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