Dollar Industries Ltd., a leading innerwear brand, will invest Rs. 120 crore in next 3 years and expects to become a Rs. 2,000 crore company by 2024-2025.
Currently, the company has a turnover of around Rs. 1,350 crore.
The expansion will be into various segments covering spinning, energy generation and retail as well.
It would set up one more spinning mill at Tamil Nadu’ Dindugul region and start a state-of-the-art warehousing facility cum hosiery park at Jagdishpur in West Bengal.
The capacity of its existing 4 MW solar power plant will be increased by 2MW.
Vinod Kumar Gupta, MD of the company, said that the newly launched athleisure range justifies the company’s goals and expects similar success with its soon-to-be-launched women’s lingerie range under Dollar woman.
The company is also planning to expand its market into African countries after being successful in the Middle East.
To strengthen its retail footprint, there are plans to open 125 exclusive brand outlets, mostly in Tier-2 and Tier-3 cities by 2025.
The Kolkata-based company unveiled its Vision 2025 and a logo on completing 50 years.Besides, it also announced that its fourth-quarter profit, ended March 2022, rose by 10 per cent to Rs. 37 crore from total revenue of Rs. 376 crore, at a growth of 21 per cent over the corresponding period last year.
