NEW DELHI, India — Dutch brand G-Star Raw has signed a license with Genesis Luxury to enter India. The distribution and marketing agreement is expected to see the first store open by the end of this year.
More than 30 stores are expected to open across India in the next five years, according to a spokesperson.
“G-Star is a true pioneer in the denim industry. Their wide expertise, from distinct styles to superior fits, is something yet to be seen in the Indian market,” said Sanjay Kapoor, managing director of Genesis Luxury.
Genesis markets and distributes a number of international luxury brands, including Giorgio Armani, Emporio Armani, Burberry, Paul Smith and Bottega Veneta.
The denim market in India has been growing in the high-double-digits, according to industry estimates. Consulting firm Technopak projects the growth of the denim apparel market to double in the next few years, to reach 215 billion rupees, or $3.5 billion, from 109 billion rupees, or $1.8 billion, in 2013. “The demand for denim is growing among men, especially with the younger generation. The entire denim market of India hinges around the men’s denim segment, which contributes 80 percent to the market,” according to a report by Technopak.
G-Star has more than 6,500 points of sale worldwide.
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