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Dollar innerwear to tap new west Asian markets
29
Dec '10
Dollar Industries, which has in its stable one of the top selling innerwear brands in India is planning to tap new Asian markets like Iran, Iraq and Myanmar after having created a mark in the lucrative Gulf countries, by being one of the largest innerwear exporters from India.

In the previous fiscal year, Dollar clocked a turnover of Rs 2.96 billion and expects to grow by around 18 percent and post revenues of Rs 3.50 billion in the current fiscal. It also exported Rs 250 million worth of goods in 2009-10 and has targeted to touch Rs 280 million in 2010-11.

Dollar which has roped in bollywood actor Akshay Kumar as its brand ambassador has four production units in Delhi, Ludhiana, Kolkata and Tirupur, churns out over 350,000 pieces per day. It also went in to backward integration and acquired a spinning mill in Tamil Nadu, recently.

Speaking to fibre2fashion, Mr Vinod Gupta, Managing Director - Dollar Industries informed, “Both Iraq and Iran have a good market for Indian hosiery products, because of heavy infrastructural developments and there is no difference in perception of consumers in the countries of the region and those from India”.

Revealing his other plans, he said, “We are also eyeing the European market with our new product 'Myme' and our association with retail giant Carrefour would lead us there”. The company has launched for the first time in the history of vest in India, Men's 'Designer Undershirt' – 'MyMe', designed by eminent designers of this generation using fabrics made from'100% American Pima Cotton'.

Fibre2fashion News Desk - India

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