Kolkata-headquartered hosiery-maker Dollar Industries is planning entry in the men’s denim-wear sector. The company will nationally launch ‘Force’ brand of denims this year. The brand made a low-profile entry in the eastern market towards the end of 2011.
‘Force’ is priced between Rs 900 and Rs 1,700 and is targeted primarily at the mid segment.
“Encouraged by good response in eastern markets, we will shortly introduce the brand in Uttar Pradesh, Maharashtra, Andhra Pradesh and Gujarat. By this year end we will launch the brand nationally,” Vinod Kr. Gupta, Managing Director, Dollar Industries, said.
According to him, talks are on with a retail chain for sale of the denim offerings, while its own distribution network will be used for pushing sales through smaller stores and multi brand outlets.
Dollar has also invested around Rs 5 crore in setting up capacities (for denim production) at its Howrah (West Bengal) and Delhi units. Each unit has a capacity of producing 500 pieces a day.
While jeans still contribute a miniscule to Dollar’s top line, Gupta is confident of sales picking up during the festive season. The company enjoys a 15 per cent market share in the hosiery market and clocked revenues of nearly Rs 450 crore in 2011-12. It competes with Rupa and Lux.
Plans are afoot to launch premium men’s innerwear under the ‘Force’ brand around February next year. Currently, ‘Big Boss’ is the company’s only premium offering.
The new range is expected to compete with Jockey and Levis in terms of both quality and price.
Dollar already has t-shirts and gym vests under the ‘Force’ brand name.
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