VIP Clothing reports for Q3FY23
VIP Clothing reported a net loss of Rs 3 crore for the third quarter ended December 2023, as against a net profit of Rs 5 crore during the corresponding quarter last year.
The company’s revenue increased by 2 per cent to Rs 45 crore during the quarter as against Rs 44 crore in the corresponding quarter last year.
VIP Clothing also onboarded 20 new distributors during the quarter to to bolster its market presence. Additionally, it introduced three new products under the Feelings and Leader brands.
A company spokesperson emphasised, VIP is in the midst of a transformational journey, prioritising sustainable sales practices, safeguarding operating margins, and enhancing overall efficiencies. The company is committed towards expanding consumer reach, enriching product offerings, and driving operational excellence.
VIP Clothing plans to improve the contribution of its newly launched products to revenue diversification by allocating dedicated marketing resources for their promotion. The company is a specialist in manufacturing, marketing, and distributing men’s and women’s innerwear under renowned brands such as VIP, Frenchie, Feelings, and Leader.
