Maxwell Industries: Kid’s the new focus

Maxwell Industries, the Rs 550 crores manufacturer and marketer of innerwear is known for its multi-brand strategy of catering to different segments. After creating a successful presence in men’s and women’s category, the company

is looking at establishing in the kids’ segment with its BRAT label apart from focusing on the socks and thermals category. At present it offers products under VIP (male mid segment), Leader (male economy segment), Frenchie and Frenchie X (male premium segment), Feelings (female mid and premium segment) and BRAT (unisex kids brand) reaching out to a large consumer base. The company also manufactures and markets Eminence, a European brand in India.

Talking about the company’s successful journey as an innerwear brand among the segment ruled by unbranded players, Sunil Pathare, Vice Chairman and MD, Maxwell Industries says, “Maxwell is possibly the only company and VIP, the only brand that has seen how the undergarment category has evolved in India. Maxwell entered the category when it was completely a commodity market sometime in the year 1971. It created the brand VIP and started the most complicated process of creating brand in a commodity market.”

He says they were the only players till mid 80s who were pumping in money in this category for creating a brand. It has definitely paid as far as VIP as a brand is concerned. Today, VIP is synonymous to undergarment. It has been a huge learning in last 35-40 years. The trade shift from wholesale to distribution to modern trade to exclusive brand store.

Under each brand, company has a set of products that have been developed for specific target audience and the market. Currently, its products range is present in around 50,000 MBOs across the country. Maxwell is now looking at exploring potential in the growing thermal wear category. Commenting on the thermals market in India, Pathare said, “Typically, the Indian understanding was thicker the product more the warmth. Over a period the concept is changing wherein the consumer is now looking for a product that is doing its job and allowing him to be fashionable. Hence, more evolved fabrics are being used in thermals.”

However, the only deciding factor for success in the thermals business is the climate. As far as growth is concerned, Pathare’s understanding is that there has been growth but its value wise. More and more innerwear brands are coming into the category. It’s about better products and proposition. The price points are going higher. Everybody is quite conservative and aggressive. “Conservative on volume projection and aggressive on the selling process as the product being seasonal it gets stuck for a year if not sold,” he concludes.