Project Report on

Textiles Industry and Value Chain Analysis of Arvind Denim

Submitted as a part of the course work in Business to Business Marketing

POST GRADUATE PROGRAMME 2017-19

at

INDIAN INSTITUTE OF MANAGEMENT VISAKHAPATNAM

12th August 2018

Submitted by-

Group 9

Anandmoy Roy (1710008)

Avinab Das (1710010)
K M S V V S Pavan Kumar (1710028)
Sumit Saurav (171005)
Unnmalini Boruah (1710060)

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Contents
TEXTILE INDUSTRY: ........................................................................................................................................ 3
Porter’s Five Forces Analysis of the Textile Industry ................................................................................. 3
Arvind Limited ................................................................................................................................................ 4
Denim Industry .............................................................................................................................................. 4
Market Size and Growth: ........................................................................................................................... 4
Segmentation:............................................................................................................................................ 4
City-wise Distribution of Denim Markets: ................................................................................................. 5
Arvind Denims ................................................................................................................................................ 5
Value offering in Denim: ............................................................................................................................ 6
SWOT analysis for Arvind Denims: ............................................................................................................ 6
Competitive Analysis: ................................................................................................................................ 6
Challenges faced by Arvind Denims: ......................................................................................................... 7
Value Chain Analysis of Textile & Garment Industry ..................................................................................... 7
Opportunities for Value Creation in Textile esp. Denim .............................................................................10
TENCEL .....................................................................................................................................................11
Features of TENCEL ..................................................................................................................................11
Application of Concept and Frameworks ....................................................................................................12
Blending Tencel to beat the Commodity Magnet ...................................................................................12
Road ahead for Arvind Denims: ...................................................................................................................13
References: ..................................................................................................................................................14

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TEXTILE INDUSTRY:
The textile industry is concerned with the design, production, and distribution of cloth, yarn, and clothes
using natural or synthetic fibers as raw material, which are products of the chemical industry. The woven
fabric portion of the industry has come from the industrial revolution of the 18th century as mass production
of cloth and yarn became a mainstream industry. The industry process mainly consists of manufacturing
cotton, synthetic fibers and processing natural fibers. The textile industry has majorly changed with
continuing technological innovations in machinery, logistics, synthetic fiber, and globalization of the
business. The business model has radically changed with the centuries. Many artificial (synthetic) fibers
have come up as substitutes from the chemical industry and are used for products ranging from toothbrushes
to military parachutes and women’s stockings. India is the second major producer of fiber in the world and
cotton is 60% of it. The textile industry in India has continued to be the second largest sector in generating
employment for both skilled and unskilled labor. India is first in global jute production and has a share of
63% in the global textile and garment market.

Porter’s Five Forces Analysis of the Textile Industry

Competitive Rivalry:

• A huge number of competitors

• Competitors eyeing aggressive growth strategies as well as eyeing top cities
• Competition from small-town stores and specialty stores
The threat of New Entrants:

• A lucrative market for international brands

• Low entry barrier in the unorganized retail sector
Threat of substitutes:

• Plenty of offerings in super premium and premium category

• Small town stores based on proximity, home delivery and personal attention
• Growth in online shopping
Bargaining power of suppliers:

• Increased number of players increases bargaining power of suppliers

• It is difficult to find companies which have complete integration like Arvind
Bargaining power of customers:

• Low switching costs

• Low customer loyalty

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Arvind Limited
Arvind Ltd. started in the year 1931 with a share capital of Rs 2525000. The vision of the company was to
produce high-end superfine fabrics and as has invested in very sophisticated technology. The corporate
philosophy of Arvind is known as the Reno Vision. It means a new way of looking at issues, and of seeing
more than the obvious. Arvind launched the Arvind Store in 2010 which amalgamated the company’s best
brands, fabrics, bespoke styling and tailoring solutions under one roof. Arvind is involved in the business
of Denim fabric, woven/knitting fabric, garment, Arvind store, mega mart, agriculture, engineering and real
estate.

Denim Industry
As globalization occurred, westernized denim was introduced in the Indian market by Arvind mills in the
early 1980s and garnered the title of “Pioneers of the denim revolution in India”. With the advancing
popularity of the denim product “jeans”, it became one of the fastest growing apparel fabric segments. In
1995, Arvind mills launched the first branded Indian jeans soon followed by MNCs like Lee and Levi
Strauss. Since economic reforms in India, middle class has been empowered and there is a boost in the
living standard of this population. Thus, providing growth opportunity for the Indian apparel industry. The
Indian denim industry is showing continual growth trend over the years. This can be attributed to the
penetration of western fashion and lifestyle in the form of casualization of clothes. With advancing
technologies, newer territories and trends, the market is only going to see more exciting moments ahead.

