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Both the joint venture partners, Dollar Industries and Pepe Jeans will hold 50 per cent stake in the joint venture company. This tie up will help both the companies to work towards creating a premium innerwear brand in the country 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.
"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 joint venture 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 Kavindra Mishra, MD, Pepe Jeans India Limited. (RR)
Fibre2Fashion News Desk – India
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