What we do VIP Clothing Ltd is a leading Indian manufacturer and marketer of men's and women's innerwear, socks, and readymade garments under brands like VIP, Frenchie, Feelings, and Leader. |
Founded in 1,991 |
Market share Market leader in cotton hosiery products with strong brand presence and extensive distribution. |
Problem solved Provides comfortable, quality innerwear products addressing unmet needs in branded intimate apparel across India. |
Top clients or who we serve Serves B2C customers primarily via retailers, distributors, and e-commerce platforms across India. |
Key management Sunil Pathare (Chairman & Managing Director), Kapil Pathare (Deputy Managing Director), Devendra Vyas (CFO), Rahul Soni (Company Secretary). |
Our journey and innovations Founded as Maxwell Industries in 1991; expanded manufacturing; launched new innerwear lines; relaunched Frenchie X combining legacy with modern values. |
Where we operate India and select export markets outside India. |
Top products or what we offer Men's and women's innerwear, socks, and readymade garments under brands VIP, Frenchie, Feelings, Leader, Blue Chip. |
Top brands VIP - market leader in cotton hosiery; Frenchie X - premium innerwear; Feelings - women's intimate wear; Blue Chip - readymade garments. |
Raw materials needed Cotton, elastic, processed fabric for hosiery products. |
Raw materials supplier Sourced initially from market; later vertically integrated with in-house production units. |
Recurring vs cyclical contribution Revenue largely recurring through continuous product sales and expanding distribution. |
Our industry position Leading player in Indian intimate apparel market with strong brand equity and wide distribution network. |
Financial highlights Revenue ₹236.89 crore FY25, net profit ₹5.46 crore FY25, EBITDA margin ~8%, 29% revenue growth YoY. |
Geographical revenue split ~95% revenue from India; ~5% from outside India exports. |
Order book - |
Whats driving growth Premium brand repositioning, wider distribution, product innovation, cost efficiencies, export focus. |
Our future plans Expand women's innerwear, increase premium segment contribution, grow revenue to ₹420 crore by FY27 (~35% CAGR). |
Our green promise Operates a 350 KVA windmill unit demonstrating commitment to energy sustainability. |
Our people and values Diverse workforce (326 males, 36 females), emphasizes employee training, safety, inclusion, and ethical governance. |
Key challenges ahead Competitive market, raw material volatility, shifting consumer preferences, and managing distribution expansion. |
Interesting facts One of India’s earliest branded innerwear companies; ISO 9000 certified manufacturing facility; relaunched classic Frenchie brand in 2025. |
Risks and strategy Risks include market competition and cost pressures; mitigated through innovation, brand premiumization, and operational efficiencies. |
