The textile major Arvind Group has announced a tie-up with US-based Invista, the owner of the lycra fibre brand, to manufacture stretch denim fabric in India.
“Arvind is the largest supplier of denim in India and we are happy to have such a partnership,” Paolo Briatore, director, apparel, at Invista India said. “India is one of the fastest growing markets for denim, with more and more women adopting denim in the country apart from men.”
As part of this collaboration, Arvind will ensure that all of its denim fabrics are provided with an Arvind-Lycra co-branded hangtag, communicating the benefits to the end consumer.
Invista’s Briatore said the company expects to sell an additional 10 per cent lycra after this deal. At present, half of Invista’s turnover comes from denim, while a quarter from intimate wear.
Arvind holds 12-14 per cent of the denim market in India with sales of 450 million meters per month. The company is targeting 20-30 per cent growth by the end of the year.
