The domestic jeanswear market is expected to cross Rs 1,900 crore this year, with about 35 million Indian consumers expected to purchase over 43 million pairs of jeans.
Men make up the chunk of consumption at 76 per cent, followed by women at 17 per cent and kids accounting for the remaining seven per cent, according to a study by IMAGES-KSA Technopark.
As per this research, the market has grown 12.5 per cent in 2004-05 over the previous fiscal and the main drivers of this business are greater push in the premium jeans segment (priced at Rs 1,000-2,000, growing at 25 per cent) and strengthening of the super premium range (priced over Rs 2,000).
The study shows the middle (priced Rs 500-1,000) and the economy ranges (Rs 300-500) as continuing to grow at 15 per cent and 10 per cent respectively. Unlike the higher brackets, the under Rs 300 segment however, still has no a national brand with equitable distribution and mass branding. And this opens up opportunities for branding on a national scale for domestic brands, the study said.