Market Size and Growth: Market size of the Indian Denim wear was estimated to be Rs 20,205 crore
in 2016. The market is now projected to grow at a CAGR of 14.5 per cent and reach Rs 39,651 crore by
2021, and Rs 77,999 crore market by 2026. i

Segmentation: The Denim market in India can be broadly categorized based on product, segment,
consumer type and distribution channel.

1. Product: Jeans is the leading denim product in India. Blue jeans have become a wardrobe staple
and a fashion essential for all people. Other popular denim products are denim shirts, casual skirts
and dresses.
2. Segment: The global and domestic demand for denim is increasing, but a pyramid structure exists.
There is a mass market for commoditized denim which accounts for major revenue and it forms the
base of the pyramid. The middle part of the pyramid is the market for fashion denim. And the tip
of the pyramid is the market for functionality and performance denim.
3. Consumer type: Denim market in India is skewed towards men’s segment which accounts for 84%
of the market and is expected to grow at a CAGR of 14 percent over the next decade. With the
growing affinity towards global fashion, denim is considered as the most versatile fabric for men
wear. The women and kids’ segment comprise of 10 and 6 percent respectively in the denim market.
4. Distribution Channel: The different distribution channels of the denim market are Specialty stores,
Hypermarkets and Supermarkets.

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 City-wise Distribution of Denim Markets: The value share of denim markets in mega metros
and metros is 49% of the total Indian denim market. Other urban and rural area together contributes
51% of the market value share. ii

Arvind Denims
Pioneers of the denim revolution in India- Arvind mill consider denim as one of their heritage offerings.
The company focuses on design, innovation, sustainability and customer centricity as the four key pillars
for their offering of denim.

Arvind mills entered the denim export market in 1987-88 for casual and fashion wear. By 1991, it was
producing over 100 million meters of Denim per year and became the third largest producer of Denim in
the world. Along with Denim fabric, Arvind also produces 6 million pairs of denim product-jeans per year.
Today Arvind mills proudly claims that “every roll of denim going anywhere in the world has Arvind and
India stamped on it”. The company sells denim to clients in 70 countries. It churns out denim for Lee
Apparel Co., Levi Strauss & Co., retail giants like Marks & Spencer PLC, J.C. Penny Co. and Gap Inc. etc.
Arvind mills introduced the style of denim dressing in India when the domestic market demanded products
associated with the west. The company now sells four owned brands- Flying Machine, Excalibur, New Port
and Ruf & Tuf priced between $7 and $30 per pair. Its bestselling brand Ruf & Tuf caters to the rural India. iii
In the 2018, Arvind Festive annual event, the company along with INVISTA, integrated producers of fibers
launched its latest Denim collection named Gravity. Denim business accounts for around 65 percent of
Arvind’s sales. iv

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Value offering in Denim: The company has a Denim lab which is a unique facility of its kind in Asia.
This lab enables the brand design teams to leverage all of Arvind’s infrastructure and capabilities at one
place and co-create the signature products. Due to Arvind’s partnership with the Denim city, Amsterdam
they can further provide their customer access to the cutting-edge developments in the world of Denim.
Arvind Denims is fully committed to innovation and sustainability and takes pride on their cutting-edge
technologies such as Neo, wash techniques that reduces water consumption, and use of sustainable fibers.
It also recently introduced Ikat denim which is a new indigo dyeing technology and is sustainable compared
to traditional dyeing techniques. Arvind’s propriety innovative products such as Azurite, and brands like
BOOMERANG™ that enjoys consumer level co-branding reflects the denim business’ strength. Arvind
Denims play on the mid-premium segment of the market focusing equally on fashion and performance
aesthetics.

