India’s largest manufacturer of denim fabric, Arvind Textiles, and one of the world’s largest integrated producers of chemical intermediates, polymers and fibres, Invista, recently announced a partnership to manufacture Arvind stretch denim fabric exclusively with LYCRA® Fibre. Post this development, Aamir Akhtar speaks to Indiaretailing on how this partnership will play a key role in the growth of Arvind’s denim business in 2015.
With sales of 450 million metres per month, which accounts for 12-14 per cent of the market, what are your strategies to increase your share in the denim market in India?
We will focus more on the product innovation aligned with the international trends to increase our wallet of share. Arvind with its belief in design, innovation and sustainability will now offer a differentiated, premium denim fabric to brands in the Indian market. The tie-up assists Arvind to drive penetration and increase market share in the domestic market. The total denim business in India is 450 million metres per month and Arvind presently has a market share of 12-14 per cent and a leader in the space.
How do you plan to achieve the target of 20-30 per cent growth by the end of the year?
Rather than going into the mass market, we will focus on protecting current share of the market and remain in the niche category of business. This partnership will play a key role in the growth of Arvind’s denim business in 2015, Arvind is targeting a growth of20-30 per cent by this fiscal. As part of this collaboration, Arvind will ensure that all Arvind denim fabrics are provided with an Arvind-LYCRA® co-branded Hangtag, communicating the benefits to the end consumer.
What are the next big trends in denim fabric design/innovation?
Well, the biggest trends in the market are knits and its variants, dobbies and mink finishes.
Over the past few years, Arvind and Invista together have delivered many firsts in denim, enabling brands to bring differentiated denim products for their respective discerning customers. The denim collection at Arvind has the latest innovations with concepts like Mutant Denim, Denim Structures, Neo Denim, Neo Cord, Neo Bubble and Boomerang Denim. All Arvind concepts have stretches powered by LYCRA® fibre and additionally showcase INVISTA performance concepts of dualFX®technology by LYCRA® brand, COOLMAX® fabric, COOLMAX® ALL SEASON® fabric and THERMOLITE® fabric.