How Will The Emerging Political And Economic Scenario Affect Lingerie Market Opportunities In Key Growth Areas?

Lingerie is the inner clothing worn by women comprising one of the most basic needs and providing comfort as well as fashion. The common materials used to manufacture lingerie include cotton, silk, lace, polyester, and nylon among others. Women are increasingly being inclined toward wearing lingerie with precise look and measurements. Therefore, companies are focusing on launching comfortable and aesthetic products. For instance, in 2017, Nike Inc., launched a hyper-adaptive bra to support an athlete’s needs called the Nike Motion Adapt bra, this bra provides enhanced support and comfort.

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Market Dynamics:

The growth of this market is attributed to the growing e-commerce sector, which includes shopping websites. This in turn, is influencing major players to focus on enhancing their business via online stores and sites. For instance, in 2017, Phillips-Van Heusen Corporation, entered into an agreement to acquire True&Co., an online lingerie retailer. The online retailer uses a fit quiz to recommend bras and other intimates that will best fit the responding consumer.

Growing preference of women towards products such as shapewear and bras, to help maintain a positive look and enhance the aesthetic appeal of the body, is expected to boost growth of the lingerie market. Moreover, increasing number of women participating in fitness-related activities such as marathon, gym, and other sports, is further expected to increase the demand for products such as sports bras, thereby fueling overall growth of the lingerie market.

Furthermore, increasing trend of using diamond studded lingerie for fashion show and growing focus of top lingerie brands such as Victoria’s Secret, Amante, La Senza, on manufacturing aesthetic and appealing lingerie, is further fueling growth of the global lingerie market.

However, high cost of promotions such as advertisements, influences market players to increase the product cost, which in turn, hampers growth of the lingerie market, globally.

Lingerie Market Taxonomy:

On the basis of product type, lingerie market is segmented into:

Bras
Lounge Wear
Shape Wear
Others
On the basis of distribution channel, lingerie market is segmented into:

Online Stores
Hypermarket
Supermarket
Specialty Stores
Others
Global Lingerie Market Outlook:

North America exhibited prominent growth in the global lingerie market in 2016. The growth is attributed to the presence of major players in the region and increasing number of initiatives to enhance sales. For instance, in 2018, Hanesbrands Inc., an apparel retailer company, acquired Bras N Things, Australia-based lingerie brand for around US$ 400 million. Bras N Things Pty. Ltd. has over 172 retail stores across New Zealand, Australia, and South Africa. Moreover, in 2018, Victoria’s Secret launched a new line of lingerie in Miami, to expand its brands product portfolio. Similarly, in 2017, the brand began the production of a new line of underwear designed for women.

Europe accounted for a largest share in the global lingerie market in 2016, owing to the increasing number of initiatives by major players to meet the growing demand for lingerie by consumers. For instance, in 2018, European Lingerie Group acquired Avangard, a Russian distributor of medical textiles and lingerie materials. Through the acquisition, the company aims to enhance the sales of fabrics to their lingerie customers in Russia.

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Asia Pacific is expected to hold the fastest-growing market for lingerie over the forecast period. This is owing to the increasing purchasing power and rising influence of the western culture are the major factors driving growth of the lingerie market in this region. Major players are focusing on expanding their business in this region to obtain higher revenue and strengthen their market presence. For instance, La Senza Corporation, a Canada-based fashion retailer and subsidiary of L Brands Inc., launched its e-store in 2011, to increase their presence mainly in the Australia. Moreover, in 2017, MAS Holdings which, sells products under Amante label, planned to acquire lingerie brands in India and also planned to hold 100 stores in following 3 to 5 years. Moreover, the company planned to launch Ultimo Brand, a U.K.-based high street lingerie in India.

Key Players:

Major players operating in the global lingerie market include LVMH Moët Hennessy Louis Vuitton SE, L Brands, Inc., Hanesbrands Inc., Jockey International Inc., Nike Inc., Phillips-Van Heusen Corporation, Groupe Chantelle, MAS Holdings Limited, GGI Holdings Ltd., and Marks and Spencer Plc.

Moreover, major players in this market are focusing on inorganic growth strategies such as mergers and acquisitions and new product launches, in order to enhance their business in the competitive market. For instance, in 2013, Hanesbrands Inc., acquired Maidenform Brands Inc. a U.S.-based company who manufacture women innerwear for US$ 547 million to expand its line of lingerie for the young population. Moreover, in 2016, the company acquired Pacific Brands Limited, an intimate apparel company in Australia.

Key Developments:

In 2019, RTW Retailwinds, the US-based wear-to-work retailer has launched a lingerie brand under brand name Uncommon Sense today which offers , bras, swimwear, and sleepwear.
In 2019, Parfait, a company based in the US has launched plus sized intimate apparel in India. The major focus of Parfait is on core and plus-sized customers under 30 to 44 band sizes.
In 2018, an Indian company Clovia has launched a range of bridal lingerie.
In 2017, Naked Brand Group Inc. went into a merger with Bendon Limited to expand its footprints globally.

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