PRLog (Press Release) -
Feb 14, 2007 -
The world jeans market was worth US$49 bn in 2004. However, growth is slowing due to the popularity of alternative garments—such as combat trousers—and also, in part, to market saturation. Market saturation is, in turn, attributable to the emergence of new fabric and garment capacities in developing countries following the removal of quotas at the end of 2004. Indeed, about 50% of global denim capacity is now concentrated in Asian mills, and the bulk of this is in China. Meanwhile, several other countries have built new, vibrant denim industries. In Turkey, for example, jeans exports surged by 30% in value terms to US$1.4 bn in 2005. Global demand is set to rise by 5-6% in the coming year, but global supplies will grow by a faster 8%. Manufacturers’
capacities are increasing significantly, buoyed by low cotton prices and the more liberal trading environment following the end of quotas. In the Indian city of Ahmedabad alone, mills will supply around 500 mn metres by the end of 2006. To maintain growth, a number of denim manufacturers—
including Arvind Mills in India—are investing downstream in garment production and selling international brands under licence through domestic retail outlets. Successful manufacturers will also include those who pursue strategies of product differentiation with a greater emphasis on design. Globally, denim designers are experimenting with fabric and garment details—including embellishments—
in order to add value. New add-ons are being incorporated in the form of patches, appliqué, rhinestones and glitter. Some of the leading branded jeans manufacturers are also incorporating smart fabrics and interactive technologies. Levi Strauss, for example, has designed jeans which are compatible with the iPod music player.
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