22 August 2024, Mumbai
A prominent player in the India’s hosiery and knitwear sector, Dollar Industries plans to expand its reach by opening 50 exclusive brand outlets in South India over the next two to three years.. The company’s ongoing investments in expansion and new product launches align with its Vision 2025, which aims to solidify its position as a market leader both domestically and internationally.
Founded in 1972, Dollar Industries has emerged as a prominent player in the Indian hosiery and knitwear sector. Holding an impressive 15 per cent market share, the company has become a cornerstone of textile exports, contributing significantly to the nation’s economic fabric.
With a strong presence in 28 states across India and robust sales in the Middle East, including the UAE, Oman, Jordan, and other key regions, Dollar Industries stands as a leading Indian innerwear brand with a growing international footprint.
The company has set its sights on further global expansion. Its foray into the Dubai Free Trade Zone enhances its logistics capabilities, allowing for faster shipping times and closer customer connectivity. This strategic move is part of Dollar Industries’ broader vision of becoming a dominant global player in the hosiery market.
The Indian innerwear industry has seen robust growth in recent years, expanding from Rs.15,870 crore in 2017 to a projected Rs.68,270 crore by 2024, with a consistent CAGR of 12 per cent. This sector constitutes 9 per cent of India’s fashion retail market and is divided into men’s and women’s segments, with the latter contributing 60 per cent to the overall market. The growth drivers include the rising number of working women, changing fashion trends, and increased disposable incomes. While the domestic market is flourishing, the global market presents untapped potential, with significant projected growth in both men’s and women’s segments.
The Indian athleisure industry is similarly on an upward trajectory, driven by evolving fashion preferences, rising incomes, and a growing focus on health and fitness. Currently valued at Rs.726.62 billion, the market is expected to reach Rs.997.8 billion by 2024-end, growing with a CAGR of 13.59 per cent. The industry offers vast opportunities for entrepreneurs, although challenges like sourcing sustainable fabrics persist. The focus on sustainability and innovation is expected to shape the future of this rapidly expanding market.
