I founded Soka Cipta Niaga with several entrepreneur friends from Bandung on 11th November 2011. I saw that there was still a vast market for socks in Indonesia, especially given the country’s population size and the fact that most of them are sock users. Out of this forethought, I presented the idea to my friends who came from diverse industry backgrounds, such as chemicals and fashion. According to our data, Indonesia had an annual market size of 1 billion pairs. If a pair is sold at an average price of 10,000 IDR [$0.76 USD], that would add up to 10 trillion IDR [$760 million USD]. Of this, only 40-50% of the supply was produced domestically with the rest are being imported from countries such as China, India and Turkey. At present, the average growth of the sock industry is 20% which is significantly above other sectors at 5-6%. That said, compared to South Korea and Japan where wearing socks have become a culture, users in Indonesia only account for 50% of the population.
Soka Cipta Niaga has come up with the tagline ‘Hijab on Head, Socks on Foot’ in recognising Indonesia as the most populous Muslim country in the world. The concept serves to educate consumers. Indeed, our optimism of becoming a market leader in Indonesia also draws upon our focus on the Muslim women segment in addition to standard markets such as men, school-aged children and sports. The sock industry’s rapid growth is partially contributed by the emergence of the hijab trend in the last 5-6 years.
As a company, Soka Cipta Niaga is involved in both production and distribution. Our sock products can be found from the westernmost province of Aceh to the easternmost province of Papua. 70% of our output is marketed domestically while the rest is exported. The competitive advantage we seek to develop is productivity and creativity. Additionally, Soka Cipta Niaga aims to become a listed company in 2020 and we have taken initial steps towards achieving this goal. For example, we are currently in the process of upgrading our quality management standards from ISO 9001:2008 to ISO 9001:2015.