Union Knopf (India)

ResourceCENTER
A&F: How much do you
manufacture monthly?
Aayush: Our domestic business is of a
higher magnitude compared to
exports. We produce about 30,000
thousand dozen socks every month
and out of this 65% is for the domestic
market and the rest 35% is for exports.
A&F: What is the strategy of
company to grow and expand?
Aayush: Currently, the primary focus
is to expand in the domestic market,
but we aspire to grow in the export
market as well. From 2015, onwards
we initiated our expansion drive we
have also constituted a new marketing
team. We believe that we would be
able to be grow, only if we are able to
meet all the requirements of all
domestic customers. We started off
with men socks and now we do men’s,
ladies, kids’. The variety that we have
been able to achieve is due to the fact
that we use a very diverse range of
technology, fibers and fabrics. Be it any
domestic manufacturer or any exporter
no one has been able to match the
range that we offer.
A&F: Kindly describe your vision
and plans for the future?
Aayush: Our original focus since
2007 has basically been to own
analysis trends, but in order to develop
in each category, to justify each sub
category within socks we need some
depth. We will be working with some
brands in India including Shoe brands
and private brands. Soon we would be
working with some of them.
A&F: When you compare exports
with domestic sales, does the
demand in terms of capacity
satisfy you?
Aayush: Largest brand in India is
BONJOUR having a turnover of 40
crores compared to whom we have a
long way to grow. Our new brand is
‘Soxytoes’ which is all about prints and
colours in socks. Our priority is online
e-commerce space as traditional retail
is based on old linkages and we are a
relatively new company.
A&F: Where do you compete and
position yourself as compared to
others?
Aayush: There are 3 different ways to
sell socks, first is to sell it as a
functional product; second is to sell it
as a comfort product; and third is to
sell it as a fashion product, which is the
latest development for the last five
years. Things have changed a lot as
fashion consciousness is coming in the
age group of 50 and above also. We are
not driven by merely what sells. For
example our brand Ashwati is all about
comfort, Arrow is all about formals
and casual fashion and high quality,
Soxytoes is all about young fashion.
A&F: How has the taste of
consumers changed over the
years with regards to purchase
of socks?
Aayush: The size of the market
especially demand from the middle
class in India is growing at a fast pace,
hence affordable socks has a big
market. Color plus, Raymond, Allen
Solly have a good range and Peter
England, which is affordable also has a
distinct range. Fashionable socks adds
colour to one’s wardrobe especially as
there are a range of options in socks
from office wear, casual wear and be it
the young or the middle aged all are
looking for fashionable socks now.
A&F: How is the response for
such socks in India?
Aayush: The response is good and
awareness level is going up for the
functional finishes we do in
‘Akashrrapati’ we also do the same for
Arrow. In India, today every Indian is
looking for additional value in the
products. In the next three years we
expect to see strong growth in India as
it catches up with rest of the world as
far as fashion in socks is concerned.
The change is rapidly coming to a
traditional segment.
A&F: What type of technology
you use?
Aayush: We need a socks making
machine, separate machine which can
manufacture only socks. If you want to
buy cutting edge technology you have
to buy the Italy made machines. In
printing digital printing is catching up,
which prints with reactive dyes on
cotton socks. We have got one
machine, it is a Chinese brand
Monotac. They are very effective in
digital printing and now they have
converted that machine to product
with low input socks.
A&F: How is the export business
going for socks?
Aayush: We are chiefly exporting
classic high end products in socially and
environmental compliant set up. We
export a lot of perfumed socks and they
are all through microbe’s capsulations
product range having 20-30 washes
guaranteed. Since our sales volume has
picked up since the last year we expect a
strong growth in the next 3 years
A&F: You have talked about
expansion, was the expansion
meant to be in terms of capacity
or your brand presence or new
additions?
Aayush: Obviously it is in terms of
capacity. Also, there is a new brand
which is Soxytoes. Our intention is to
be present across other brands with
our wide, value added and high quality
products.
APPAREL&Fashion
January 2017
59