Dollar Industries partners with G.O.A.T Brand Labs for JV company Pepe Jeans Innerfashion
Garment business Dollar Industries has announced that direct-to-customer business investor G.O.A.T Brand Labs has acquired Pepe Jeans Europe in a joint venture company where Dollar Industries also has a stake.
In 2017, Pepe Jeans formed a 50-50 joint venture with Dollar Industries but recently decided to exit the joint venture entity. On December 7, Dollar Industries announced the creation on a new joint venture business with G.O.A.T Brand Labs named ‘Pepe Jeans Innerfashion’, the Press Trust of India reported.
Pepe Jeans Innerfashion has been incorporated to market the Pepe brand’s line of innerwear, sleepwear, loungewear, and tracksuits for both adults and children in India and its neighbouring markets. G.O.A.T Brand Labs will purchase Rs 1 crore ($150,000) of equity shares of Pepe Jeans Innerfashion from Pepe Jeans Europe BV, ET Bureau reported.
“The new partner - G.O.A.T Brand Labs - brings in expertise and technology to enhance our direct-to-consumer capabilities,” said Dollar Industries’ managing director Vinod Kumar Gupta, the Press Trust of India reported. “With our JV, we intend to expand our product portfolio with more premium brands.”
The joint venture has significant potential to increase Dollar Industries’ share in the premium segment, according to Gupta. The business also aims to work with its new joint venture partner to expand and innovate in the e-commerce market as well as boost its direct-to-consumer sales.
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