Gokaldas Intimatewear x Dixcy Textiles to 2x turnover in two years: Sunil Sethi, Modenik Lifestyle
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09 December 2021, Mumbai:
The two brands, Dixcy in the men’s innerwear segment and Enamor in the women’s intimate wear space, will henceforth focus on expanding distribution, strengthening supply-chain, and other front-end and back-end processes.
Modenik Lifestyle, the entity formed after the merger of innerwear companies Dixcy Textiles and Gokaldas Intimatewear, plans to double its turnover in the next two years by creating synergies and leveraging the strength of two companies, the company’s executive chairman Sunil Sethi told Moneycontrol in an interview.
The two brands, Dixcy in the men’s innerwear segment and Enamor in the women’s intimate wear space, will henceforth focus on expanding distribution, strengthening supply-chain, and other front-end and back-end processes.
E-commerce, for instance, he added, is an area where Enamor’s learnings can come in handy for Dixcy, which still has limited sales coming from the online channel.
According to Sethi, Enamor draws about 25 percent of its sales from e-commerce now as opposed to the single-digit contribution of the channel in the pre-pandemic period.
The brands, said Sethi, will take inspiration from each other to deliver more fashionable products.
Dixcy Textile and Gokaldas Intimatewear, which owns Enamor were merged earlier this month. Both the companies were owned by Advent International, and as a result, the merged entity now is owned by the private equity firm. Advent International had acquired a 60 percent stake in Dixcy Textiles in 2017 and the rest 40 percent in 2019. It had also acquired Gokaldas Intimatewear in 2019.
With the merger, the company is also now planning to tap other consumer segments and will soon launch Dixcy Scott Maximus, which will cater to the mid-premium segment. Currently, it has Dixcy Scott Originals and Josh by Dixcy Scott in the mass segment. Enamor (in the women’s innerwear category) caters to the mid-premium segment, while Slimz is positioned in the mass segment. The company also has an exclusive licensing agreement to manufacture and distribute Levi’s innerwear in India.
Money Control (The news article has not been edited by DFU Publications staff)
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