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Global denim market snail paced, Rajiv Dayal

Jun '07
Indian Denim has definitely carved a niche in the international arena. However, a slack market is observed in recent times.

Rajiv Dayal, Managing Director of Mafatlal Industries, leader in textiles for nearly 100 years, when contacted by Fibre2fashion elaborated the present domestic and international denim market.

Dayal said, “The last one and half year have not been easy for the denim market. Average denim prices fell to as low as Rs70-110 per metres and the average industry margins to as low as 5-10 percent as an over capacity of 250 million metres built up in just three years. The flourishing denim industry of 2002-05 encouraged existing players to go in for capacity expansion and induced new players to install fresh capacities.

Globally, denim market is estimated to be about 5.5 billion meters per annum and it is growing at 3-4 percent per annum.

The matured US and EU markets constitute over 50 Percent of the global consumption. Whilst the US markets are growing at 3-5 percent per annum, the fashion driven EU markets are increasing at 0-2 percent per annum. The Asian and emerging markets are the global drivers for growth at 5-15 percent per annum.

The Indian market size is 200-225 million meters per year (only 4 Percent of the global consumption) but rapidly growing at 8-10 percent per annum. From just five players six years ago now there are around 15 domestic players. This is driven by strong urban and rural consumer demand and export of garments (especially by large buying houses / brands like M&S, GAP etc). Besides, large retail chains like Pantaloon, Westside and Reliance are also fuelling the domestic retail requirement”.

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