Luxury products are likely towither and undergo changes during the course of time. Some products pass therecessionary times better than others. As far as lingerie is concerned, Italiansunderstand the products much better than anybody else. Currently, lingerie is apart of Italian tradition, and is a big business. In ancient times, merchantsof Venice traded in silk, and encouraged people engaged in silk cultivation tosettle in Italy. Italian silk was so popular in Europe, that Francis I, from France invited the Italian fabric makers to France to establish a silk industry.
Lingerie industry in Italy is comprised of thousands of small family type units supplying products to specialtyshops. This family based model of capitalism has trouble to cope with themodern world of 'globalization' in which manufacturing processes are shifted toplaces where wages are much lesser than in Italy. Yet, Italians are famous fortheir romantic, classic, and sexy lingerie designs with a meticulous attentionto quality. The Western Europe market for women's wear is estimated to be$11.27 billion USD. Germany has the largest lingerie market, followed by Italy, France, and Spain. The market value of Italian lingerie industry is worth $3 billion USD. Duringthe past few years, purchase of intimate wears by Italian women rose by 13%,and a similar inclination is expected by industry key players till 2012. Thishas caused a flurry of mergers and acquisitions in the intimate apparel market.
Italian market is extremely sophisticatedand the customers are more quality and name conscious. They purchase productsthat are manufactured with both natural and technical fibres and are also inline with the latest fads. Domestic manufacturers are mainly based in thenorthern part of Italy, and are manipulated by a handful of largeconglomerates. SMEs are either purchased by these bigger companies, or manageto sustain themselves in the market if they manufacture specialty products. E-commercemarketing is very new in lingerie sector in Italy, but 40% of customers have;in a survey expressed their desire to favor this new way of shopping.
Italian lingerie brands have stunning styles that are versatile. La Perla is the fifth largest textile group in Italy. Their luxury intimate apparels comprise 50% of the total lingerie's manufactured in Italy. It has an efficient network of 350 specialty shops, and their aggressive advertisements contribute to 15% of their turnover. Despite the fact that their price levels are 25% higher than the other intimate wears sold in the market, La Perla's business is still brisk. Argentovivo has a collection of unique fabric that appears original and decorative. Lace and fabric from Cristina Iaia are considered as the most feminine apparels; worldwide.
Gianfranco Ferr, a renowned Italian designer customized a preshaped, strapless bra which has been imitated by many others. Reputed Italian designers include Giorgio Armani, Guia la Bruna, La Perla, Flora, and Cosabella. Many chain stores like Intimissimi, Tezenis, and Yamamay provide designer intimate wears. There are many other stores that deal only with lingerie's and swim wears. US brands like Playtex, DNKY, Cleven Klein, and Jantzen have a strong hold in the Italian market. In the long run more brands will venture into retail, and this will result in a decline in the number of independent boutiques as they will be unable to stock the vast ranges that brands offer.
Lingerie's have now come out of the closet. This fact is crystal clear in the Italian city of Milan where the window display of lingerie stores are shaped with an audacity that was unthinkable a few years ago. Sensual fabrics with charming cuts, and luxurious embroidery finishes in lingerie are now in fad. Fabrics with elastic laces, pleated polyester, tulle, and micro fibers are used creatively to design the intimate apparels for the fashion savvy women. Even in winter, women wear skimpy tops. So, the one time woolen garment is now refined as a silky camisole or attractive bustier. 'Ritratti', an Italian brand bra; designed with liquid silicone embedded in it, is a popular product among women. Mesh intimate apparels with floral, printed and lacy hot looks, and lingerie's with a little ruffle trims reminiscent to the 'French maid outfit' are in vogue.
Expert opinions state that seamless and one piece intimate apparels will soon swallow one third of the market, with light weight products that have a natural look. The color palette will be traditional and pastel. Growing market for thongs will increase the sales by 25% along with 'push up bras' with air, water, and oil padding. The key trend in the Italian lingerie market is the focus towards using natural fibers, and the fine gauge knitting of companies. The fashion pendulum swings back and forth, thus going back towards the more subtle fashion of the past days; intimate garments with simplicity and comfort. Lacy bras and saucy garter belts would not disappear. They come in renovated forms time and now.
Lingerie is a 'plethora' of brands particularly in Western Europe. In many other countries across the globe much of the intimate wears are sold as anonymous merchandise. To survive in the lingerie market in Italy, a manufacturer needs to decide if he wants to be a designer, a brand or a retailer so as to recognize the strategic core competence of the market.
References:
2) http://www.tangafinelingerie.com
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