Raymond UCO Denim expects continued growth as the denim market in India continues slow-paced expansion. Started in 1996, the company is still producing denim and looking to expand its reach. The company launched a three year “2020 strategy” in which they aim for double digit CAGR in their topline. Arvind Mathur, CEO of Raymond UCO Denim says FY 2016’s fabric capacity expansion project has now stabilised and “turnover of Indian operations is expected to grow at a healthy CAGR” over the next three years.
The current weaving capacity of all company’s factories is over 50 million metres and the main focus is on multi count yarn fashion denims. Fabric manufacturing facilities are located in Maharashtra and Romania and cover yarn spinning, weaving, dyeing, and finishing.
Raymond UCO is now looking to grow certain product categories and penetrate deeper into markets they have a foothold in after expanding its fabric production Using the light asset model, growth is planned through continuation of collaborations with denim brands and pioneering new styles according to customer demand. Mathur stated that the denim market in India is growing at a rate of between ten and 15 per cent.
On future direction of denim in India, Mathur gives top five predictions on denim fabric preference trends for the coming seasons will be primarily driven by comfort and performance. Stretch as a product category will grow. Bi-stretch, soft super stretch, sustainable and performance denims will be in the limelight. The knit look will continue to dominate the domestic market.
