India’s largest international luxury conglomerate Genesis Luxury has redefined fashion retailing with innovative strategies that transcend borders has tied up with Dutch clothing brand G-Star RAW, popular for its denim-wear for distribution and marketing deal for the Indian market.
Genesis plans to open 30 points of sale for G-Star in the next five years. G-Star, established in Amsterdam in 1989 has more than 6,500 points of sale across the world.
Denim is popular in India and this brand which specialises in making raw, or unwashed and untreated, denim, and positioned as 'luxury denim for the streets’ will target young consumers looking for "catchy fashion". A pair of denim will be broadly priced anywhere between Rs 6,000 and Rs 14,000.
According Arvind Singhal, managing director of Technopak Advisors, denim has acceptance not only urban India, but also among rural consumers. Due to this reason, the scope for growth in this segment is tremendous.
Technopak projects denim apparel market in the country to grow 14% a year to reach Rs 21,250 crore by 2018, up from Rs 10,980 crore in 2013. It expects the core consuming age group of 15 to 39 years to widen to 566 million from the present 499 million over the next decade. The women's and kids segments currently make up only a small share. But with the increasing urbanisation and acceptance these segments are projected to grow faster.
A host of international denim brands have made inroads into the country over the years. Brands like Lee, Wrangler, Levi Strauss and Pepe have been around for a long time in the country. Comparatively new entrants include GAS, Diesel, Superdry and Armani Jeans in the premium price segment, and Burberry, Versace, Gucci and Roberto Cavalli in the high-end luxury space.
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