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High flying denim sector feeling heat of slowdown
18
Apr '09
The denim industry in most countries like India, Pakistan and Bangladesh had been flourishing since the last few years, buoyed by the increase in demand from all segments of consumers and also helped no less by changing fashion trends.

But since the economic turmoil unfolded in September 2008, the sub-sector is feeling the strain in most of the denim producing countries, including Bangladesh. The slowdown has impelled the denim producers to put expansion plans on hold indefinitely.

The biggest setback for the denim producers is the drastic fall in denim fabric prices. Prices which were ruling at US $2.0-2.5 per sq. metre have fallen to just $1.5-1.75 per sq. metre in the last six months, a fall of $0.75 per sq. metre or nearly 28 percent.

Denimwear for men fetched the second spot from amongst all garment products exported to the EU in the last fiscal and notched up $290.9 million and grew by 5.43 percent. Women's denimwear also rose by 4.58 percent to touch $129.44 million.

From just seven denim manufacturers in the country, seven years ago, there are now 17 in number producing 300 million metres of fabric per year. Experts suggest investing in new technology and constantly innovating to beat the slowdown.

Fibre2fashion News Desk - India

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