Australian brand for men’s innerwear and swimwear clothing, Aussiebum is expanding its business in India as it gears up to set a manufacturing unit in India in the next 6 to 7 months.
The company, which began its India operations in October 2023, is expecting to capture around 5 per cent of India’s innerwear market by FY2026 with this move as it plans to produce for the domestic and global markets from the India facility.
Sean Ashbey, founder and CEO of Aussiebum, in an exclusive conversation, told Outlook Business that the company is reinvesting the profits earned from the Indian market, back into India to understand the needs of the Indian customer and build for them in India.
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“Traditionally, profit and returns are taken back to the country of the origin. However, we are not taking the revenue back to Australia, instead it stays in India and those funds are getting used to manufacture in India. We then aim to sell the products globally since we have a great market in Europe and the US,” he said.
This would also lead to the decline in the company’s expenses in export and import and bilateral trade from Australia to India, as currently the products are shipped from the foreign nation to India. Sean added that with this move, the start-up is also generating employment in India for local workers, farmers and retailers.
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Without stating any numbers, Sean claimed that the company is generating good revenue from its India business and is also profitable.
Currently the brand has manufacturing units based out of China, Bangladesh, Thailand, and Vietnam and sells across 120 countries.
The innerwear market in India is currently valued at approximately ₹48,123 crores and is expected to grow at a CAGR of 11.5 per cent, reaching an estimated market size of ₹26,952 crores by 2025.
