Weaving success with the threads of faith and humility, Mr. Prahalad R. Agarwala, the Chairman of Rupa & Co. Ltd., has knitted an empire of global reckoning. Let’s unleash the exemplifying journey of Mr. Agarwala…
What has been your vision behind the genesis of the hosiery empire Rupa?
Mr. Agarwala: I had not even thought of creating an empire when I started Rupa in 1968. Guided by my entrepreneurial instinct, I just wanted to start my own business, and henceforth, Rupa was born.
Your childhood has not been an easy one. Do you consider your story as a rags-to-riches one?
Mr. Agarwala: I belonged to a lower middle-class family where I struggled like any other child, therefore, I wouldn’t call it a rags-to-riches story. During my graduation days, I used to save 10 paisa by walking daily to college. We couldn’t afford the tuition fee of Rs. 75 per month.Instead, my father advised me to discontinue my studies and help him with his business. After completing B.Com, I started earning to support my further studies. I started handling books of accounts, which helped me take an admission in LLB.
Share with us the growth journey of Rupa.
Mr. Agarwala: I started a hosiery trading business under the banner of Binod Garments in 1957. However, an urge of doing something of my own empowered me to establish a hosiery business, Rupa & Co., in 1968, in partnership with my younger brothers Mr. G P Agarwala and Mr. K B Agarwala. The company began its journey by manufacturing male innerwears in association with third-party vendors in Tirupur and Kolkata.
The stepping stone came in the form of the first order of 24 dozen of hosiery that was to be delivered in Samastipur, Bihar. Back then, production was not much, but in the excitement to deliver the order, we pulled up things swiftly. And then, there was no looking back. Soon, the company expanded to the female innerwear segment after attaining huge success in the eastern regions of India. In 1975, Rupa established itself as a national brand. Initiating the journey with one brand, today Rupa houses numerous sub-brands, such as Macroman, Frontline, Softline, Footline, Jon, Theormocot, Embrace, Skywings, Zooreka, Bumchum, Imoogi, and Interlock. Within a decade, we came out with a public issue in the financial year 1995-96 to become a public limited company. As the largest manufacturer of hosiery in India for the last six years, Rupa was featured in the Limca Book of Records.
Which are the most potent regions in India for the growth of Rupa?
Mr. Agarwala: The innnerwear industry is showing a positive trend over the past few years, and the growth is exponential. There was a time when Ludhiana and Calcutta were considered as the prime production centres of knitwear. However today, Tirupur, which was a small-shanty town in South India, has developed into the major hub of innerwear’s production. With the latest technology and processes, West Bengal also has a huge growth potential in hosiery. As the industry consists of mainly SMEs, the sector plays a vital role in West Bengal’s economy in view of its decentralised nature, labour-intensive character, job creation capacity, and the prospects of earning foreign exchange.
How do you connect with your target audience?
Mr. Agarwala: Hosiery is not a push market, rather it is a buyers market. Our strategy at Rupa aims at imprinting a trustworthy picture in the minds of our patrons. Right from celebrity endorsements to advertisements, Rupa has left nothing untouched in making a mark on the global horizon. Its marketing and communication strategy exploits print, electronic and digital media to its core.
With a pan-India presence, we have been enjoying healthy relationships with our distributors and customers for more than 40 years. The quality of our products and customer-centric policies have made us stand out amid tough competition in the market.
What’s so unique about Rupa as a brand?
Mr. Agarwala: Being the first company to free the innerwears from the shackles of ugly and nameless paper bags, Rupa brought in celebrity endorsements in hosiery industry in 1990s. Rupa has worked with actors and models like Aishwarya Rai, Govinda, and Hritik Roshan, to name a few.
The Indian branded undergarment market has undergone a sea change in terms of pricing, placement, packaging, and innovation.Today, the focus is not only on product quality, but also on its style and modernity. Taking pride in creating value-for-money products that target all segments of the society, Rupa is ready to serve the new-age evolved consumers.
Kindly throw some light on the future plans of Rupa.
Mr. Agarwala: In this contemporary age, people follow only the established brands for even their daily usage. Catering to a huge demand of innerwear and casual wear, which is also expected to increase four times by 2018, we also strive to foray into the FMCG industry. Today, our winning streak has paved way for more innovations and experiments in the supply chain. By entering into the FMCG segment, I can foresee Rupa becoming a global Indian brand.
With over 40 Rupa junction stores, we are geared up to start a chain of premium innerwear stores across the nation. We are looking at international markets of Southeast Asia, the Middle East and parts of Europe.
How Rupa shoulders its responsibilities towards the society?
Mr. Agarwala: Our mission is to increase employment opportunities and propagate self-reliance through vocational education. We are running educational institutes – Sobhasaria Engineering College and Sikar Parishad in Sikar, Rajasthan. Besides, the company has Sri Sri Academy, The Heritage Institute of Technology, and The Heritage School in Kolkata. In addition, the company is closely associated with various hospitals, such as Shree Vishudhanand Hospital & Research Institute and Sankara Nethralaya (Eye Hospital) in Kolkata. To preserve our cultural values, we have established a temple in Sikar too.
What’s your message for the Indian youth?
Mr. Agarwala: With ample of opportunities and resources in your path, it’snot difficult to achieve your dreams. I advice the Indian youth to think big, dream big and plan meticulously to achieve their goals. Preserve the Indian values and take them ahead.
