These products will also be made available in Sri Lanka, Nepal, Bhutan and Bangladesh, according to the company. The manufacturer believes this tie up will help both the companies to work towards creating a premium innerwear brand in the country.

This venture would also bring in foreign direct investment for the textiles sector in India, while a joint venture would mean a win-win situation for both the Indian company and the investor.

“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,” said Kavindra Mishra, MD, Pepe Jeans India Ltd.

“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,” said Vinod Kumar Gupta, Managing Director, Dollar Industries Ltd.

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