What is the VFM segment ?

December 7, 2018 written by
what is vfm segment?

Of late in the industry one word which is commonly used is the VFM brands? What is this VFM category? It is not clear to the denizens of this trade and to the outsiders it is even more confusing. So we thought in this anniversary issue we once for all put this debate to rest and explain in clear cut language what this term means ?

With the emergence of MNC brands in the nineties and early 2000, consumers got a taste of International brands and their offering. These were usually priced between INR 800/- to INR 1500/- which was out of the reach of most Indian consumers back then.

The Indian brands did not perceive them as threat, because they thought these price points were out of the reach of most Indian consumers. While the Indian consumers like the offering what these brands had to offer and most of them did buy at the annual discount sales at 30 to 50% mark downs. But still they were not in the budget of most well earning urbanities back then.

The Indian brands were having a larger chunk of the market and they were offering the intimate between 100/- to Rs. 700/- or in some cases for Rs. 1000/- for sets. As the MNC brands realised the consumer apathy for hi price points, they tapered their offerings, between the price points of INR 350/- to INR 600/-.

They slowly entered the bastion of the home grown brands. Indian brands were largely making bras in woven cotton or 100% knitted cotton fabrics while the MNC brands were offering their bras in polyamide and cotton lycra which were both new for this segment. As a result, the MNC brands could offer better fits (The consumers could make the difference) and even made bras in graded cup sizes like B/C/D & DD in some cases while Indian brands stuck to the traditional B cup.

This was the key differentiator which weaned a lot of the customers, the loyalist from the Indian home grown brands to the new MNC brands. Also the new crop of customers the younger audience were being captured by the MNC through their slick marketing.

Slowly a wall emerged between the MNC and the home grown brands. Home grown brands retreated to a segment between INR 100 to INR 350/- which is now called the VFM segment.

Most Indian brands have been growing quite steadfastly in the last decade or so nonetheless. But some MNC brands have grown even bigger in the last decade or so. This is largely because of the nature of the segment in which the respective brands are operating in. The mid premium has grown the fastest in the last decade or so from a low base to a sizeable presence today. Another factor of this segment is there are just a handful of brands in this segment while the VFM is a very crowded segment.

The VFM segment will continue to grow unabated due to the demographics and the dynamic nature of the Indian market for the next thirty years. But the growth may taper as India growth story continues and as we grow from being the sixth largest economy to the third largest economy and the second largest economy in the next three decades. With a higher disposable incomes the consumers are always upgrading themselves dynamically.

Mid Premium Fashionable Lingerie

Alies logo

Decent Enterprise was established in 2004 by Arvind Patel  a young entrepreneur who  saw a gap in mid priced VFM category for fancy lingerie in the country. He coined his brand as Alies Lingerie.

With a constant thrust on cutting edge R & D, the company is credited with fabulous products that have set a new benchmark in this category.

At any given time they have a repertoire of over 150 styles comprising of t-shirt bras, padded bras, feeding bras, fashionable bras and sets in sizes 30 to 40 B & C cups.

The following striking features their range is appreciated all over India. Color fastness, finely stitched, best quality fabric, skin friendly, easy washable, enticing designs. Alies Lingerie  offers a wide range of products which caters to the diverse market and are present in all top retails outlets in all states and cities across India.  The company possesses a sound infrastructure such as manufacturing, quality assurance, warehousing.

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The secret of their success : High grade garment machinery,  timely deliverance of products, technically efficient team, transparency in business, fashionable and innovative patterns.


Price Range:  INR 210-INR 800

MBO’s : 500+

Distributors: 20

Employees: 12

Well established brand in mid premium 

Alisha Logo

Alisha  Lingerie was established in the year 2005 by Mr. Govind Patel  who has over 15  years of experience in lingerie manufacturing before he started his venture.  His core expertise lies in fabric  moulded cup bras and padded bras for the Teen segment.

Later he also started manufacturing bras and sets in fancy laces. Ahead of the festive and winter season the brand has added exclusive seamless, printed and padded products along with bridal set of fancy bra and panty into its collection. Alisha’s range is being supplied to all states across the  country to around 1000 retail point through the help of its well established 25 distributors.

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Sakshi Enterprise has a well established manufacturing setup in Navghar at Vasai spread over 5000 sq. Ft with all the latest machinery.

Feel Feminine

Alishan logo

Delhi-based company Alishan was launched  In 2015 by Mr. Alam Chaudhary  who created quite a name for himself as being a private label manufacturer for all the leading brands of the country.

He has over 3 decades of experience in manufacturing.

