Lingerie has been in usage since time immemorial. History traces the roots of this apparel back to 3000 BC where ancient statues are discovered seen wearing acrossed band over their shoulders. Once considered to be trivial, perception of this piece of clothing is fast becoming very appealing in recent times. During the 21st century, intimate wear has gained considerable boost with many big, small, domestic, and global brands entering into the segment. This segment is becoming a hot favorite of fashion designers as well; whose creativity gives the small garment a big reputation.


Indian lingerie market is going through a magic transformation to become the next big fashion. From a 780 crore industry in 2003, the segment saw a rapid growth to become 1645 crore within 2008. Over the last four years market has witnessed a CAGR of 15.8%. It grew faster in terms of value, comparatively over volume during 2006-09. Marketsize is estimated to be 7, 897 crore in 2009, and is further predicted by analysts to grow ata ratio of 10% per annum.


India holds enormous potential for lingerie industry,which is attracting big brands from all across the globe. Increasing the size of organized market has resulted in the growth of many independent brands.Growing amount of disposable income of Indians, changing lifestyles, and increasing number of working women have cast a magic spell on these apparels changing it into a fashion garment. The trend is well established in metros,and I tier cities, closely trailed by II and III tier cities.


For the Indian women, times have changed like never before in terms of style, and increasing income level is fuelling this change. An array of alluring intimate wear has entered the Indian market. Product category has a wide product base of offer, while creativeness of the designers and innovative developments serve as its backbone. Bloomers, basque, bustier, camisole, corset, bodice, and many more...


Indian women have a huge assortment of clothing to select from. On the backdrop of big brands entering the market, womens lingerie holds a strong 52% share, whilemens segment constitutes 48%. Though innerwear includes clothing for men,women, and kids, it is the womens segment that draws the maximum attention.


Market Segregation:


Indian lingerie market is classified into super premium, premium, mid-market, and economy segments. 75%of the market is held by the mid market and economy segment. Premium and super premium segments comprise a smaller 25% share, but is promising, fast growing,and is expected to grow by 28% by 2014.



Almost two thirds of the market is controlled by unorganized regional players. Entry of global brands has brought realignment into the fragmented market structure. Bold advertisements, and fashion shows are adopted for promotion.


Entry of Global Brands:
Womens garments reflect the dynamic changes in the society. This statement holds a special significant in case of clothing. The shy Indian woman is now getting bolder demanding intimate wear of her own choice. This change has resulted in international brands making a beeline into the Indian market.

Many leading global brands have, and are turning their focus towards Indian market through joint ventures with local players. French lingerie brand Etam has made its debut in partnership with Pantaloons, and Italian La Perla too, has entered the market. Enamor, with a joint venture with Gokaldas Images, and Jockey, licensed by Page Industries has established their operations in India. Lovable, a brand from Sara Lee, and other brands such as Daisy Dee, and Vanity Fair also have their operations in India.

Market Characteristics:

    Prices of lingerie range from 50-1000 based on the fabrics, embellishments, style etc. Basic styles are sold at lower prices, while fancy styles have a hefty price tag.
    Manufacturers do not offer specific products for different seasons. There are no special product lines according to the age groups as well.
    No special finishing process is used for fabrics such as anti bacterial, and perfume finish etc; as it does not have much demand, and becomes more expensive.
    Though various hues are seen in the market, white plays a dominant role, followed by black and beige shades.
    90% of the manufacturers use cotton particularly in knitted fabrics. Poplin and cambric are used for lining the main fabrics. After cotton, Lycra is frequently used.

Opportunities:

    Perception regarding lingerie has evolved from a marginal garment into an essential wardrobe item.
    Good growth rate of 10% p.a.
    Market is transforming from unorganized to organized sector.
    More awareness being created by media favors the growth of this segment.
    Though this segment is a bit conservative and price sensitive, consumers currently are getting attracted towards other factors such as quality, brand, comfort and style.

Strength:

    Market is large, mostly untapped.
    Growth rate is very promising.
    The market sees an increasing demand. Along with the growth in population, the classes of consumers also grow, with specific preferences which fuel the market.

Challenges:

    There is less brand loyalty in the lingerie market.
    People are more sensitive towards price
    Most of the Indian consumers lack perception regarding quality.
    More and more players are entering the market, making the competition hard-hitting.

Lingerie market is gaining equal importance as an outer garment. Organized sector has a good potential by making inroads into the share of unorganized sector. Currently, market scenario is changing with an increase in consumer confidence. With the retail environment getting more sophisticated providing a pleasing buying experience, possibilities for brands to succeed in the Indian lingerie market is now higher than it was a few years before.

References:


1)     India.retailmantra.com

2)     Techexchange.com

3)      Images Business Fashion, May_2011