Key Points
Amid positive indicators for the economy such as slowing inflation and progress of the southwest monsoon, here's another that reflects optimism: inner wear sales...
Leading companies such as Page Industries, which has the rights for the Jockey brand in India, Aditya Birla Fashion and Retail, Arvind Fashions and Rupa & Co. have attested to this in earnings calls this month..
A consumption recovery of inner wear, including men's underwear, is in sight with green shoots visible in the June quarter..
Rupa said revenue grew 8% in the April-June period while volume growth was 9% "supported by strong sales in the economy." Lux Industries too reported a 9% jump in volume and revenue last quarter...
Aditya Birla Fashion and Retail's management said while the inner wear business posted growth last quarter, the athleisure segment continues to shrink due to the high base of the Covid period when multiple new brands had entered the segment due to a sudden surge in demand..
