Company to grow by 10-13% next year: Raj Kumar Jain, Managing Director, Bonjour
16 November 2024, Mumbai
Leading socks manufacturer, Bonjour is set to grow at a projected rate of 10-13 per cent next year, according to Raj Kumar Jain, Managing Director.
Since its establishment in 1988, Bonjour has seen steady progress. Currently, the brand operates 15 exclusive brand outlets (EBOs) and has a presence in over 12,000 multi-brand outlets (MBOs) with the support of 180 distributors.
The company reports an annual turnover of Rs. 250 crore, with 80 per cent of revenue coming from domestic sales and 20 per cent from international markets. Around 85 per cent of the brand's revenue is primarily generated offline with e-commerce contributing 12 per cent and quick commerce making up the remaining 3 per cent
To expand its reach, Bonjour focuses on strategic licensing agreements, partnering with well-known brands like Hush Puppies for socks and Warner Bros for licensed products featuring popular characters such as Barbie, Ben10, Superman, and Batman. These collaborations allow Bonjour to leverage the popularity and customer base of these global names, creating co-branded products that combine its hosiery expertise with the appeal of its partners.
Bonjour's product range is divided into three key brands: Bonjour, Vami, and Bontact. The flagship Bonjour brand offers a broad range of high-quality socks to suit diverse needs, including cotton, sports, ankle, compression, thermal, and kids' socks. Vami, the second brand, is dedicated to women’s apparel, featuring stylish yet comfortable items like leggings, jeggings, blouses, innerwear, and winter wear.
The third brand, Bontact, caters to demanding environments with specialized products such as defense socks, waterproof gloves, tactical gear, and extreme cold weather clothing, focusing on durability and functionality.
Bonjour’s partnerships with leading brands have resulted in a wide variety of socks, attracting both its loyal customers and fans of partner franchises. These exclusive collections emphasize innovative designs and materials, reinforcing Bonjour’s market position.
The Indian socks market is rapidly expanding, with Statista projecting revenues to reach $184.60 million in 2024 growing at the CAGR of 4.23 per cent from 2024-2028. Despite this positive trajectory, the market remains largely unorganised, offering significant untapped potential. Streamlining this sector could enhance the industry’s development and position India as a global leader in socks manufacturing.
