Falke: Clawing back market share with Mikado brand
Promoting Mikado as an affordable alternative – Johnny Griessel and Jenni Kruger.
Pretoria, Gauteng, SA – Over the past year, Falke Hosiery SA has been repurposing its Mikado stocking hosiery brand to include a medium-price sock range aimed at the domestic market.
While over 80% of its Falke-branded technical sock production – which includes sports socks for running, skiing and hiking, with patented left- and right-foot footbeds – is exported to its German parent company, its local sock sales have been shrinking under a combination of Far Eastern imports and a declining local economy.
“Furthermore, with the hosiery business declining year on year over the last couple of years, we realised that we needed to diversify to ensure the future of our Pretoria factory with its 164 staff,” said Jenni Kruger, sales manager - hosiery.
“We saw a gap in the market for a mid-level, good quality and affordable sock. Most of the socks being sold in South Africa are imported from China and hold the retail customer to high MOQs – we’re offering lower quantities and customised design.
“We’re planning a basic core and fashion range, an active wear sport look, but not as technical as the Falke range, at a more affordable price.
“Our aim is to infiltrate the retail market with our socks to ensure the South African consumer has the option to get good quality socks at an affordable price.”
The Mikado brand has been in existence for around 20 years, only used for hosiery, although Falke Hosiery supplies most chains with hosiery under their own house brands.
Was the expo well organised?
Jenni Kruger: The event is really well organized – all credit to the organizers.
Did it have a measurable effect for you?
Jenni Kruger: It did, although the sales were very slow.
Can you give any estimate of your penetration of the SA running market with the Falke and Mikado brands?
Jenni Kruger: Falke is a very popular running / sport sock and well known in the market. We believe that Falke services 60% of the market. Mikado Socks are still an infant in the market, and we hope to grow the brand to the same visibility as the Falke brand.
Will you exhibit again?
Jenni Kruger: Yes, we will, but as an independent.
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