Understanding the premium lingerie buying trends in India
Dwelling in an era, where modernity is no more a fad and the same is otherwise whimpering under the steady progress of the ultra-modern, lingerie has also gained its true momentum and have surpassed its modern glory to attain a super-modern state.
But is India really prepared to embrace the changing trends of lingerie? If yes! then how is the country really responding to the free flow of International lingerie brands into its territory. We were keen on understanding the mark which India has gained of lately in terms of the premium and super premium lingerie. And our research led us to an India that is progressively adapting the evolving phases of modernity quite proactively.
The market of intimate wear posted a compounded annual growth rate of 17% during 2009-13, the Rs 650-crore super premium category grew 26% and the Rs 1,800-crore premium segment by 22%, consultancy firm Wazir Advisors mentioned. The Rs 4,700 crore medium category, retailing at an average Rs 250 a piece, grew at a much slower pace of 17%, it said.
While a Consumer Market Research Report by a leading company has forecast that the online lingerie market in India will grow at a CAGR of 42.32% over the period 2014-2019. Which again houses a bigger segment of premium and super premium range of lingerie too.
An Ireland based analyst group – ‘Research And Market’ in their report on the lingerie trends in India, mapped out how the Indian lingerie market is living its best economic moments through the movement of more international brands into the market space. ” India holds immense growth potential for the lingerie industry, which is evident from the entry of large international brands in the Indian market in the last few years. A key factor characterizing the blooming of the Indian lingerie market is the increasing size of the organized market and the declining share of the unorganized market resulting in growing independent brands taking charge of the market. In addition, growing income levels of Indians and their changing lifestyles has re-christened lingerie from just an undergarment to a fashion clothing item, at least in the urban centres.
Times have changed for the better for the Indian women like never before in terms of fashion style and statement coupled with growing wealth that is helping the growth of the organized lingerie industry.
To read more turn to Lace n Lingerie May print edition….
