- Pepe Jeans Europe BV enters into a Joint Venture company with hosiery major Dollar Industries Ltd
- To manufacture and market premium fashion innerwear, loungewear, gymwear, sleepwear and track suits for adults & kids
- Both the companies to hold 50% stake in the joint venture
- To market and sale products in India, Sri Lanka, Nepal, Bhutan & Bangladesh
Both the JV partners i.e. Dollar Industries and Pepe Jeans will hold 50% stake in the JV 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. While a joint venture would mean a win-win situation for both the Indian company and the investor.
“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 JV 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, Mr. Kavindra Mishra, MD, Pepe Jeans India Limited.
“The innerwear category is a high growth category in the apparel market. With higher discretionary spending and growing fashion consciousness, this segment is poised to grow exponentially. The JV with Pepe Jeans will give a boost to Dollar Industries and help Dollar increase their market share and penetrate the premium Innerwear segment. This association will also help us in consolidating our market share. Pepe Jeans and Dollar both believes in Innovation and creativity which is the heart of their activities. This JV will also combine fashion and functionality and offer products to the Consumers,” said Mr. Vinod Kumar Gupta, Managing Director, Dollar Industries Ltd.
Dollar Industries began its journey with the signature brand ‘Dollar’. Later, the brand Dollar Bigboss was launched, which achieved popularity among consumers. Bollywood celebrity actor, Mr. Akshay Kumar is the Brand Ambassador of Dollar Bigboss and he has contributed significantly in the success of the brand over the last six years. The company also has introduced Kids wear range “Champion”, women’s wear under the brand name “Missy” and casual wear range called “Force”. Dollar Industries was the first Indian Innerwear manufacturing company to introduced Micro Modal fabrics in inners.
The overall range of products at Dollar Industries includes vests, briefs, trunks with latest cuts and fits. In apparel category, there is basic and fashion denims, t-shirts, gym-vests, bermuda and track pants. For winter, the company has premium thermals for men, women and children. The women’s range includes camisoles, panties and leggings.
Pepe Jeans London remains at the front of the fashion pack with a winning formula based on its ability to deliver the strongest denim-led fashion. Today, the company is among the top two leading premium denims brands in the country. In 2015, Pepe Jeans launched kidswear in India. The category continues to be a key growth driver for the brand nationally. In 2016, Pepe Jeans launched eyewear in key stores. The company is now set to take the brand to newer heights with the launch of innerwear and footwear in 2018.
Pepe Jeans London continues to set new benchmarks in the Indian market with its growth story. The company is adding exciting new categories to their portfolio and increasing their presence in tier II and Tier III markets. Overall the company is looking to double their business in the Indian market within the next 3 years with the sole objective of establishing Pepe Jeans as a one stop shop for the casualwear needs of adults & kids.
About Pepe Jeans
Pepe Jeans London was born in the iconic Portobello Road in 1973. Today, more than 40 years later, the brand remains devoted to its initial mantra and its pledge to create the most exciting denim-led fashion on the planet.
The diversity and unique eclecticism, the extraordinary melting pot and mix of cultures that defines the city of London also defines Pepe Jeans personality. Thus, the brand keeps on being the constant inspiration for the brand´s denim, women, men and kids collections.
Music, Culture, fashion, London and denim, which is what Pepe Jeans is all about.
About Dollar Industries:
Dollar Industries Ltd, is today amongst the top three hosiery brands in India. The company, which has got listed in NSE in the recent past, has four manufacturing units in Kolkata, Tirupur (TN), Delhi and Ludhiana. Dollar Industries enjoys a 15% market share in the branded hosiery segment in India. Dollar Industries have recently started business in African market with Nigeria to reserve more export revenue. The company’s existing export markets are in Gulf Middle East as well as Nepal.