Pepe Jeans enters South Asia market through joint venture with Dollar Industries
Pepe Jeans Europe BV has entered into a joint venture (JV) with Indian hosiery Dollar Industries Ltd.
Pepe Jeans enters South Asia market through joint venture with Dollar Industries
The partnership comes in as part of a strategic investment to market products in India, Sri Lanka, Nepal, Bhutan and Bangladesh. As part of the deal, both Dollar Industries and Pepe Jeans will hold a 50% stake in the JV Company.
Kavindra Mishra, managing director, Pepe Jeans India, said: “Pepe Jeans’ expansion into newer categories is a strategic progression of the brand. Our objective was to partner with an Indian brand with a strong distribution and production set up."
"This is a strategic investment for the brand. We are funding the JV as per a strong scalable business plan. We believe that at present there is a gap in the market, and therefore immense potential for a strong innovative premium innerwear brand to grow," he added.
“The innerwear category is a high growth category in the apparel market. With higher discretionary spending and growing fashion consciousness, this segment is poised to grow exponentially," said Vinod Kumar Gupta, managing director, Dollar Industries.
He added, "This association will also help us in consolidating our market share. Pepe Jeans and Dollar both believes in Innovation and creativity which is the heart of their activities."