SWOT analysis for Arvind Denims:

Strength:

• Strong portfolio of owned denim brands and licensed international denim brands
• Very strong presence and penetration in the rural denim market
• Continuous leverage of the highest technology to achieve a global reputation
• Good distribution channels and networks

Weakness:

• Not enough portfolio of denim garments and accessories

Opportunities:

• Increasing Global demand of Denim fabric

• Demand of denims in upholstery and home furnishings
• Mix of denim with other fibres for production of varying garments

Threat:

• Increase in the price of raw materials

• Introduction of new government policies and tax structures like GST
• Rise in domestic as well as global competition
• Slow transition of denim fabric into commoditized product

Competitive Analysis:
Competitor’s Opportunity: Denim textile segment has always been one of the leading segments in Indian
textile industry and is growing in the range of 10-15% percent compared to the low single digit growth of
the global denim industry. Thus, making the Indian denim market very lucrative for international brands.
Moreover, entry to barrier and regulations to do business is low.

Competitor’s Detection: Arvind denims face strong direct competition from organized sectors like Aarvee
Denims & Exports Ltd, Soma Textiles, KG fabrics etc. The company also faces stiff competition from the

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unorganized denim fabric sectors. Indirect competitors for Arvind’s denim market are other fabric that can
be substituted for denim.

Competitor’s value proposition: Due to high competition and demand for best quality and sustainable
denim fabric, new innovations products are launched by Arvind’s competitors too. For instance, owing to
the recent demand of stretch jeans by consumers, KG Denims is innovating to offer stretch products without
compromising qualities.

Challenges faced by Arvind Denims: From the export point of view, Arvind faces strong
competition from Pakistan and Bangladesh and is suffering due to many non-tariff barriers. In the domestic
market, there is a case of oversupply. As against the installed capacity of 1.4 billion, demand for denim
fabric is close to 700-800 million meters. v This is pulling down the pricing capabilities causing the overall
margins to come under tremendous pressure as the cost of raw materials are increasing. Burden of additional
taxes and curtail duties on raw materials, introduction of GST, reduction of MRP on readymade garment
brands due to FDI imposed by Indian governments for single foreign outlets and multi-brand outlets are
other challenges faced by Arvind Denims.

Value Chain Analysis of Textile & Garment Industry

This is one of the industries that have a very long value chain. Over the years the industry (in India) has
morphed from the provider of limited varieties of clothes/ garments to a more complex form where it
offers a wide range of clothes/garments. This ever-changing characteristics of the textile and garment
industry have made the value chain of the industry more complex. The figure shown below depicts the
crucial players of the value chain of the industry that have a bearing on the value chain; we will discuss.

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Apart of these players, there are indirect players also those in the second part of our value chain analysis.

* Source: http://textilelearner.blogspot.com/2015/08/value-chain-in-textile-industry.html

The below diagram shows the value chain of the textile and garment sector separately and how they
interact.

*Source WTO Report

Now that we know about various players in the value chain of the textile and garment industry let us start
analyzing one by one. The motto of the analysis is to assess the criticality of that particular actor in the
value chain as a value creator.

1) Input Suppliers: These players provide raw materials for spinning/ginning. There are two types of
sources of raw material one is natural sources like cotton, silk, yarn, etc., and others are artificial sources
like the polymer fibers that we get from petrochemical industry. This player are highly critical for the
industry and generally consists of small, medium and large farmers for natural sources and petrochemical
companies for the artificial sources of raw materials.

2) Spinning and Ginning: This set player includes Industrial cotton ginning/spinning plants, small-scale
cotton ginning/spinning plants, etc. They convert the raw materials sourced from the farmers or
petrochemical companies into yarns and then sell the same both to the weaving or knitting companies or
to distributors who in turn sell them to the weavers.

3) Weaving and Knitting: These players either weave or knit the yarn sourced from various
spinning/ginning players. This part of the value chain use to be highly informal in India, but over the
years with the advent of many large weaving/knitting workshops, the degree of formality of this part has
increased.

Many weavers expressed their interest in developing horizontal linkages to increase their capacity to
respond to larger orders and to buy yarn in bulk to reduce costs, but it is uncertain if there is sufficient
demand for such contracts and if workshops can maintain consistent quality standards. Weaving studios
sell their fabric to others for incorporation into leather trimmed products or finished home accessories or
finish product collections themselves for on-site retail shops and buyers.

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4) Dyeing and Finishing: These set of players are also known as textile treatment actors, and their treat
includes dyeing and finishing. SME companies are involved in treating predominantly imported fabrics,
including such practices as dyeing and hand calendering basin/jacquard textiles for local formal apparel
such as resist dyeing (tie-up and batik) or embroidering cloth for fashion and home accessories, crochet,
and screen-printing for domestic consumption and high-fashion. These businesses many times sell their
material to tailors, while fashion studios often maintain internal dyeing processes or subcontract for
custom orders.

