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Jean-Splicing
(Ecomonic Times, The (India) (KRT) Via Thomson Dialog NewsEdge) Feb. 22--One of the world's oldest fabrics has one of the world's youngest images. Of course a large part of the youth image began with a five-pocket, metal rivet story spun by Levi's, which went on to become an iconic brand. Today, the jeans and denim story has come a long way from its working-class origins.
Yet, its unrivalled success saw a huge dip at the end of the 20th century. It began in Europe in 1998, and hit India in the beginning of the 21st century. "The two-three years that denim went through its lowest phase in its 200-year history shocked everyone. Ever since, it has seen a renaissance," says Chetan Shah, country head -- India, Pepe Jeans London. And that renaissance, according to Darshan Mehta, president, Arvind Brands, has come from its new super-premium segment.
"Denim in its new avatar has returned as a fashion product, as compared to the comfort platform. To see the most cutting-edge fashion buyers totting designer jeans at high society fashion events is a common sight. Currently, there is no other fabric that is as versatile." This has also led to heritage brands such as Lee, and new entrants like Tuscan Verve, tying up with couture designers such as Ritu Beri (Lee) and Rocky S and Suneet Varma (Tuscan Verve) to launch limited edition, high-end, high-fashion products.
This follows on the heels of international trends, where the super-premium segment, though forming a small percentage, is growing fast and lending the jeans a totally new edge. From Gucci (the most expensive jeans in the world, according to a Forbes survey) at over US$ 3,000, to Seven for All Mankind, Citizens of Humanity, True Religion and Hudson, to nearly every fashion and luxury retail house in Europe and the US, premium jeans and also the super-premium segment are what are raking in the moolah. A presence in the premium segment has become crucial, definitely in terms of brand positioning.
Which is why Levi's, while wooing the masses at Wal-Mart and Target with its Signature brand, is now looking at the top end of the pyramid with a 2006 launch of the Andy Warhol Factory X collection. "There has been a huge resurgence of jeans, especially in the high-end, in haute couture jeans, where the consumer is looking for very refined detailing. Our women consumers are interested in both formal and informal jeans. More and more fashion is being 'consumed', not just purchased. Our customers do not go to buy but to enjoy what they will wear," says Massimo Macchi, CEO, Italian fashion house, Gianfranco Ferre.
His Italian friend, Beatrice Trussardi, agrees. The 34-year-old CEO of Trussardi has seen her jeans category growing at 5 percent to 10 percent across categories. "Jeans express a lifestyle which offers you choices for different situations, it is more about smart casuals or urban well-wear," she says.
With fashion leading, can women be far behind? Both the fashion and the mass market in the US$ 14-billion jeans industry are driven by women today. Whether it is John Anderson, president -- Asia Pacific, Levi Strauss, who says that the Levi's ratio of women to men (worldwide) is 55:45, or Arvind Brands' Mehta, who says women drive nearly 35 percent of the volumes at Lee and Wrangler, or Pepe's Shah, who says over the last three years he has seen the ratio rise from 20 percent to over 35 percent today, more women are buying jeans.
"The woman consumer has been driving the growth of premium jeans wear. This has particularly accelerated after the advent of the 'low-waisted jeans'. Just when you thought that if the jeans went any lower they would fall off the butt, the front further goes down by half a centimetre! International brands like Seven have, through a sexy fit proposition, exploded the premium women's jeans market. Both Lee and Wrangler today derive nearly 35 percent of their volume and value sales from the women's range. And it is growing," says Mehta.
Another contributor is the resurgence of "authentic vintage" or "retro" as the dominant fashion scene. "The basic direction of denim fashion is that the consumers would like to wear jeans not as 'brand new' but as the kind of jeans that they grew up in or possibly inherited from their father. Thus, all the innovations in terms of washing and hand treatments revolve around simulating on brand new jeans the look of an old pair. In other words, consumers are willing to pay for new jeans provided they look 10 to 20 years old," says Mehta.
The innovations in the fabric lend the designers an edge. "The fit is crucial for the fashion-edge, so for men I use a denim which has a 6 percent lycra, which gives it the perfect snug fit. Younger men like this better, and since I am designing this for a club brand (Tuscan Verve), I deliberately avoid the over-torn or over-stressed and keep it dressy," says couturier Varma, a self-avowed fan of Seven, whose fits he says are to die for.
"We saw major growth in the first half of 2005. This growth came largely from key international brands and the domestic Indian market too. If we analyse this growth for individual brands, it ranges from 10 percent (where we had a larger share of that brand's total denim purchase) to 100 percent (we had a small presence). We have also made an entry in a small way in the premium denim segment which is dominated by the Japanese and a few Italian denim mills. Though the total numbers in this segment are small, it is growing at a fast pace," says Jayesh Shah, chief financial officer of Arvind Mills, India's largest denim manufacturer, who exports to over 70 countries. The blues for sure are proving to be a source of great joy these days.
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