In India Century Textiles will venture into Arvind's territory.
From India's Daily News & Analysis:
Century Textiles and Industries Ltd (CTIL) will launch a new denim brand in the next two months. At present, this segment is dominated by Arvind group.
The Rs 2,500-crore B K Birla group firm is foraying into denim business at a time when major denim players are re-orienting their strategies to overcome softening prices and excess of production.
Century Textiles, known for high-quality cotton yarn and fabrics, entered into the men's apparel segment in late 2004.
The denim space in the country is now ruled by brands like Lee, Wrangler, Newport and Flying Machine. Subrata Siddhanta, business head, Cottons by Century, told DNA Money: "The export denim market is little shaky but domestic market is growing at the rate of 15% year-on-year. We will launch our denim brand around April 2007 if everything goes according to plans."
The company will open brand outlets for denim in Mumbai, Delhi, Kolkata and Bangalore initially and later move to other cites. The apparel division of Century currently has 40 brand outlets. The division achieved a turnover of Rs 25 crore during 2005-06.
Analysts said that companies like Raymond, Arvind Mills, KG Denim are exploring options to boost denim sales. Foraying into denim segment and cornering some market share is big challenge for Century in the midst of existing big players.
Century Textiles was marketing menswear under two brands, Cotton by Century for pure cotton ranges and Century by Century for non-cotton ranges.
DNA India Article