VIP Clothing to target premium segment to spur growth

The innerwear company, which has 15-20 per cent share in the organised men’s innerwear market, is working on infusing new funds and also focusing on distribution and branding strategies.

HYDERABAD: VIP Clothing, one of the leading players in men’s innerwear segment, is focusing on premium segment to increase its market share and spur growth.

The innerwear company, which has 15-20 per cent share in the organised men’s innerwear market, is working on infusing new funds and also focusing on distribution and branding strategies to achieve the targeted growth in the premium segment.

“The size of the organised inner wear market in India is about Rs 15,000 crore, among which premium category accounts for about 15 per cent. Already, we are an iconic brand with slightly premium tag in terms of both quality and price. As we are one of the few companies in innerwear market with our own distribution-led model, we will have an edge in penetrating the premium segment,” explained Yogesh Tiwari, CEO, VIP Clothing, speaking to Express during the launch of VIP Regal and Frenchie Casuals premium varieties in Hyderabad on Thursday.

“Right now we are a Rs 250-crore company, eyeing a turnover of Rs 300 crore by 2020. We are in the process of raising Rs 50 crore through rights issue to achieve our target. We have already got in-principle approval from BSE and NSE and are awaiting Sebi’s nod. We are confident of completing the whole exercise in the next two to three months and raise additional funds,” added Kapil Pathare, director, VIP Clothing Ltd. The additional funds will be used for branding and working expenses.

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