs 1,313 crore driven by higher demand for Jockey products on quick commerce and e-commerce platforms.
India's athleisure market, valued at $673 million in 2022, is projected to approach $2 billion by 2029. Jockey, the market leader in the premium innerwear and leisure wear category, is distributed in 2,710 cities and towns through 1,436 exclusive stores and more than a lakh multi-brand outlets.
"We are perfectly positioned to seize promising future growth opportunities, with modern retail and e-commerce continuing to serve as powerful growth engines," the company's managing director, V S Ganesh, said.
