Dhaka, Tuesday, 24 May 2022

Denim in Mexico overshadows US & China

Denim in Mexico overshadows US & China

Apparel Desk: The global denim market is worth about $56 billion, says Statistic Brain. And the denim industry was expected to grow at a CAGR of over 6.5 per cent from 2015 to 2020, as per Technavio. The US accounts for $13.7 billion of that.

Euromonitor International study says, jeans is growing not just in the US but also in China and Mexico. In the United States, jeans showed slight growth both in volume and current value terms in 2016, after declining over the previous two years. In China, jeans registered current value growth of 5 per cent in China in 2016, with sales approaching$11.8 billion. In Mexico, standard and premium denim saw the fastest growth in 2016, increasing 8 per cent in current value terms.

In the US, jeans made a slow comeback in 2016 as consumers began investing in denim again after the athleisure trend matured a little. Millennials are willing to spend on clothing and accessories, Euromonitor International remarks. They tend to be more aware of the latest fashion trends and are looking for clothing and accessories to personalise their fashion style and update their look. This generation supported growth in sales of economy and standard jeans.

Denim has continued to adapt to ever-changing trends with new innovations in fabrics and the adoption of new silhouettes not typically designed for denim. Fabric mills keep up with the demand for more performance functionality and comfort with thedevelopment of innovative fabric blends and weaves.

Dio Kurazawa, Director-Denim, WGSN, believes the denim industry is on track for even the newest market trend — sportcore. Sportcore embraces a more streetstyle approach to athleisure.

Functional fabric

Kurazawa says denim makers were smart to increase denim’s comfort, as it helped them compete better against the athleisure influx. Stretch (denim) fabrics are relied upon from all three regions. The latest advancements in stretch technology allow for greater recovery than previously experienced. This is important for those consumers looking to achieve control and comfort without losing shape. Men’s skinny jean purchases have increased year-over-year (2016 to 2017 S/S) in the US, following its success in the EU.

Ripped denim with a relaxed cut also witnessed good sales in China in 2016, with rompers becoming a trending item there, as well. In Mexico, skinny jeans continue to be popular with women, and are increasingly so among men. Moreover, personalisation seems to be a growing trend in jeans, with brands offering many different types of washed out and ripped jeans, as well as stenciling and ripping.

Plus-sized brands are increasingly finding market in Mexico. The Euromonitor International cites Levi’s leading the way with its Shaping Plus line, targetted at curvy women and featuring renowned singer Carla Morrison as brand ambassador.

Denim diversity

Monitor™ Research highlights the diversity in denim is important in the Mexican market as consumers there wear jeans just over 4 days a week. This is significantly more than the 3 days a week consumers wear denim in the US and China. Mexican consumers also own the most denim garments (which includes jeans, jackets, shirts and skirts) at about 12 items. This is significantly more than denim ownership in the US (9) and China (7). Mexican consumers also own the most denim jeans on average at about 7 pairs, followed by the US at 7 and China at 3.

In the US, consumer interest lies with more authentic and comfortable-looking jeans, said Kurazawa. Consumers are no longer as interested in over-washed and processed jeans. The desire for real vintage jeans has begun to overshadow the factory-washed looks with their imitation distressing and whiskers. The EU market has seen a decline in the sale of these jeans as consumers opt for the true vintage experience. This trend will be followed in China too as they are often not far behind the North America market.