Denim, not discounts: Why Ace Turtle is moving up the value chain

Subscribe to enjoy similar stories.Ace Turtle, the company behind denim brands Lee, Wrangler and G-Star Raw, is stepping away from India’s crowded value denim segment, sharpening its focus on premium brands as it looks to rebuild margins and define a clearer market position.Its chief executive, Nitin Chhabra, told Mint that the shift has meant it now has a tighter strategy centred on fashion, sourcing and distribution.“We are on track to achieve Ebitda positivity in the September quarter. For the full fiscal year, we are targeting a strong growth trajectory, with revenues expected to rise by approximately 25% compared to the previous year,” he said.

Ebitda is short for earnings before interest, taxes, depreciation and amotrization.The company, which competes with Levi's, Spykar, Killer, Mufti, Numero Uno and Indian Terrain, is repositioning itself in the mid- to high-premium segment, staying away from value pricing, he added.While Lee and Wrangler continue to anchor revenues, G-Star Raw is being built as the next layer of premiumization, creating a defined upgrade path for consumers. Chhabra said it is the demand momentum, particularly outside metros, that is driving the turnaround.

Ace Turtle introduced G-Star Raw in 2025 after its earlier licensing arrangement with Reliance Brands Ltd ended.Instead of a rapid rollout of standalone stores, the company, he said, has scaled through shop-in-shops, largely within Shoppers Stop's multi-brand retail stores, beginning with about 25 outlets and expanding gradually. Two exclusive stores are also planned in 2026.Positioned above its two other brands, the bridge-to-luxury G-Star is expected to take on a larger role in the portfolio.