The denim wear market is growing rapidly in the country. It is currently estimated at $1 billion and expected to reach $2.1 billion by 2015.
The capacity for denim is expected to grow at 12 per cent annually to reach 1,130 million metres by 2015 from the current capacity of 640 metres.
The key growth drivers are: The fast growing youth and urban population; denim manufacturing picking up pace with more large and improved units coming up; and more people wearing it to the work place.
Denim brands in India see potential in all segments of the market — lower medium, medium and semi-premium/premium.
International brands like Levis, Pepe Jeans and Wrangler have seen steady growth over the years. Others like Mustang, Calvin Klein and Guess are also increasing their footprint. Mango, Zara and Marks & Spencer have introduced denim jeans at the entry level to attract first time consumers. Levis introduced its low-priced Signature brand in India a few years ago and has shown high growth in this segment.