India’s leading innerwear company Dollar Industries Limited now has plans to enter the booming lingerie business by the first half of the next financial year.
The Kolkata-based knitwear manufacturer is looking at acquisition opportunities to realise the same.
As for the current fiscal year, the company is expecting up to 10 per cent growth in revenue at about Rs. 1,050 crore. It reported revenue of Rs. 974 crore last year.
Commenting on the same, Ankit Gupta, Chief Financial Officer, Dollar Industries, said that though, owing to the global pandemic, the company was badly impacted in the last quarter of the previous financial year and first quarter this year, the business is picking up now.
Throwing light on the firm’s keen intent to enter the lingerie business now, Ankit highlighted, “We are looking at inorganic opportunities to enter into the lingerie business.”
“We have looked at some companies, but didn’t get good value,” he further added.
The hosiery major is also planning to build up its kidswear portfolio and get into readymade garments segment for children, Ankit mentioned.
Dollar Industries launched its new brand identity – Wear the Change – with a new logo in May this year.
