8 January 2020
According to a Technopak report, the Indian lingerie market is growing at 22 per cent per annum and is projected to reach US $ 9 billion in next 4 years. Starting as a necessity, lingerie has now become a style statement, giving the brands an opportunity to play with designs, cuts, colours, styles, etc. How is the market evolving? What is driving this growth? What are the trends picking up in the market? Let’s explore!
Indian lingerie market has moved from the cluttered segment of the industry to become a much-organised sector. “Lingerie market has come a long way from being considered as an apparel sub-category in the earlier days. With the rise in the purchasing power, there has been a subsequent rise in the demand for bralettes, activewear, resortwear and daily intimate wear,” says Akhil Srivastava, Managing Director, PARFAIT India.
“The current US $ 4 billion market is still so nascent that the top 10 brands put together are not even addressing 8 per cent of the overall market. It’s a market with enormous potential, waiting to be tapped. While the apparel market is growing at 8-9 per cent CAGR, lingerie is pegged to grow anywhere between 15-22 per cent annually,” asserts Pankaj Vermani, Founder & CEO, Clovia.
“Traditionally, lingerie shopping was not a pleasant buying experience for women. Conversations around the category used to take place in hushed tones, but there is a lot more dialogue today. Women are no longer shy in expressing their opinions on a category that forms an essential part of their wardrobe,” says Amisha Jain, CEO, Zivame.
“Innovation is at the core of everything we do and have brought in exciting developments and changes to a hitherto basic category. We are continuously engaging with our consumer to understand her changing lifestyle and intimate needs. Taking a cue from her evolving needs, we have developed several products to deliver on our promise of quality, comfort and fit. Each woman is different, and we are looking at delivering products that she can choose from to solve her intimate needs for various outfits, occasions and moods,” avers Amisha.
Retail design and VM are an integral part of success of any stores. Good VM aids in unassisted shopping, which means that the customer can privately browse the category herself. As per Amisha, through Zivame’s retail design and VM, it looks at giving its customers a personalised and exceptional shopping experience.
“Retail design and VM are of utmost significance for every brand in offline retail as they attract the customers to the store. All of Clovia’s retail stores are in high street markets. It’s even more important for us to attract customers who are already in the market, to visit our stores. Hence, an attractive VM and show window play a huge role. Our stores are pretty with inviting colours and are manned by only female staff. We take these efforts to ensure our customers feel welcome and comfortable at the store,” says Pankaj.
India is a favourable market for plus-size lingerie. The brands are increasing their offerings in plus-size category. “Indian market has an immense potential for the plus-size brands as the size inclusivity industry is becoming more global to adhere to the customer needs. The struggle to find right fit and styles for the plus-size women, made way for the plus-size lingerie brands in India,” says Akhil.
Speaking about the plus-size categories offered by Zivame, Amisha briefs that the brand’s True Curv collection was launched in 2014 with a range of 40+ sizes when no other brand in India catered to that range. The brand realised there was a huge gap in the market for sizes in this category as the largest size sold was a 38D and the lingerie consumers were constantly struggling to find the right fit and size.
Talking about the expansion plans, Pankaj says, “In the next 5 years, Clovia intends to be the largest lingerie brand in India. The company is planning to open 75 stores by 2021.
“Currently, we have 34 stores, and we are looking to expand to 60+ in a year’s time along with 800+ MBOs. Our constant endeavour is to provide the customer a seamless shopping experience and serve her through her channel of choice,” says Amisha.