VF Corp., through its JV VF-Arvind Brands,wants to be a major player in the value jeans segment in India through its value brands like Hero and Riders . To this end, it is aiming to tie up with the various important retailers in India including Wal-Mart .
VF had been more focused on the premium segment of the market through its brands – Wrangler and Lee – but realised the importance of the value segment . Its main competitor – Levi Strauss – had also realised the same and sold its Signature brand through Wal-Mart (among other retailers).
As Reported by Economic Times , the total size of the Jeans market in India is about 40-45 million pairs of denim and out of which 44 million pairs are in the value segment(Less than Rs 1000).
Though I agree with the % of value segment , I feel that the total size of the market of Jeans in India is much bigger. Denim, which used to be mainly an export item, is currently mainly a product for domestic sale (apart from some sale to garment exporters).
I am running out of time and will write more about this shortly.
