Dollar Industries Ltd will invest about ₹120 crore for capacity expansion and enhancing its product portfolio over the next three years.
The company will add one more spinning mill at Dindugul in Tamil Nadu and set up a warehousing facility-cum-hosiery park at Jagdishpur in West Bengal as a part of its Vision 2025. The warehousing facility will act as a centralised despatch centre easing out logistics, enhancing economy of scale, rationalising of staff and output and facilitating faster delivery.
Plans are afoot to expand the knitting unit at Tirupur. It also plans to open 125 exclusive brand outlets, mostly in Tier-II and Tier-III cities by 2025.
“Steady and sustained growth, based on a clear vision has enabled Dollar Industries to become a global brand. The younger generation has been successful in making Dollar’s presence felt across e-commerce platforms which has given a great boost to the business,” Din Dayal Gupta, Founder & Chairman Emeritus, Dollar Industries, said while unveiling a special logo to mark their 50th year here on Monday.
The company, which achieved a turnover of ₹1,357 crore in FY22, aims to touch revenues of ₹2,000 crore by 2025.