The versatility of jeans prevented from a stronger decline in current retail value sales in 2020. In fact, the work from home practices adopted in Malaysia in combination with the growing athleisure trend offset to decline in demand for jeans.
In 2020, super premium jeans and economy jeans were significantly impacted by the restrictions and economic fallout from the COVID-19 pandemic. For example, super premium jeans, which often include luxury brands such as DKNY Jeans, Burberry, Calvin Klein, Armani and Versace, were especially negatively impacted by the absence of international tourists.
Jeans manufacturers that incorporated localisation into the designs of their jeans collections, especially in terms of materials, held a competitive advantage in 2020. For example, following the successful launch of Levi’s Performance Cool jeans made from breathable denim pre-pandemic, Levi’s launched a men’s and women’s jeans range, Flex Eco Performance, in 2020.
Jeans is set to return to strong double-digit growth in 2021 and 2022, before slightly slowing but still sustaining moderate levels of current retail value growth throughout the remainder of the forecast period. On one hand, standard jeans will have a competitive advantage in the forecast period in terms of price.
In the forecast period, players are set to jumpstart their recovery by focusing more on comfortability and casual design. Since companies in Malaysia have been focused on taking care of their employees’ wellbeing during the pandemic, work from home practices could be extended throughout 2021 as an extra layer of safety to the ongoing pandemic.
Players will continue engaging with e-commerce retail channels as promotional tool in the forecast period. An increasing number of players is expected to expand through online sales platforms, such as Levi’s selling its jeans through various third party online websites such as Zalora, Lazada, Shopee and 11th Street.
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Understand the latest market trends and future growth opportunities for the Jeans industry in Malaysia with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
If you're in the Jeans industry in Malaysia, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
This report originates from Passport, our Jeans research and analysis database.
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