Dollar Industries, is one of the leading hosiery manufacturers in India. The company offers a long list of iconic brands such as Bigboss, Force, Club, Missy, Champion, Wintercare, Ultra Thermals, Footprints and Myme. Dollar’s manufacturing facilities are located at Kolkata, Tiruppur, Dindugul, Erode, Delhi and Ludhiana.
The company has done very well in the first 6 months of the current financial year. In an exclusive chat Vinod Kumar Gupta, Managing Director of the company stated that the company has declared its best ever quarterly revenue as it displayed a bumper performance on all fronts.
“Our thirst for growth at all levels is clearly visible in this quarter and we are looking to further improve on this in the coming two quarters to meet our targeted growth rates,” he adds.
Despite the pandemic in the last 18 months, the knitwear segment has been one of the major beneficiaries because of the increase in demand for leisure and fitness wear. The trend is evident from Dollar‘s performance.
“During the pandemic, our athleisure segment has witnessed tremendous growth. In the last 18 months, total contribution from this segment is approximately Rs.200 crore which is almost 12% of the revenue,” reveals Gupta.
Last year, approximately 6% of the company’s revenue was generated from exports and rest 94% was from domestic market. In current first half the export sales account for 8% of total revenue and balance 92 % from domestic market.
The company’s major markets are: UAE, Oman, Qatar, Kuwait, Bahrain, Yemen, Iraq, Nepal, Myanmar, Nigeria, Algeria, Ukraine, and Kenya.
Dollar Industries has planned an investment of Rs. 50 crores for an integrated warehouse and an additional Rs. 65 crores for brownfield expansion of spinning capacity.
Key strengths
Gupta sounds optimistic about the growth of the knitwear segment in India and globally in the near future.
“We believe that the knitwear industry will be witnessing a surge in demand in the coming years. Innerwear and athleisure will be the key segments that will witness a spike in sales. At Dollar, men’s innerwear segment consists of 60% of the product portfolio which is rapidly growing every year. The other segment that has picked up pace is the women’s innerwear segment buoyed by increasing number of working women, evolving fashion trends, improved awareness about varied fittings and increasing disposable income,” he explains.
Speaking about new product launches, Gupta states:” Dollar consists of an extensive product portfolio and is a one-stop shop for consumers, irrespective of demographics, gender and age groups. Our products are consolidated in 5 broad categories – Man, Woman, Junior, Always& Thermals. We are soon launching our brasier segment which will expand our Missy portfolio.”
The company has well defined vision and mission plan for 2025. “Our goal is to be a Rs. 2000 crore revenue company by FY2024-25,” says Gupta.
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Dollar boasts of robust infrastructure. The manufacturing infrastructure includes:-
Spinning:
• The company manufactures 100% cotton combed quality yarn in different count ranges
• Raw material is sourced from India and abroad. Raw material used is fine quality fibre with lowest possible contamination
• Blow and carding machine is equipped with vital attachments from Trutzschler and Trumac
• Ne 20s and 40s single yarn is produced with average monthly output of 400 tonnes
Knitting:
• Dollar’s knitted fabric range includes a wide variety of fabrics such as single jersey, pique and fleece
• Our knitting machines are from Mayer and CIE, Terrort, Smart and Unitex
• In-built monthly capacity of 300 tonnes and sourcing of 300 tonnes
Dyeing and Bleaching:
• The company’s processing division is complete with latest automation and lab equipment
• Dyeing and Bleaching using eco-friendly dyes and chemicals is a part of processing
• Processing machines from Salvos, MCS, Blanco, Strahm, Corino and Fongs
• Installed capacity of monthly 400 tonnes
Production Capacity:
• The company’s operations include Cotton Procurement, Research & Development, Stitching and Packing
• Dollar’s elastic production capacity is 25 lakh metres per month
• The company also has a cutting capacity of 3 lakh pieces per day