Hosiery major Dollar Industries is looking at acquisition opportunities as it plans to enter the booming lingerie business by the first half of next financial year. The company is also eyeing up to 10 percent growth in revenue at about Rs 1,050 crore in the current fiscal.
“We are looking at inorganic opportunities to enter into the lingerie business. We have looked at some companies, but didn’t get good value. We see huge opportunity in the lingerie business,” Ankit Gupta, Chief Financial Officer, Dollar Industries told PTI.
“We have also set up a team to look at the possibility of doing lingerie in-house. We want to enter this segment by first half of next fiscal,” he further told PTI.
According to a PTI report: Dollar Industries is also looking at building up its kids portfolio and getting into readymade garments segment for kids, Gupta said.
The company, which reported revenue of Rs 974 crore in the previous fiscal, is targeting revenue of Rs 1,050 crore in the current fiscal.
“We were hit badly in the last quarter of the previous financial year and first quarter this year due to the COVID-19 pandemic. Business is doing well now. We are looking at clocking 8-10 percent revenue growth in the current fiscal,” Gupta told PTI.
In May this year, the company unveiled its new brand identity ‘Wear the Change’ with a fresh logo. It also consolidated its brands to five segments — men, women, junior, thermal and always — and restructured its distribution channel to improve efficiency.
Earlier, the company had multiple sub-brands for the product categories it operates in.