5) Textile Manufacturing: Manufacturing includes various actors and activities, including formal and
informal players, MSME, large corporates, independent designers, cooperatives, and nonprofit
organizations. This part of the value chain comprises the processes of adding value to or transforming
unconverted fabric (e.g., dyed or woven cloth) finished/converted textile products (apparel, fashion
accessories, upholstered furniture, etc.) to final end-users. While some actors hold distinct positions along
the value chain (such as informal weavers, small dyeing units used as subcontractors), many operations
often driven by design have incorporated embedded services into their internal processes, covering
multiple functions in the value chain ‘under one roof.’ For example, fashion designers who integrate
weaving, printing, and pattern-making under one roof for prêt-a-porter apparel and interior designer-
weavers who have established vertically-integrated production that provides custom-made dyeing yarn,
furniture framing for upholstered goods market, all the way to direct retail sales, as part of their
businesses model. Many of these businesses are headed and operated by women who have established
national and international reputations for their work.

6) Branding and Product Designing: Brands and designers working in high fashion, home décor, and
fashion accessories, play a crucial role in textile and garment sector, linking market demands to
production and international design sensibilities. Most designers manage their boutiques and maintain
proprietary workshops with in-house production capacity in weaving and other material treatment
processes (tailoring, dyeing, embroidery, etc.) with established agreements for specific outsourcing needs.
They are heavily engaged in the promotion of Indian design and the development of their industries, and
have created several unique venues such as fashion reviews and participated in international exhibitions.

Apart from players mentioned above, there are other players also who affect the value chain of the
industry albeit not in a direct way but in an indirect way.

1) Government: Whole textile industry is more like a half government industry. The government policy
on textile industry provides large employment and also earn foreign income to the country. The industry
is not very happy with the policy because other things like education, resources, R&D are not focussed in
this sector when compared to the others.

2) Educational iInstitution: The skilled labour required in the industry come from the educational
institutions. So the courses taught at the institutions should have updated content matching the
requirement in the industry. Students should have enough exposure, soft skills, and technical knowledge
before they get employed into the industry.

3) Associations/Cooperatives/NGOs: Textile activities are often imlemented and supported in

collaboration with NGOs in efforts to improve economic conditions and employment opportunities in our
country.

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There are also few Macro economic factors influencing the Textile Industry,

1)Energy: All the segments of value chain in the industry are majorly effected with shortage of energy
and powercuts. These result in a dramatical increase in their costs. Nearly 20% of the costs is accounted
from the energy used in the industry. Alternate resources like solar etc. cannot serve this large scale
industry.

2) Infrastructure and resources: Transports, internet and other infrastructure facilities have impact the
growth of the textile subsector. Packing and packing materials, labels and broad selection of quality
notions result in higher costs and result in compromise of quality of final products delvered to the buyers.

Opportunities for Value Creation in Textile esp. Denim

Past are the days when quality product was the sole criterion to bye a product by a consumer. In the early
times, sheer competitiveness in the domestic market was very restricted.

But, through some past years with the advent of globalization, competitive atmosphere and quality
consciousness, has touched a new mark. With the sturdy improvement in technology and application
standards, a steady rise was observed in consumer demands. And to reach that mark, manufacturers have
to add something to their products to obtain some added value for their product. A product must be able to
incorporate something more with it and consequently this has taken today’s market to a stage where it seems
very tough for a manufacturer to market his product until he satisfies the consumer with something new
which not only rewards him for his innovative concept but also lures him with substantial increase in profit
. This desire to come up with something fresh to earn bigger profit, have higher market share, satisfy the
trend could probably be termed as value addition to textiles.

In a succinct way we can define Value Addition as the process where we augment the salability of the
product by adding some features/incentives to it. The key aspect of value addition is higher price,
uniqueness, attractiveness, and focusing a business more closely on its targeted market segments.

