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Dollar signs marketing deal with leading retailers
13
Jul '10
Dollar Industries, which has Bollywood actor, Akshay Kumar as its brand ambassador for its premium innerwear brand, Dollar Club, has signed marketing deals with leading retailers namely, Bharti-Wal-Mart, France-based Carrefour, LuLus from Dubai and Reliance Retail, for its hosiery apparels.

This Rs 3 billion worth firm has set a target of Rs 5 billion as their turnover, which they intend to achieve within a span of three years. The company is also in the process of developing an office in Dubai. But, these new measures have come at a time, when the increasing prices of yarn have started pressurizing the nation's hosiery industry.

Introducing designer innerwear in to the market is also in the pipeline and the company is in discussions with designers for the same, such as Rohit Bal and Manish Malhotra.

As per Vinod Gupta, MD, Dollar Industries, during the past couple of months, yarn prices have gone up rapidly, which has affected the profit margins. But the company's association with Akshay Kumar, for marketing their brand, Dollar Club, has helped the company achieve better earnings. The firm has inked a two-year contract with Akshay Kumar.

Dollar Industries is hopeful that, yarn prices are likely to get stabilized in the near future, which will help them boost their profit margins.

More so, with its appointed creative agency, Lowe Lintas, it intends to spend around Rs 500 million for advertising its brands. The intended designer innerwear from Dollar, will be introduced in to the market soon and is aimed at competing with international brands such as Calvin Klein, Lacoste, Jockey and Fruit of the Loom.

All this changing market trends is because of the increasing awareness amongst youngsters who travel across the globe and get glued to international innerwear.

Fibre2Fashion News Desk - India

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