Speaking with Salil Chawla, Director of DFU Publications, and Harsh Saraf, Director at Super Knit Industries, on the sidelines of the Intimasia 2025 show.
We manufacture and own the Supersox brand. In the socks industry, how do you perceive the current market landscape? Which emerging categories do you believe will drive future growth?
The socks category has been experiencing consistent growth.Over the past 4-5 years, we've observed a significant transformation: socks have evolved from being mere commodities to fashion statements.
Numerous brands, including ours, are educating customers, positioning socks as integral fashion accessories. This shift suggests substantial potential for the category's future expansion.
Emerging categories gaining traction include sustainability-focused products, which are attracting a niche yet growing audience. Fashion-forward designs remain crucial, and performance socks tailored for specific sports, such as skiing or football, are becoming increasingly popular.
Regarding the retail landscape, there's a noticeable shift with the rise of quick commerce and online platforms, while traditional retail still accounts for a significant portion of sales. How do you view these changes, and where do you see the industry heading?
Quick commerce is rapidly expanding in India and cannot be overlooked. As a socks manufacturer, our strength lies in producing quality products. It's imperative to be present wherever our customers are, be it quick commerce, online, or offline channels. We're actively engaging with platforms like Zepto, Blinkit, Amazon, Myntra, and Flipkart, witnessing substantial growth across these avenues.
Currently, our online sales are growing approximately 100% year-on-year, while traditional distribution channels are experiencing some stagnation. Given that socks are often impulse purchases with minimal size concerns or returns, they are well-suited for online and quick commerce platforms.
Concerning imports, how significant is the competition from countries like China? Additionally, does India possess the capability and ambition to establish itself as a global hub for socks manufacturing?
India's infrastructure, advanced machinery, and skilled workforce position us well to compete globally. Many leading socks manufacturers, including us, have been exporting to top international brands for over 25 years, gaining valuable technical expertise and adhering to stringent quality standards.
While Chinese factories have certain inherent advantages, Indian manufacturers are bridging these gaps through continuous learning and adaptation. Although there's progress to be made, we're on a promising path to surpassing our competitors.
From a policy perspective, are there specific measures you'd like policymakers to implement to support the industry?
We would appreciate initiatives that enhance market access, similar to the support Chinese manufacturers receive. While we benefit from duty drawbacks, an increase in these incentives would be advantageous.
Additionally, efforts to connect us with international buyers and promote India's manufacturing capabilities would help position the country as a preferred sourcing destination. Changing the perception that China is the default choice requires creating a conducive environment for global buyers to consider India for bulk procurement.