BY SELLING JOCKEY PRODUCTS IN INDIA, THE GENOMALS ALTERED THE WAY INDIANS PERCEIVED INNERWEAR AND CHANGED THEIR OWN FORTUNES IN THE PROCESS
In the summer of 1993, it was business as usual for 40-year-old Sunder Genomal in Manila— where he ran his family business of manufacturing and distributing Jockey products in the Philippines—when Rick Hosley, then president of the USbased innerwear brand, made him an offer. Hosley wanted Genomal to become the brand’s exclusive licensee for manufacturing and distribution in India.
Genomal had not seen this coming despite having accompanied Hosley to India a few months earlier to help him scout for a partner to operate in the country. Hosley’s reason to fall back on Genomal isn’t far to seek. The company was making a second attempt at entering India. Constrained by regulatory requirements under the Foreign Exchange Regulation Act (Fera), which required multinational companies (MNCs) to dilute their ownership in Indian ventures to 40 percent, Jockey had to end its decade old manufacturing and distribution partnership with Associated Apparels in 1973. Now, in 1993 (post-liberalisation, Fera rules were relaxed to allow MNCs at least a 51 percent stake in their Indian ventures, and were eventually repealed in 1998), Jockey was looking to enter the market again, and Genomal—whose family had a similar relationship with the brand in the Philippines since 1959—could be relied upon to be the trusted lieutenant.
“Jockey was approached by some well-known large companies for the licence in India. They surprised us by asking if our family would be interested in taking the licence since they did not sense the right quality and marketing culture in any of the companies that showed an interest in the brand,” recalls Genomal, managing director of Page Industries, the company he founded in 1994 to manufacture and distribute Jockey products in India.
この記事は Forbes India の December 29, 2017 版に掲載されています。
7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、9,000 以上の雑誌や新聞にアクセスしてください。
すでに購読者です ? サインイン
この記事は Forbes India の December 29, 2017 版に掲載されています。
7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、9,000 以上の雑誌や新聞にアクセスしてください。
すでに購読者です? サインイン
Home-Cooked Meal Is Now Greatly Valued
The pandemic has also brought with it an improved focus on hygiene, use of technology in dining, rise of cloud kitchens and resurgence in popularity of Indian ingredients
Paytm 3.0 - Reaching Near Breakeven In Two Years
As of 2020, Vijay Shekhar Sharma’s super app for financial services had run up losses in thousands of crores. Now, as digital payments gets yet another boost courtesy Covid-19, he’s hopeful of reaching near breakeven in two years
THE PANDEMIC HAS CAUSED WOMEN GREATER LABOUR PAIN
Covid-19 has shown that women are more likely to face the brunt of job losses than men, and find fewer opportunities when they want to resume. That apart, several have to deal with increased hours of unpaid work at home and even domestic abuse
LEADERSHIP WILL BE ABOUT SEEING THE BIGGER PICTURE
Leaders must not only guard their teams first during a crisis, but also deal with stakeholders with respect and dignity. And apart from pursuing business goals, they should remain committed to our planet and the environment
PHILANTHROPY SHOULD BE HUMBLE, BUT NOT MODEST
Apart from building a flexible and resilient framework for the future, philanthropists, civil society and the government must work in tandem so that every rupee is absorbed on the ground
INTEGRATED HEALTH CARE, TECH WILL DISRUPT SECTOR
While clinical research will get a boost, having a skilled workforce and public spending on health care will be challenges in the near term
DIGITALISATION WILL HELP IN VALUE CREATION
As the pandemic brings technology and innovation to the core of business and daily life, the next decade will see about 150 million digital-first families in India
Industry 4.0: Climate Revolution?
Augmenting sustainability alongside digital capabilities is an economic, competitive and global opportunity for India’s businesses, but regulations need to reflect intent
EV Dream Still Miles Away
Electric vehicles have remained a buzzword in India for years. But not much has moved on ground due to high upfront costs, range anxiety and charging infrastructure
Living Waters
A virus has caused us to scramble for oxygen but our chokehold on the environment is slowly strangling the very waters that breathe life into us. The virus is a timely reminder: We are merely consumers, not producers of life’s breath on this planet
