- E-commerce emerges as a boon for the denim market.
- Denim market to note sound growth in the Asia-Pacific region.
- Hennes & Mauritz AB (H&M) accounted for the highest market share.
Denim apparels have an established market throughout the globe and increasing demand for new variety and styles of apparels is further driving the growth of the market. Also, high adoption of marketing strategies by the key players is one of the significant factors for the rising growth for Global Denim Market. Major players in the global denim market emphasizes in the new product development and promotional activities to retain its competitive market share.
Hennes & Mauritz AB (H&M) accounted for the highest market share in terms of development share and is estimated to account for 20.4% of the developmental share in the year of 2017 in the global denim market. The company is mainly focussed on product launches, partnerships, and expansions. H&M strategic growth is aimed at expanding its retail presence in the US and Asia-Pacific and accelerating its presence in e-commerce and supermarkets & hypermarkets. For instance, in September 2018, H&M expanded its portfolio with the launch of a new children’s wear collection, designed from sustainable materials. Additionally, in October 2016, H&M launched the KENZO x H&M collection in New York. The collection, which is designed by KENZO Creative Directors Carol Lim and Humberto Leon, is made available at over 250 H&M stores worldwide and online.
Leading Key Players:
Major key players listed in the denim market include
- American Eagle Outfitters, Inc. (US)
- PVH Corp. (US)
- Inditex (Industria de Diseño Textil SA) (Spain)
- Hennes & Mauritz AB (H&M) (Sweden)
Other major manufacturers include VF Corporation (US), Levi Strauss & Co. (US), Gildan Activewear, Inc. (Canada), AG Adriano Goldschmied, Inc. (US), Uniqlo Co. Ltd (Japan), and Citizen of Humanity LLC (US), among many others. These companies are also found to have focus on strategic product launch to seek consumers’ attention towards their apparel range. Additionally, the companies are inclined towards product promotions. The promotional strategy aids in retaining the existing customers and to regenerating new customer base.
Denim Market has been Classified based on Type, Consumer Group, Distribution Channel, and Region.
Based on Type Denim Market has been Segmented into Loose Fit, Slim Fit, Others.
Based on consumer group Denim Market has been Segmented into Male, Female.
Based on Distribution Channel Denim Market has been Segmented into Store-Based, Non-Store Based.
PVH Corp. accounted for 16.9% of the total development share in 2017. PVH Corp. emphasizes on product launches with changes in the design and materials used for denim as per the consumer’s preference. Additionally, the company is enhancing its distribution channel and increasing its global footprint through agreements with major distributors. For instance, in July 2018, the company launched a centralized e-commerce platform for its Heritage Brands, to increase the distribution network of its brands.
Inditex accounted for a share of 16.6% in the global denim market in the year of 2017. The company capitalizes heavily in product launches. Moreover, the company participates in various events and exhibitions to build strong relationships with its channel partners. The company also aims at escalating its presence in the international market with a focus on emerging and developed economies. In April 2018, the company opened its first for & from store in San Sebastian de los Reyes (Madrid), Spain. Furthermore, in February 2017, the Stradivarius operates under the company has introduced its first fashion line for men, which is available in a selected number of international stores, as well as it has presence its e-commerce platform.
American Eagle Outfitters, Inc. accounted for 13.6% share in the year of 2017. The company emphasizes in merger & acquisitions to enter the new market. Moreover, the company is emphasizing in the emerging economies of Asia-Pacific region to increase the volume sales. For instance, in September 2017, the company expanded its presence in Mumbai and Delhi, India by signing a multi-year license agreement with the Aditya Birla Group, a leading Indian conglomerate with an extensive retail portfolio.