GROWTH OF INDIAN INNERWEAR MARKET

The Indian apparel market has been witnessing a shift towards the organised segment.  The premium and super-premium category in both the men’s and women’s segment has witnessed a higher growth than other segments. With increasing disposable incomes and customers’ willingness to shell out more for better quality products, domestic innerwear manufacturers are working towards increasing the share of premium products in their product portfolio.

The innerwear industry in India holds immense growth potential and it is evident from the entry of large international brands in the Indian market in the last few years. A key factor characterising the huge growth in the Indian innerwear market is the increasing size of the organised market and the declining share of the unorganised market resulting in growing independent brands taking charge of the market. The Indian innerwear market continues to be underpenetrated and thereby holds immense business opportunities. A distinctive shift from price sensitivity to brand sensitivity and preference for bold colours and innovative designs are two key trends to have emerged in this segment.

The women’s innerwear market is considered to be more dynamic, with many design variation and the regular introduction of innovative products. Growing number of working women, changing fashion trends, increased awareness about better fits, rising disposable income and level of information has given the women innerwear industry a new dimension. The men’s innerwear market is characterised by the presence of numerous Indian and International brands catering to different segments of the market. The economy segment contributes to 55% of the of the men’s innerwear market, while the rest comes from mid-price segment, premium and super –premium segments. The premium and the mid-price segments are expected to witness a higher growth rate within this market.

The Innerwear today has achieved new dimensions. An unending list of brands present in the Indian lingerie market is the proof of the great potential of the market in India. Innerwear has slowly come out of the closet in India today. About a decade ago the subject of lingerie was discussed in hushed tones. Today the scenario has changed and people are more comfortable talking about lingerie now. To emerge a winner in the market marked by the presence of multiple players, brands and retailers have to optimise their business operations by addressing the challenges and harnessing market opportunities. Bodybasics is a key retailer in the innerwear segment, focussing on the way innerwear is retailed in India. Come shop with us at www.bodybasics.in