Maxwell Industries launches ‘Inners’

Maxwell Industries, which is a part of the VIP group, launched exclusive stores, ‘Inners’, which will stock all its brands under one roof. The first store was opened six to seven months ago. An Inners store is spread out over 350-550 square feet area. The target is Tier II and III town customers, especially in South India. The stores are in the format of standalone stores in malls, high street and residential areas.

The company has been manufacturing and marketing innerwear, lingerie, readymade garments, socks and other accessories for decades. It is now trying to establish itself as an apparel brand and towards that goal entered the lounge and leisure wear category in 2014. The range on offer in this category includes capris, T-shirts, bermudas, track pants, leggings, tops and so on. This new segment helped Maxwell Industries to close at Rs 260 crores in March. For 2015-16, the target is Rs 300 crores, out of which outwear segment will contribute Rs 10-12 crores. Kapil Pathare, Director, Maxwell Industries, believes that e-commerce will be a gamechanger for the innerwear industry.

Innerwear retail in India is pegged at Rs 18,000 crores and expected to grow at CAGR of 13 per cent. Innerwear has been greatly influenced by fashion and for youngsters today, it is a style statement. Different fabrics like Lyocell, Micromodal Lycra, Tensil Lycra, Modal Lycra etc have become an intrinsic part of innerwear.