India has already placed itself strongly in international market in terms of conventional yarns and now time
has come to appreciate the importance of value addition in textile yarns. Countless numbers of different
yarns are developed in international markets depending upon its properties, end-usage, different textures,
different finishes and different looks. Global trends show a shift from occasion specific clothing to function
based clothing where fabric properties have started playing a major role. Some of the latest trends like
temperature control and IT embedded technical garments will be gaining more importance in coming future.
Increasing consciousness on climatic changes, global warming, eco-friendly concept and enormous
industrial growth will be leading to more focus on function-based clothing than need specific clothing.
These clothing are manufactured from yarns having inherent functional properties or imparting specific
properties to the conventional yarns by applying different finishes depending upon their end-use. Likewise,
consumption of specialty yarns has ramped up in ethnic wear. Technological progress plays important role
in the growth of specialized yarns which differ according to their specific properties and end-usage.
Different categories of specialized yarns available in market like Modal, Tencel™, Coolmax, Kermel ®,
Cuproammonium Rayon, Recron®, ThermoCool, Acrylic, Aramid, Bamboo, Linen, and many more.

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Arvind too has decided not to fall behind in these times of value addition and has begun to experiment with
the blend of Tencel to enhance the versatility of their finished products. The blending of Tencel with the
fabric provides a huge scope of value addition. Arvind needs to advertise the features of Tencel and in
return capitalize on this Tencel mix by charging a premium on the blended products.

We have conducted some research on the Tencel to find out its positive influences on the performance of
fabrics. These positive characteristics if showcased by Arvind in its value proposition would attract the
customer and increase its demand and allow Arvind to charge a higher price.

TENCEL
Regenerated cellulose fibers today are increasingly being used in apparel manufacture driven by the
constant improvement of their intrinsic qualities and introduction of new brand. The natural as well as the
regenerated cellulose fibers preserve their reputation, where it provides apparels with the finest softness,
strength and great appearance. Cellulose fibers are counted in the group of high comfort fibres. One of the
latest developments in this new regenerated cellulosic fiber technology is TENCEL.

The versatility of this fibre produces outstanding fabrics for both women’s and men’s casual and tailored
wear, as well as women lingerie. Additionally, the reason for its current emergence on the market is that
Tencel fibre has the benefit of being used in a lesser contaminant spinning process when compared with
conventional viscose.

The Tencel fiber has a circular cross-section and a smooth surface because of its spinning process, where
the cellulosic fibers experience quick and high penetration of solvent which leads to constant coagulation.
The special spinning method of Tencel from conventional viscose fibre causes the formation of very long
exclusive crystal arrangement of its cellulose unit which are extremely oriented in the longitudinal axis of
the fiber. These factors cause noteworthy differences in fiber properties.

Features of TENCEL
Environmentally Sound and Sustainable Production Process

Tencel is manufactured from wood pulp by means of a solvent spinning process. More than 99% of the
solvent is recycled in the process, making the fiber making truly environmentally responsible. The standard
fiber formed is 1.4 dtex, 38 mm, but Tencel can be produced in an assortment of linear densities and staple
lengths. The fiber has a smooth surface and a round cross-section, giving it a high lustre in the raw state.
Consumers can have the guarantee that their fashion choices are not contributing to an adverse effect on
the environment.

Strength

The fibers in Tencel are characterized by their high strength in equally dry and wet states. Standard Tencel
fibers, in contrast with other cellulose fibers like viscose, have a higher breaking strength, either wet or dry.
In the wet state, Tencel retains 85% of its dry strength and is the lone man-made cellulosic fiber which is
stronger than cotton in the wet state. Also, vast differences exist between Tencel and cotton in both vapor
permeability and thermal transmission.

Enhanced Breathability

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Made of natural material, the microscopic fibrils of Tencel fibers are organized to regulate the absorption
and the release of moisture. This contributes to breathable fabrics that takes care of the body’s natural
temperature regulating properties, generating a refreshingly cooling sensation on human skin.

Long Lasting Softness

Due to the fiber’s sleek cross-section, Tencel fibres increase the soft touch of fabrics even after repetitive
washing. Tencel fibres absorb moisture and have a high modulus that results in small shrinkage in water. It
also absorbs water perfectly and provides hygienic properties to textile products.

Measurements and hand assessments of softness has shown that Tencel fibers are twice as soft as cotton.
The softness of Tencel fibers lasts lengthier and is able to endure repeated wash and dry cycles equated to
cotton.

Color Retention and Lustre

Additionally, fabrics in Tencel are characterized by their silky handle, distinctive drape and fluidity. Color
pigments are deeply entrenched into Tencel Modal fibers, which help retain long-lasting color vitality more
than conventionally dyed fibers, and are less susceptible to fade even after frequent washing.

