Strategic tools for the practising manager
The market for lingerie in India is approximately Rs 8,700 crore growing at a CAGR of 14 per cent. The market for branded lingerie in India can be divided into four segments — economy, mid, premium and super premium. The segments are defined by price as well as the fashion quotient offered by the brands. Enhanced product attributes across fabric, multi-functional features too define a segment’s offerings.
With more women joining the workforce there is a big improvement in their spending power. This in turn has given a big boost to the market for western outfits. The preferences regarding lingerie are also changing. They are associating innerwear with special occasions and different usage options.
The mid to premium segment forms 52 per cent of the market and is expected to grow fastest at 22 per cent CAGR in the next five years. The branded lingerie market faces stiff competition from regional brands besides the unbranded segment. Local brands enjoy strong regional distribution, local manufacturing and hence low pricing. Low pricing helps increase volume for such brands.
Consumers are becoming as conscious about innerwear as they are about outerwear. They associate lingerie with fashion and look for value added products in terms of cuts and styles.
Some of the brands in this market according to segments are:
Premium — Hanes, Jockey, FOTL, Enamor, Amante
Super premium — Triumph, Bwitch.
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