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Dollar aims to be Rs 2,000 cr company by 2024

Dollar aims to be Rs 2000 cr company by 2024 002The new and emerging consumer trends and product advancements has helped innerwear evolve over from just being a conventionally utilitarian product. The advent of new shades like pop colours, glow shine waist bands; abstract patterns and stretchable and quick dry fabrics, sleepwear, active wear, intimate wear, athleisure, maternity wear in the inner wear industry, has made it the new fashion essential.

Taking this into account, Dollar Industries, in its current season, has introduced Bigboss Heavy Duty Style, J-Class under the Dollar Bigboss, made of Egyptian cotton, best long-staple cotton in the world with extremely soft and agile entwines. The brand also launched J-Class around 3 months ago which has reported satisfactory sales along with the rave reviews from the consumers.

Active wears and graphic tees for women, leggings in various trendy color and patterns, glow shine waist bands for men’s brief, bold graphic printed tees for men, and stretchable and quick dry fabrics have also been recently introduced.

Retail Footprint

MBOs are the most significant retail format for the innerwear category though women are becoming increasingly comfortable walking into EBOs mostly inDollar aims to be Rs 2000 cr company by 2024 001 major cities. Dollar products are available in over 80,000 MBOs across 800 cities/towns of India “Dollar enjoys a massive goodwill among customers in India. Our products are available in over 800 cities across 26 states through 80,000 and more MBO’s. We also have online retail platform as a wing of our product distribution channel. Presently we are eyeing EBO’s and LFS,” says Vinod Kumar Gupta, Executive Managing Director, Dollar.

Exploring new avenues

Many brands prefer to sell discounted items online. Customers select the style and brand online and visit a nearby innerwear store or any of the large format stores to have a first-hand experience and then buy the product. This has led many innerwear brands including Dollar to enter into omni- channel retail which launched its own e-commerce retailing section three years ago. “Dollar too has increased its presence in e-commerce and among online retailers in the country with 2 per cent of its total sales coming from e-retailing,” explains Gupta.

Although the knitwear sector has received a satisfying response from online buyers, it is primarily a traditional market with people preferring to buy products from brick-and-mortar outlets which allow them to examine the product quality and size, physically. Dollar is present across India through several offline as well as online retail stores. Going beyond the precincts of the country, the brand is now tapping the Indian rural market, besides developing new channels of sale.

“Change is the new constant” and every change is a challenge. We are chasing our own strengths and trying to excel in it. Our goal is to reach Rs 2,000 crore by 2024 and our mission is to emerge as India’s best-loved hosiery brand and to make outerwear and inner wear fashionable yet affordable,” he sums up.

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