Summary:
Kolkata, Dec 7 (PTI) Dollar Industries on Tuesday said the G.O.A.T Brand Labs has acquired the entire share of Pepe Jeans Europe in a JV company in which the Kolkata-based innerwear major also holds a stake.
Pepe Jeans, which had formed a 50:50 joint venture with Dollar Industries in India in 2017, recently decided to exit the JV entity.
The JV company - Pepe Jeans Innerfashion- was incorporated to market "Pepe" brand fashion innerwear, loungewear, sleepwear and tracksuits for adults and kids in India and neighbouring markets, it said.
The city-based knitwear major will now focus on premiumisation with the new partner for the JV firm.
"The new partner - G.O.A.T Brand Labs - brings in expertise and technology to enhance our direct-to-consumer capabilities.
With our JV, we intend to expand our product portfolio with more premium brands,” Dollar Industries managing director Vinod Kumar Gupta said.