Tencel is an excellent alternative to cotton and is sure to plays a significant position in the textile market
for towels, fashion wear, bed linen, etc. Tencel can be effectively used in the manufacture of underwear
and apparels. They can also be used in denims, knitwears, technical textiles, foils, and nonwovens. Tencel
fibers show huge benefits in adjusting to the requirements of the end product equally when spun alone and
in different blends predominantly with cotton. The add-ons of Tencel to cotton have also a positive
influence on yarn mechanical properties particularly tenacity and elongation, and on spinning stability.

Application of Concept and Frameworks

Blending Tencel to beat the Commodity Magnet
Regular Denim products today in India is slowly moving towards attaining the commodity status. Arvind
managers should pick up the early warnings taking place today in the denim market such as increased
competition, availability of similar products and pressure on prices. Hence, to avoid denim being perceived
as a commodity product and price becoming the buying criterion, Arvind should be able to introduce an
augmented product.

To get out of the commodity magnet pull, every firm has three paths which it can tread upon. First is the
Market Focus. Market Focus essentially involves an increase in prices more than the accompanying
improvements in service. The firms basically begins to focus on customers who would pay the additional
price for augmented product since they value them. Second is the Value Focus. In a value-added strategy,
the firm provides an augmented product and increases its price by a commensurate value. Effective
differentiators are brought in as a part of the strategy which the buyer would value. The third strategy is the
Process Focus. The core idea of this strategy is to offer customers products at lower prices for the few
features that are stripped away. Efforts are also made to reduce the manufacturing costs without affecting
the performance of the product.

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Clearly as evident from the exhibit below, the strategy of Value Focus would be the most advantageous for
Arvind and would likely lead to the highest profits.

Source: https://cioinnervoice.wordpress.com/2011/03/07/cios-learn-to-fight-the-commodity-magnet/

Arvind can thus build a value proposition based on features of Tencel and then proceed to make a value
model so as to effectively price its Tencel blend products.

Road ahead for Arvind Denims:

Importance of Domestic Retail market: Arvind group has realized the evolving vital role played by the
domestic retail group for Indian denim manufacturer. This market can be divided into two categories. First
is the one with product mix for feeding to commodity mass that includes domestic brands serviced through
distributors. The other is the high-quality labels serviced mainly directly by the mills. There has been an
expansion in the organized retail due to the advent of international brands coming to India. With Tier-II
and Tier-III cities becoming more denim fashion conscious, there is a huge market to cater and thus,
building good domestic retail relationship has become extremely important.

Innovations and Technology: The Indian denim market has become proactive and demands fancy varieties
at competitive prices. To meet the needs and preferences of this market, Arvind denims must continuously
innovate. Value can be added by making denim fabric by different techniques. Laser printing, special
finishes like coatings, brushing, peaching etc. are some of the latest innovations in denim industry. To cater
to the fashion-oriented market, focus should also be given on value additions such as finishes, hand feels
etc. Arvind’s woven knits- MUTANTS™ was a successful product because of its high stretch ability
features. The company needs to come up with more such innovative differentiated products to stay ahead

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in the race. The denim market has a huge demand for niche products like light-weight denims, coated and
mercerized denims with multiple wash effects and clean optics and Arvind must leverage technologies to
supply this premium segment of the market. There has also been recent increase in cost of production due
to rise of cotton price, dyes and chemicals and change in government policies. Arvind Denims can overcome
this upward cost movement in manufacturing only with advanced usage of technologies and improved
processes.

References:

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i https://www.indiaretailing.com/2017/09/11/fashion/indian-denim-wear-market-2017-2027/

ii http://www.technopak.com/Files/denim-market-in-india.pdf

https://www.nytimes.com/1997/11/20/business/worldbusiness/arvind-sates-global-and-local-hunger-for-jeans-
iii

an.html

https://www.firstpost.com/business/leveraging-technologies-to-create-fabrics-denim-says-arvinds-ceo-akhtar-
iv

4411917.html

v https://www.pressreader.com/india/business-of-fashion/20170725/283716954457288

Influence of Tencel/cotton blends on knitted fabric Performance: Alaa Arafa Badr,Ahmed Hassanin, Mahmood
Moursey

http://www.indiantextilejournal.com/articles/FAdetails.asp?id=6063

http://www.fibre2fashion.com/industry-article/1830/value-addition-to-textiles?page=1

https://tencel.com/denim

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