Hosiery and knitwear brand Dollar Industries which is is headquartered in Kolkata, will invest Rs 25 crore to set up a new facility at Ludhiana, according to media reports.
The company has manufacturing facilities at Kolkata, Tirupur (Tamil Nadu), Delhi and Ludhiana.
According to managing director Vinod Gupta, the upcoming outer-wear unit, catering to loungers, T-shirts and so on, is expected to be operational by over the next 12 to 18 months.
“We have obtained a one-acre plot and construction of factory work has begun. The facility should start commercial production in another 12-odd months or so,” he told reporters. This apart, a possible foray into the super premium men’s inner-wear segment has also been planned around July.
The company is looking to compete with brands like “Jockey” and “Hanes” with the launch of its “Force Nxt” brand next month.
Plans are also afoot to enter the African markets by the end of this fiscal. “There is good demand for our products from African nations. We are exploring the opportunities there too,” Gupta said.
The company, currently listed on two regional stock exchanges – Kolkata and Jaipur, is hopeful of making the transfer to the BSE (Bombay Stock Exchange) by the end of this fiscal.
Gupta said that there are no plans of an IPO.
Dollar reported a turnover of Rs 730 crore last fiscal (FY-15) and is looking at a 17 per cent growth in net sales to Rs 850 crore in FY-16. Profit last fiscal stood at approximately Rs19 crore.
