European partner to pump in ₹36 cr.
Dollar Industries Limited announced an equal joint venture with Pepe Jeans Europe BV. The venture will manufacture and market premium range of innerwear, loungewear, gymwear, nightwear and tracks in India under the brand name Pepe Jeans London. These products will also be made available in Sri Lanka, Nepal, Bhutan and Bangladesh.
This venture would also bring in foreign direct investment for the textile sector in India. Pepe London would pump in ₹36 crore worth of equity as its contribution over four years, Kavindra Mishra, MD, Pepe Jeans India Limited, said.
“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,” he said. Pepe markets outerwear and apparel under the Pepe brand in India.
“This JV will also combine fashion and functionality and offer products to the consumers,” said Vinod Kumar Gupta, managing director, Dollar Industries Ltd., a listed company. It has four manufacturing units in Kolkata, Tirupur (TN), Delhi and Ludhiana.
Dollar’s range of products includes vests, briefs, trunks with varying cuts and fits. In the apparel category, it has basic and fashion denims, tee-shirts, gym vests, bermuda and track pants. In the winterwear range, the company has premium thermals for men, women and children. Womenwear includes lingerie, camisole and leggings.