Dollar enters clothing biz, eyeing overseas expansion

Thursday, 02 August 2012

Dollar Industries, best known as a hosiery marker is diversifying into the outer wear segment by building a complete garment brand for men, women and kids apart from aggressively expanding its reach throughout India and abroad. The company is also aiming a revenue target of Rs 600 crores by the end of this financial year.

The company would introduce a range of fashion denim trousers under its brand Force, for the August-November festive season. They want to take advantage of the fact that festival sales and summer sales contribute over 30 per cent of revenues each. It is also investing in outdoor and online campaign to build and promote the brand across the nation.

Currently, the company supplies its products through 18 major distributors, which it plans to double to 36 this financial year, to multi-brand outlets in the country. Apart from expanding in the domestic market, the company is also planning an aggressive retail strategy for the overseas markets especially Africa. Last year, it earned nine per cent of its total revenues from exports to the West Asian countries such as Iraq, Iran, UAE, Oman, Kuwait, Doha, Bahrain, and Jordan.

From a humble beginning in 1996, the company has become a force to reckon within in the innerwear market. Today the company’s reach spans 26 states, making it one of the country’s top five hosiery undergarment manufacturers.