Dollar Industries to Open 50 Outlets in South India

Hyderabad: Hosiery brand Dollar Industries Limited plans to open 50 exclusive brand outlets in the South India market in three years.

Dollar now holds 15 per cent market share of the branded hosiery segment in India and the group is targeting a growth of 12% on a year-on-year basis. “We have received a good response for our products from the Southern markets. Our sales have recently increased from these markets and stands at around 8%. We are targeting to garner around 20 per cent of our domestic revenue from South market”, said Vinod Kumar Gupta, managing director, Dollar Industries, at an event in Hyderabad.

Dollar has manufacturing units in Kolkata, Ludhiana, Tirupur and New Delhi. It has taken up expansion of capacity of its spinning unit in Tirupur from 22,000 spindles to 42,000 spindles. The additional production capacity will start shortly.

“We are in a segment that is not affected by the pace of the economy. People may delay the buying but cannot avoid it. We have plans to introduce fashion elements into the essentials segment. Also we have plans to use new age fabrics made from bamboo and others for additional comfort,” the official said.