Dollar Industries Expands in South India: Plans 50 New Stores in Three Years

Dollar Industries Ltd plans a major expansion in South India, opening 50 new stores within three years. The company aims for 11-12% year-on-year growth and anticipates a 50% sales surge in the region. Endorsed by actor Mahesh Babu, the company sets a revenue target of Rs 2,000 crore by 2025-26.

Dollar Industries Ltd unveiled ambitious expansion plans in South India on Thursday. The company is set to inaugurate 50 new stores over the next three years, strengthening its footprint in the region.

Currently holding a 15% stake in the branded hosiery segment, Dollar Industries aims for an 11-12% annual growth rate. Under its 'Vision South India' initiative, the company expects a 50% increase in sales from this region compared to the existing year.

Mahesh Babu, a renowned Telegu actor, backs the brand's southern campaign, helping it target 20% of its domestic revenue from the region, a substantial leap from the present 8%, stated MD Vinod Kumar Gupta. This strategy aligns with the company's goal of achieving a revenue milestone of Rs 2,000 crore by the 2025-26 period.

Investments have been ramped up to enhance the spinning unit capacity in Tirupur to meet heightened demand and introduce higher-margin products. The company plans to launch 50 exclusive brand outlets across South India within the next three years. Dollar Industries operates manufacturing units in Kolkata, Ludhiana, Tirupur, and New Delhi, along with a 6-MW solar power plant, with an additional 2-MW unit pending government approval.

For the fiscal year 2023-24, Dollar Industries reported a notable 71.7% rise in net profit, reaching Rs 90.20 crore, and a 61.5% increase in EBITDA, amounting to Rs 158.64 crore.

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