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What's driving the Denim Market Growth?| Key Players: Levi Strauss & Co., Gap Inc., Pepe Jeans London, VF Corporation, U.S. Polo Assn. Retail (USA)
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The denim market in APAC is expected to witness fastest CAGR of over 10%, during 2018–2023. The rising disposable income of people, expanding base of working-class population, availability of ample amount of raw materials and cost-friendly labor resources, as well as increasing government initiatives in countries like India, China, and Vietnam are the key factors contributing to the growth of market in the region.
Based on distribution channel, the denim market has been categorized into specialty stores, department stores, hypermarkets and supermarkets, online, and exclusive stores. Of these, the specialty stores held the largest market share of around 23% in 2017, owing to the fact that these stores offer various brands under one roof and attractive pricing to lure customers.
Customers in the APAC region are not behind from spending lavishly over necessity and luxury. While luxury retail is exhibiting a good growth period in India, the market from denim-based products is also growing with rise in overall disposable income and greater affordability of popular denim brands, such as H&M and Zara.
Apart from this, premium denim designers are also leveraging the advantage of e-commerce by offering special category designs on popular sites like Amazon, Alibaba.com, JD.com, and Flipkart, and setting-up exclusive sections dedicated to their collections.
Globally, online mode has emerged as a preferred distribution channel for denim vendors, as the channel enables vendors to provide customized denim products as per the customer’s requirements of size and color.
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Some of the key players operating in the denim market are Levi Strauss & Co., The Gap Inc., VF Corporation, H & M Hennes & Mauritz AB, PVH Corp, Kering, Pepe Jeans S.L., Bestseller A/S, U.S. Polo Assn.
Global Denim Market Segmentation
By Product
• Jeans
• Jackets and Shirts
• Dresses
• Others (includes tops and shorts)
By Segment
• Mass Market
• Standard
• Premium
By Consumer Type
• Men
• Women
• Children
By Distribution Channel
• Specialty Stores
• Department Stores
• Hypermarkets and Supermarkets
• Online
• Exclusive Stores
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P&S Intelligence is a provider of market research and consulting services catering to the market information needs of burgeoning industries across the world. Providing the plinth of market intelligence, P&S as an enterprising research and consulting company, believes in providing thorough landscape analyses on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness.
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