Intimate Industry B2B Blog
The Feminine Intimate Wear market lingers on in its formative years
The Domestic Feminine Intimate Wear has now come a long way, exceptionally-seen as a functional basic necessity in making the next big style statement. Intimate Wear is one of those unique products that fall in the category of both a necessity and a luxury.
Regardless of the advantages that India enjoys in apparel manufacturing, Intimate Wear manufacturing in India is so far so good in infancy
The market size of Women’s Inner Wear across the Country in the year 2020 was approximately 321.64 billion Indian rupees and was estimated to reach 621.35 billion rupees by 2025.
The female innerwear markets in India will nearly double to $11-12 billion by 2026 as incomes rise, more young women join the workforce and people become aware of better brands.
The category comprises lingerie, at leisure (loungewear and active wear) and ancillaries such as shape wear and swimwear. It is among the fastest growing category in apparel, according to the report called “Female innerwear’s USD $12 billion opportunity”.
The online female innerwear market will be around $1-1.2 billion by 2026 a rise of nearly six times from 2020.
The domestic market now has four types of online players. There are offline-focused brands like Amante, Enamor and Triumph. E-commerce players like Flipkart and Amazon have many offerings but may not have a sharp, specific focus on female innerwear. Online fashion marketplaces like Myntra and Ajio, which have an array of fashion-related offerings with multiple categories and brands. Then there are digital-first omni-channel players focused on innerwear, such as Clovia and Zivame.
“There have been clear shifts in consumer behaviour favoring the use of casual or leisure wear. This was further enhanced by the pandemic, as consumers spent time indoors; working from home they opted for more comfortable wear, spent more for better quality and explored online options.
Within branded segments, there are a few “breakout categories” that are likely to witness highest growth to become an over $2.5 billion opportunity by 2026. These are- branded mid-premium lingerie, branded athleisure (includes loungewear and active wear), and branded ancillaries (includes swimwear and shape wear).
Innerwear is evolving into ‘casuals at home’ or ‘at-home smart clothing’. Athleisure and active wear are benefiting from people becoming fitness conscious, joining gyms and taking up activities like cycling.
International brands like Reebok, Nike or Puma, which have in India for more than decades, have invested in awareness about the category. Their brands are widely distributed and alternatively used as casual wear.
The report said the female innerwear market will grow in smaller cities will grow 1.5 times than in metropolises. In these cities, the major growth factors will be digital penetration and brand awareness. It is gaining from social media influence and online shopping.
The ladies garment as well as female garment, ladys garment & kids wear, children wear, boys wear, girls wear, ethnic wear, and last but not the least men’s wear .
The global lingerie market is forecasted to grow at a CAGR of 5.5% during the forecast period (2021-2026).
With most of the retail outlets closed and limited fitting room facilities, the sales of lingeries in physical outlet has been affected drastically during COVID pandemic. But, the demand for more work from home comfort outfit, zero feel products through e-commerce has been demanding during the pandemic period with the sales of non-wired bras and bralettes sales up by approximately 40 % compared to 2019 as stated by online retailer Figleaves.
Moreover, customers are focusing on style quotient and comfort over the pricing of products and manufacturers are increasing their portfolio with wide variety of designs,
sizes, colors, and other customizable options. This is one of the key factors driving the lingerie market.
The key players are embarking on mergers and acquisitions as one of their key strategies to achieve consolidation and optimize their offerings. A few global players have merged with local players to gain dominance in local markets.
The evolving retail industry is marked by the emergence of many stores in hypermarket/supermarket, specialty formats and online lingerie retail. Comfort and convenience are increasingly becoming important to customers because of their hectic lifestyles and work schedules. Large organized retail stores stock various brands and a variety of lingerie wear including bras, briefs, etc., under one roof, providing more options to consumers. These stores also offer other intimate apparel to fulfil the requirements of shoppers. With the increase in preference for branded products among consumers, the importance of organized retailers carrying branded lingerie wear has also increased.
Companies are differentiating their products in terms of offerings, size, material, packaging, and design, in order to gain a competitive advantage. With a large range of notable brands and retailers like Nordstrom and J.C. Penney expanded into larger-size lines, offering the HerRoom and Bare Necessities brands, and HanesBrands stated that 35% of women are plus-size by age 25 and 44% by age 33 in United Stated, thus upped its portfolio range in the plus-size market.
The ladies garment as well as female garment, ladys garment & kids wear, children wear, boys wear, girls wear, ethnic wear, and last but not the least men’s wear .
Companies are also using digital and social media advertisements to make consumers aware of the new product launches in the region. Currently, the United States is leading the way in the global lingerie market which can be attributed to the presence of major players in the regions and an increasing number of initiatives to enhance sales.
The market is a competitive market with the presence of global players such as L Brands Inc., Jockey, and Triumph International and a number of regional players such as Amante and Enamor. The major players are embarking on industry consolidation by entering into agreements or acquiring prominent domestic firms, which has intensified the competitive rivalry. In 2019, Wacoal International Corporation announced the acquisition of Intimates Online, Inc’ brand Lively for USD 85 Million. The company has both online and physical outlets in Chicago and New York with a number of direct-to-consumer lingerie and activewear upstarts, including ThirdLove, AdoreMe, TomboyX and Outdoor Voices.