Dollar Industries Limited announced a Joint Venture with leading international fashion brand Pepe Jeans Europe BV with a 50–50 stake of both the JV partners.
The Joint Venture is to manufacture and market premium range of fashion Innerwear, Loungewear, Gymwear, Sleepwear and Track Suits for adults and kids in India under the brand name Pepe Jeans London. These products will also be made available in Sri Lanka, Nepal, Bhutan & Bangladesh.
Both the JV partners i.e. Dollar Industries and Pepe Jeans will hold 50 per cent stake in the JV company.
This tie up will help both the companies to work towards creating a premium innerwear brand in India to offer an exciting and innovative range of aspirational products to the customers.
This venture would also bring in foreign direct investment for the textile sector in India. While a joint venture would mean a win-win situation for both the Indian company and the investor.
“Pepe Jeans’ expansion into newer categories is a strategic progression of the brand. Our objective was to partner with a great Indian brand with a strong distribution and production set up. This is a strategic investment for the brand. We are funding the JV as per a strong scalable business plan. We believe that at present there is a gap in the market, and therefore immense potential for a strong innovative premium innerwear brand to grow. Together with Dollar Industries Limited we are looking to spearhead growth and innovation in this category. With our strong brand name and Dollar Industries industry expertise will take both the brands to greater heights”, said MD, Pepe Jeans India Limited, Kavindra Mishra.
“The innerwear category is a high growth category in the apparel market. With higher discretionary spending and growing fashion consciousness, this segment is poised to grow exponentially. The JV with Pepe Jeans will give a boost to Dollar Industries and help Dollar increase their market share and penetrate the premium Innerwear segment. This association will also help us in consolidating our market share. Pepe Jeans and Dollar both believes in Innovation and creativity which is the heart of their activities. This JV will also combine fashion and functionality and offer products to the Consumers,” added Managing Director, Dollar Industries Ltd, Vinod Kumar Gupta.
Dollar Industries began its journey with the signature brand ‘Dollar’. Later, the brand Dollar Bigboss was launched, which achieved popularity among consumers. Bollywood celebrity actor, Mr. Akshay Kumar is the Brand Ambassador of Dollar Bigboss and he has contributed significantly in the success of the brand over the last six years. The company also has introduced Kids wear range “Champion”, women’s wear under the brand name “Missy” and casual wear range called “Force”. Dollar Industries was the first Indian Innerwear manufacturing company to introduced Micro Modal fabrics in inners.
The overall range of products at Dollar Industries includes vests, briefs, trunks with latest cuts and fits. In apparel category, there is basic and fashion denims, t-shirts, gym-vests, bermuda and track pants. For winter, the company has premium thermals for men, women and children. The women’s range includes camisoles, panties and leggings.
Pepe Jeans London remains at the front of the fashion pack with a winning formula based on its ability to deliver the strongest denim-led fashion. Today, the company is among the top two leading premium denims brands in the country. In 2015, Pepe Jeans launched kidswear in India. The category continues to be a key growth driver for the brand nationally. In 2016, Pepe Jeans launched eyewear in key stores. The company is now set to take the brand to newer heights with the launch of innerwear and footwear in 2018.
Pepe Jeans London continues to set new benchmarks in the Indian market with its growth story. The company is adding exciting new categories to their portfolio and increasing their presence in tier II and Tier III markets. Overall the company is looking to double their business in the Indian market within the next three years with the sole objective of establishing Pepe Jeans as a one stop shop for casual wear needs of adults and kids.