Hyderabad : Dollar Industries Limited, a renowned name in India’s lifestyle outerwear and innerwear sector, has unveiled its vision for the South Indian markets. In a significant move, Dollar Industries has appointed superstar Mr. Mahesh Babu as their Brand Ambassador for South India.
Key highlights :
- Enlists Superstar Mahesh Babu as Brand Ambassador
- Achieves Record Revenue in 2023-24
- Plans to Establish 50 Exclusive Brand Outlets Across South India by 2027
- Targets 50% Sales Growth in South India for 2024-25
The company, which commenced its journey in 1972 under the leadership of the visionary Mr. Din Dayal Gupta as Bhawani Textiles, currently commands a 15% market share in the branded hosiery segment in India. The group aims for an annual growth rate of 11% – 12%. Under its Vision South India strategy, Dollar Industries is aiming for a 50% increase in sales from the Southern market compared to the current year.
“We have observed a positive response to our products in the Southern markets, where consumers have embraced our quality offerings at competitive prices. This acceptance is reflected in our sales growth in these regions, with domestic sales recently surging to around 8%. With Mahesh Babu as our Brand Ambassador for the Southern market, we anticipate a further boost in brand visibility and sales. We are optimistic and aim to generate approximately 20% of our domestic revenue from the Southern market,” stated Mr. Vinod Kumar Gupta, Managing Director of Dollar Industries Ltd.
“Dollar Industries is witnessing strong demand and a growing share of higher-margin products in our portfolio. This favorable trend positions us well to achieve our targeted growth in revenue and profit in the near future. We also plan to establish 50 exclusive brand outlets across the Southern market in the next 3 years, providing consumers with access to the full range of Dollar products,” added Mr. Binay Kumar Gupta, Joint Managing Director of Dollar Industries Ltd.
Dollar offers a diverse range of products spanning six categories: MAN, WOMAN, JUNIOR, ALWAYS, THERMALS, and PROTECT. Bollywood superstar Mr. Akshay Kumar has been endorsing Dollar Man as the brand ambassador for over 14 years. Actress Ms. Yami Gautam represents Dollar Women (Missy), while actor Mr. Saif Ali Khan is the brand ambassador for Dollar Always (Lehar).
With manufacturing units in Kolkata, Ludhiana, Tirupur, and New Delhi, Dollar Industries aims to achieve a revenue of Rs 2000 crore by FY26. To realize this goal, the company initiated a capital expenditure in 2021 to enhance the spinning unit capacity in Tirupur from 22,000 spindles to 42,000 spindles. This investment has already been made, and the increased production capacity will soon come online, bolstering internal production capabilities.
“Tirupur serves as the hosiery industry hub due to its economic viability, and our production system there has witnessed significant growth over the years. Our dealers in the southern market have been invaluable in terms of sales and distribution support. Recently, we launched Project Lakshya to bolster sales in the south, starting with a pilot project in Karnataka in 2019. The positive response prompted us to expand this model nationwide in phases,” commented Mr. Vinod Kumar Gupta.
In FY24, Dollar Industries achieved robust financial performance, with gross profit growing by 22.6% YoY to ₹50,588 Lacs, EBITDA increasing by 61.5% to ₹15,864 Lacs, and PAT reaching ₹9,020 Lacs, reflecting a YoY growth of 71.7% and a PAT margin of 5.7%.
Dollar’s growth is sustained by its commitment to introducing new designs and quality products tailored to evolving customer preferences. Brand loyalty has also played a significant role. Embracing the latest technologies and innovations has enabled Dollar to set industry benchmarks. The company prioritizes eco-friendly production methods and has implemented a zero-discharge technique with an evaporation system.
As part of its Green Mission initiative, Dollar plans to expand its existing 4 MW Solar Power Plant by an additional 2 MW, bringing the total capacity to 6 MW.