Apparel Online India Magazine October 1st Issue 2018 | Page 32

FASHION BUSINESS
DENIM MAKES A 180
TURNAROUND
o
How brands can maintain relevance and
keep revenue coming in
T
here is a reason to rejoice
for the denim industry. After
going through a period that was as
distressed as its ripped jeans style
that goes by the same name, the
denim industry is on an upswing.
According to a recent report
released by P&S Market Research,
jeans reached more than US $ 40
billion in global sales in 2016 and
the denim market as a whole is
expected to exceed US $ 87 billion
by 2023.
Jeans is a huge category, double
the size of leggings and still
bigger than categories like
blouses and coats. Data from
Edited suggests that retailers
are starting to refocus on their
denim assortments by planning
new releases. So far in this
quarter, there are 42 per cent more
denim products in stock than what
there were earlier at this time
last year.
Image courtesy: Edited
32 Apparel Online India |OCTOBER 1-15, 2018 | www.apparelresources.com
As a consequence of this, not only
manufacturers, but designers as
well are betting on denim revival.
Levi Strauss & Co. posted an 8 per
cent increase in 2017, owing to a
significant revamp of its women’s
jeans. This marks the jeans maker’s
strongest annual growth since 2011.
Hot streetwear brands Off-White
and Vetements have also garnered
a lot of attention for the washes on
their reworked denim and patchwork
styles respectively, while mass-
market labels such as American
Eagle Outfitters Inc. set a record
for volume last Fall, in an effort to
lure teens into stores by providing
a range of different silhouettes and
washes, from ripped high-waisted
‘jeggings’ to indigo mom jeans.
KEY PERFORMING
MARKETS
Geographically, North America has
been the largest denim market,