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Global Denim Jeans Market to Reach US$76.1 Billion by the Year 2026

New York, Jan. 19, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Denim Jeans Industry"

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The growing interest towards a casual look is fueling the sales in the market. Rising number of women joining workforce, rapid rates of urbanization, westernization of lifestyles in emerging economies, and rising fashion consciousness are factors propelling growth in the global market for denim jeans. Recent popularity of colored denims and launch of newer styles expanded the range of products that are available under this category. Additionally, jeans are also being considered ideal for various special occasions, apart from casual wear, including formal attire as work wear. All these factors are together buoying growth and also generating renewed interest in the category. Growing penetration of casual wear in the workplace, coupled with rising employment of the young generation have been auguring well for the global denim apparels market. The market is further propelled by the growth in the premium denim jeans segment. Aggressive promotions of innovatively styled denim garments are further driving growth in the jeans segment.

Amid the COVID-19 crisis, the global market for Denim Jeans estimated at US$57.3 Billion in the year 2020, is projected to reach a revised size of US$76.1 Billion by 2026, growing at a CAGR of 4.8% over the analysis period. Offline, one of the segments analyzed in the report, is projected to grow at a 3.7% CAGR to reach US$60.8 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Online segment is readjusted to a revised 9.2% CAGR for the next 7-year period. This segment currently accounts for a 17.7% share of the global Denim Jeans market. The popularity of online sales channels is driven by a growing number of consumers using the Internet to browse various websites and indulge in web based shopping. In addition, ability of online stores to offer less expensive products in comparison to physical formats of these stores, along with eliminating the requirement of dealing with queues and crowds is driving consumers towards online retail purchases. Offering a wide array of brands, speciality stores attract customers employing strategic marketing initiatives as well as merchandising.

The U.S. Market is Estimated at $15.1 Billion in 2021, While China is Forecast to Reach $15.5 Billion by 2026

The Denim Jeans market in the U.S. is estimated at US$15.1 Billion in the year 2021. The country currently accounts for a 24.6% share in the global market. China, the world`s second largest economy, is forecast to reach an estimated market size of US$15.5 Billion in the year 2026 trailing a CAGR of 7.2% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2.6% and 4% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 3% CAGR while Rest of European market (as defined in the study) will reach US$4.6 Billion by the end of the analysis period. The US represents the biggest consumer of denim jeans worldwide and has the largest per capita consumer of jeans in the world. Increasing disposable income levels, higher fashion consciousness, and the shift towards casual dressing in the workplace are some of the major factors driving demand for denim jeans in these regions. A major portion of future growth in the denim jeans market is likely to emanate from developing nations such as China, India, South Korea, Brazil, Mexico, Turkey, the UAE and Saudi Arabia, among others. Factors such as influence of westernization and urbanization, increase in the number of women joining workforce and rising fashion consciousness among consumers are expected to propel growth in the global denim jeans market.

 

American Eagle Outfitters aims for $5.8 billion revenue in 2023

21
Jan '22

Pic: American Eagle Outfitters

Pic: American Eagle Outfitters

American Eagle Outfitters (AEO), United States-based specialty retailer offering on-trend clothing, is aiming for a revenue of approximately $5.8 billion and operating income of $800 million for fiscal 2023, with the operating margin expanding to 13.5 per cent. These targets exclude potential asset impairment and restructuring charges.

The company is on track to surpass its fiscal 2023 operating income and margin goals two years ahead of schedule. Building on this momentum, AEO is raising its 2023 financial targets. The plan will continue to focus on pursuing growth opportunities for Aerie’s powerful brand platform through innovation, expanding deeper into key markets and growing its customer base. Having successfully driven significant and structural improvement in profitability at American Eagle, the brand will now pursue a dual agenda of modest growth and maintaining healthy profit flow-through, AEO said in a press release.

Fueled by strong demand and positive pricing, AEO expects record fourth quarter revenue with growth in the mid-to-high teens compared to fourth quarter 2020, and up in the mid-teens from the fourth quarter of 2019. Operating income is expected to be in the range of $90 to $100 million including approximately $80 million in higher freight costs, due to supply chain disruptions as discussed in November. The fourth quarter profit outlook reflects significant progress and meaningful growth compared to the fourth quarter of 2019.

“I am extremely proud of the team’s outstanding execution throughout the past year, which has instilled real structural improvements within our company. Inventory and real-estate optimization combined with strong demand fueled by product improvements have reignited profitability at the American Eagle brand. Aerie cemented another year of industry-leading growth and achieved a substantial inflection in profitability as its powerful brand platform continued to scale. Operational excellence drove solid results amidst external disruptions,” said Jay Schottenstein, AEO’s executive chairman of the board and chief executive officer.

“We closed out a milestone year for our supply chain, anchored by two key acquisitions, which secured cost efficiencies, locked in key strategic advantages and created a new platform for future growth. As I look forward, I see tremendous growth potential and opportunities across the organisation. I am excited to see us build on our successes as we strive to reach greater heights and create lasting value for our shareholders,” explained Schottenstein.

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