Companies

Biz ramp-up: Dollar Ind to launch new products for women, children

Our Bureau | | Updated on: Dec 07, 2021
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Saw good growth in athleisure segment during Covid, says company

Dollar Industries Ltd is planning to ramp up athleisure business by launching new products for women and children. The company, that currently has athleisure offerings for men, had recently entered into a joint venture with G.O.A.T Brand Labs Pte. Ltd for shareholding of Pepe Jeans Innerfashion Pvt Ltd.

Vinod Kumar Gupta, Managing Director, Dollar Industries, said an entire range of athleisure products will be launched in the kids segment by summer next year. A range for women will also follow in due course.

Also see: Dollar Industries expects 15-18 per cent growth in turnover this fiscal

“Covid has opened up opportunities for growing the segment in India. We have seen a good growth in the category and are now looking to roll out offerings for kids,” said Gupta while addressing a press conference here on Tuesday.

Transfer of shares

Dollar had entered into a 50-50 joint venture partnership, under the name Pepe Jeans Innerfashion, with Pepe Jeans Europe B.V. in August 2017. Recently, Pepe decided to exit from Pepe Innerfashion and offered Dollar to buy out entire stake in accordance with the clause dealing with Right of First Offer (ROFO) in the said agreement.

However, having renounced to exercise its ROFO, Dollar agreed to the transfer of shares held by Pepe in favour of G.O.A.T.

The existing license agreement of Pepe Innerfashion with PJ Hungary KFT, Hungary, for use of their brand name ‘Pepe Jeans / Pepe Jeans London’ will continue to be used by Pepe Innerfashion with revised terms and conditions. The share transfer and new agreement will not affect the stakes of Dollar and the business activity of Pepe Innerfashion will continue as is, said a statement.

“The new partner will bring in expertise, the knowhow, and technology to enhance our D2C capabilities. With our JV, we intent to enhance our product portfolio with more premium brands, thereby increasing our offerings,” Gupta said.

Published on December 07, 2021

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