Pepe to Make Innerware in India in Tie-up with Dollar
Kolkata: British denim and casual wear brand Pepe Jeans London is foraying into the innerwear segment in India through a joint venture with Kolkata-based hosiery firm Dollar Industries.
The 50:50 venture, christened Pepe Jeans Inner Fashions, will manufacture and market premium fashion innerwear, lounge wear, gym wear, sleep wear and track suits for adults and kids, the two partners said on Friday.
Pepe Jeans will bring in ₹ 36 crore as foreign direct investment initially into the company that will start with paid-up capital of ₹ 72 crore. Over the next four-to-five years, the JV partners plan to invest ₹ 200 crore into this entity in a phased manner, the firms said.
The firm will market the entire range of innerwear under Pepe Jeans London. “Globally, we have our innerwear category but it was absent in India,” Pepe Jeans India MD Kavindra Mishra told reporters on Friday.
Besides India, Pepe Jeans Inner Fashions plans to make its entire range available in Sri Lanka, Nepal, Bhutan and Bangladesh. Pepe Jeans’ expansion into newer categories is a strategic progression of the brand after launching kids wear two years back.