The youth-driven denim market promises unmatched value as well as volume growth in the overall Indian apparel market.
The market size of Indian Denim Wear was estimated to be Rs 20,205 crore in 2016. The market is now projected to grow at a CAGR of 14.5 per cent and reach Rs 39,651 crore by 2021, and Rs 77,999 crore market by 2026. The men’s denim segment comprises 84 per cent of the market while the women’s denim segment and kids’ denim segment comprise 10 per cent and 6 per cent respectively.
Men’s Denim Segment: Men’s denim enjoys the largest share and is poised to grow at a high CAGR of 14 per cent over the next decade. Until a few years ago, denim was popular with men in the urban cities only, however, it has now gradually become popular in the semi-urban and rural markets also. Growing awareness and an increasing affinity for global fashion have led to this development. Denim is considered the most versatile fabric for men with multiple applications over casual wear, work wear and everyday wear.
Women’s Denim Segment: Among Indian women, jeans or denim trousers are the most popular items. Denim is also gaining popularity in athleisure form among women owing to the comfort provided by the stretch denim fabric. This segment is expected to grow the fastest at the CAGR of 17.5 per cent.
Kids’ Denim Segment: This is the smallest segment in the domestic market, but is expected to grow at a high rate primarily due to the availability of the products led by the innovations in the industry for natural, hygienic and flexible fabrics.
11 BEING HUMAN
Being Human, a clothing line with a heart, was launched by Salman Khan in 2012. The brand is globally licensed by Mandhana Retail Ventures Ltd., and has a retail presence in over 15 countries with more than 700 points-of-sale. The brand’s combined ethos of celebrity, charity and fashion has been a catalyst in its global reach since its inception in 2012.
Target Group: Being Human’s customer base includes people who believe in international fashion and follow the latest trends. However, they believe in doing good too by helping the brand’s initiatives in healthcare and education. Hence, the ‘Look Good and Do Good’ philosophy.
Product Basket: Denim occupies close to 65 per cent in bottom wear and about 18 per cent overall in the net product basket of the brand. Apart from jeans, the brand’s denim line includes a big range of shirts which include indigo checks, prints and structures. In terms of style, the line ranges from western and work wear inspired to more clean modern versions.
Category Expansion Plans: The brand is planning to launch its range of denim jackets soon.
Key Markets: Being Human Clothing currently operates 55 exclusive stores across 43 cities in India including Ahmedabad, Ajmer, Aurangabad, Bengaluru, Bhilwara, Bhopal, Chandigarh, Delhi NCR, Gwalior, Hyderabad, Indore, Kolhapur, Kolkata, Lucknow, Mumbai, Varanasi and Vijayawada among others. The brand’s primary market is the West and the North region.
Top Retailers: Ahmedabad One, Palladium (Mumbai), Viviana (Thane), VR Mall (Surat), and DLF Promenade (Delhi).
Market Expansion Plans: Being Human is aiming to open at least 20 stores per year. The brand has outlined that 70 per cent of the stores will be launched in Tier -I, -II and -III cities given the demand it has witnessed so far and is aiming at 20 percent year-on-year growth. A few of the cities on the roadmap are Patna, Bhubaneswar, Jamshedpur and Raipur, among others.
Online Presence: Presently, the brand does not have an online selling website of its own. Although it retails on some of the biggest online partners such as ABOF, Flipkart, Fynd, Koovs and Myntra. Approximately 15 per cent of the brand’s total sale is driven by its online presence.
Omnichannel Presence: The brand is in discussions with partners that will help it align its online and physical stores in a seamless manner, that will help the brand to fulfill online orders via physical stores. The brand is also looking forward to launching its online retailing website very soon.