Dollar Industries joins hands with German retailers giants ?Carrefour and Lulus?

Kolkata, Nov 10 (IBNS) Dollar Industries Limited, a leading hosiery company, has joined hands with the German retail giants ?Carrefour and Lulus? for expanding business in the Gulf.

Dollar has also acquired a spinning mill at Tamil Nadu in an auction by State Bank of India.

?Dollar has its own Turbines in Tamil Nadu, hence to make use of the energy and take maximum benefit out of it; this spinning division is added to its portfolio,? said a company spokesperson.

The Spinning Mill is situated at V. Pudukottai Village in Dindigul district. The place Dindigul is known as the hub of backward integration for hosiery and textile industries in Tamil Nadu.

The total investment for the project is estimated around 65 crores.

The company currently boasts of four production units based in Kolkata, Tirupur, Ludhiana and Delhi. The production capacity of these factories is more than 3.5lakh pieces per day.

The company has procured 10Bigha land from West Bengal Hosiery Park Infrastructure Ltd., Kolkata and is planning to set up In-House production facilities.

Dollar Innerwear owns 15% of the branded hosiery market in India. The company?s turnover was Rs 300 crores in 2000-10 and it hopes to achieve Rs 350 crores by the end of 2010-11.