Dollar Industries finds new JV partner to focus on premium knitwear segmentGreenback Industries on Tuesday claimed the G.O.A.T Model Labs has obtained the entire share of Pepe Jeans Europe in a JV organization in which the Kolkata-primarily based innerwear significant also holds a stake. Pepe Jeans, which had fashioned a 50:50 joint undertaking with Dollar Industries in India in 2017, not long ago determined to exit the JV entity.

The JV company – Pepe Denims Innerfashion- was incorporated to current market ‘Pepe’ brand fashion innerwear, loungewear, sleepwear and tracksuits for adults and kids in India and neighbouring markets, it mentioned.

The town-primarily based knitwear significant will now aim on premiumisation with the new spouse for the JV company.

“The new husband or wife – G.O.A.T Brand Labs – provides in knowledge and know-how to greatly enhance our direct-to-buyer abilities. With our JV, we intend to increase our item portfolio with a lot more premium brands,” Dollar Industries taking care of director Vinod Kumar Gupta said.

However gross sales of the JV firm had been at Rs 14 crore as in opposition to Dollar’s turnover of Rs 1,040 crore, the company holds “immense likely” to enhance its share in the high quality phase, he mentioned.

With the new JV partner, the innerwear organization supposed to innovate in the e-commerce room and raise direct-to-shopper product sales.

G.O.A.T would invest in a single crore equity shares of Pepe Innerfashion from Pepe Jeans Europe BV.

“It will also subscribe two per cent of further non-voting equity shares on the present and enhanced paid out-up money,” the official claimed.

Talking about the business prospect in FY22, Gupta explained the enterprise will aim at 15-20 per cent advancement in turnover, and 10-15 per cent in revenue in excess of the very last fiscal.