Page Industries
| Example |
Page Industries, also known as Jockey India, is a publicly listed company (BSE:532827) (NSE:PAGEIND) which is the licensee of Jockey Underwear and Speedo in India and Sri Lanka. It was founded in 1995 by the Genomal family and is currently managed by Pradeep Jaipuria as CEO and the Genomal family. It became a public enterprise on July 29, 2007 at a stock price of 600 INR and today has a value of 11.7 billion INR, with a stock price exceeding 7000 INR for the first time after growth of over 39.7% was announced in May 2014, and it reached a high of 8205 INR in mid-June of that year. Stock price is in excess of 14,500 INR in May 2015. The company's main focus is to serve as the prime international licensee of Jockey in the South Asia region and in the Asia-Pacific region as a whole. Consequently, it has approached the industry using traditional methods of sales to the target market of young, independent men, but significantly has innovated to cater to women in a specific women's inner wear range, identified by the Economic Times as a "clever innovation."
Beginnings
Vehromal Lilaram was born in tehsil Mirpur Khas, Hyderabad, Sindh in British India in the 1850s. He came from a family of successful traders of the Bhaibund caste, and attempted to diversify his business by seizing the opportunity to relocate abroad. In 1889, in his late 30's, he moved to the Spanish colony of the Philippines and remained there until his death several years later, while his family remained in Sindh. Also in that year, his nephew, Tuljaram Fatechand Mirpuri, moved to the Philippines to assist his uncle. In 1923, Tuljaram's young son, Genomal Vehromal, then only 15, moved to the Philippines to assist his father in his work in the cities of Angeles, Pampanga City and Manila. By this time, the company had grown into one of the largest Indian-run companies in the Philippines, which was by now an American colony. The company was largely untouched by the impacts of the Depression as it manufactured stable goods required for subsistence among the population. In the early 1930s, Genomal, now a seasoned businessman, formed a partnership with the Uy brothers (later to become Mayors of Manila), and they began to trade in goods such as brewed spirits and other popular consumer items, shifting the company's focus to mirror the economic climate.
World War II
On 8 December 1941, the Commonwealth of the Philippines declared war against the Axis powers. During the Japanese occupation, the business continued to covertly supply military uniform and other military accessories to Allied forces, with the ultimate goal of liberation. Genomal and Uy were recognised for their efforts at the end of the War by the granting of official letters of thanks and the award of honours from the Philippine and Allied governments.
1958-1994
Since 1958, Coopers-Jockey and GTVL have been partners in undergarments distribution in Asia. They celebrated 25 years of partnership in 1983 and 50 years in 2008, with the lease renewed "for 50 years...after 2058 for an indefinite period...". Genomal died in 1980, leaving his wife, Parpati (1916–2003), and eight children-Mohan, Nari, Vandana, Ramesh, Asha, Rajini, Ashok and Mona. Nari, Ramesh and Ashok are the three primary shareholders in Page Industries, as foreign promoters. They have received "Best Licensee of the Year" 7 times from Coopers-Jockey and 5 times from Jockey. Inc, most recently in 2013.
1994–present
The Genomal brothers founded Page Apparel in 1994 at the request and suggestion of Jockey's senior leadership. Based in Bangalore, India, the company was not publicly listed until July 29, 2007, when it had 5,000 staff. In 2013, Page received the prestigious Star SME (Small/Mid-Capitalisation Enterprise Award) from His Excellency President Pranab Mukherjee, President of India, in the presence of the Vice President and Chief of Staff. The company was hailed in the media as a "success" for this achievement.
| Chairman: Nari Genomal CEO: Pradeep Jaipuria, MD: Ashok Genomal, Executive Director: Ramesh Genomal |
| Market Capitalisation: Rs. 160,210 million ($2.593 billion) (2015) |
| Profit: Rs. 11,700 million ($187.2 million) (Q2, 2014) |
| Staff: 23,000 |
| Campus: Bomanahalli Road, Bangalore, Karnataka, India |
| www.jockeyindia.com |