There is a high chance of price hike for our products. The increase in the rate of yarn and paper cost used of packaging material which changes on a daily basis are the two major factors leading to a price hike.”
Innerwear manufacturer VIP Clothing may hike the prices of its product range by 15 percent in the coming months. “There is a high chance of price hike for our products.
The increase in the rate of yarn and paper cost used of packaging material which changes on a daily basis are the two major factors leading to the price hike,” Sunil Pathare, Chairman and Managing Director, VIP Clothing Ltd,
Even as there is increased inflationary pressure on the brand, VIP Clothing Ltd is betting on the demand for branded innerwear among consumers. “We hope to increase our revenue by 30 percent this year, mainly by expanding to new tier-I and tier-II cities,” he said.
The brand retails mainly through its distributor channels, followed by wholesale channels and also modern trade. VIP Clothing recently opened its first franchise store in Kerala and plans to open 100 franchise outlets in the next 5 years.
