Dollar Industries to expand export market

Hosiery major Dollar Industries will be entering the Bangladesh, Pakistan and Sri Lanka markets with garments of the Crocodile brand of which it has manufacturing and selling rights.

The company, which has tie-ups with international retail giants like Carrefour and Lulus, will be expanding its export market to Africa.

"We are hoping for a 50-percent jump in the sale of Crocodile garments. Right now, we sell it only in Nepal and Bhutan. We will now be entering Bangladesh, Pakistan and Sri Lanka," said managing director Vinod Gupta.

"Talks are on to enter the Nigerian market. We already have a strong presence in the Middle East and South East Asia, and we are gradually expanding our export market," he said.

Gupta said the company was targeting to increase its turnover to Rs.850 crore this fiscal from the Rs.688.93 crore it registered in 2013-14.

The company, which now has four manufacturing units, plans to set up another in Ludhiana in the next two years.