That is the reason for his strong technical knowledge in bra manufacturing and pattern making.

In a short span of three years Alishan has been able to establish itself among the stalwarts. Today the brand is available at all leading retail shops all over India.

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The product ranges from Popular to the mid premium in the VFM range. The core of the brand lies in its good consistent products which are very economical and trendy as well. They have a full range of bras from woven cotton to knit cottons, lycra blended cotton, stretch satin, polyester and stretch polyamide as well.

Alishan is a brand to look out for. The brand has tasted success and is rearing to forge ahead.


Price Range: INR 84-INR 516


Employees: – 50


The Leading Brand of Bangalore

Avon logo

They were among the pioneers in Bra manufacturing in Bangalore having started way back in 1965. Avon Brassieres is pretty much a household name in Bangalore. No retail or readymade garments store is complete without retailing Avon Brassiers.

Undoubtedly their sway over the Bangalore market remains even today and they are the leading brands in terms of quantity and the market cap. As a manufacturer they have ensured uncompromising attitude towards quality. They have manufacturing facilities in Mumbai to ensure top quality products are only sold to its customers. They have the widest distribution network in entire Bangalore and its vicinity.

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Around 1500 MBOs in Bangalore city retail this brand. They have steadfast team of distributors which see that the market is serviced quite well.    They have maintained the status of the brand as VFM and they reach a sizeable section of the population. The brand loyalty for Avon is perhaps their greatest asset, in these tough competitive times. No wonder they are growing steadily and surely.

Since their brand philosophy revolves around providing topnotch products at competitive pricing.  They have a design studio in Mumbai where they employ expert craftsmen who bring with them several years of industry experience and creative skills.

They believe in perfection and have a great eye for detail and manufacture bras only from premium fabric and they give their customers the most innovative styles at down to earth prices.

They offers over 100 styles of Brassieres made from knitted combed cotton, lycra cotton, woven cotton and polyamide nylon material

India’s leader in the mid segment Lingerie segment

Daisy Dee logo

Country’s best mid-segment lingerie brand Daisy Dee, from the house of Lovable is celebrating 19 years in the intimate’s business which is an achievement by itself.

From its iconic SalwarKameez Bra; Daisy Dee a pioneer of introducing moulded bra to the Indian market has been growing multi-fold over the years to become an integral part of the lingerie industry in India.

Mr. Giri Raj G.M. Sales & Marketing who has been with the brand for over seventeen years. A stalwart in the industry proving that personal relations are worthy of more attention even in this cut throat professional world.

As a core member, he is involved in critical decision making, concerning functional as well as managerial spheres, proficient in handling multiple verticals of business.

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Discover Daisy Dee’s journey of becoming one of India’s most popular mid-segment lingerie brand.

The collective credit of the brand success goes to the top management, dedicated staff, channel partners, retailers and above all our esteemed brand loyalists without whom Daisy Dee would not have grown to such great heights.

The bra fulfils most of the demands and has been designed keeping in mind the constantly evolving needs of every Indian woman. The use of special elastics, fabrics and many other innovative features add up to make DAISY DEE the best in the league. Still Daisy Dee is considered a value for money product which is its core band value.

Daisy Dee markets across 15,000 retailers in India with an extremely good network of distributors and sales personnel covering the length & breadth of the country.


Some of their well-known styles are Super Shapers as a full-coverage bra, 16 Hours Day, Day Timers, Saree Bra, Special Moods made of Chikan lace – a fancy lingerie to name a few and College Style – the padded bra segment stands next in line as a notable offering.

Keeping teenagers in mind, Daisy Dee had come up with their most popular SalwarKameez Bra.

Daisy Dee’s SalwarKameez Bra a bold revolution in the lingerie industry has educated many women who can now confidently get dressed in their seamless brassieres without the seams dampening the look of a garment. These bras eliminate ungainly seams, awkward creases and embarrassing bulges showing through the body hugging SalwarKameez.

Daisy Dee customers can be addressed as women who are youthful and smart with an enterprising personality that is evident in both professional and personal spheres. Juggling with chores and multi-tasking are the two other characteristics that set the Daisy Dee woman apart from other women who are diffident about making the right lingerie choice. She is well informed and intelligent who links her purchasing judgement to the information that is made available through visual and print media.


LFS -100 +

MBO’s-15,000 +

Ecom – 10+ Portals

EBO’s – 2

On a steady growth path

Dont Shy logo

The company was incorporated in 2009 with a manufacturing unit in Ghaziabad (UP) by Mr. Vikram . They manufacture: Fancy Bras, Bridal sets, A to F cup size Bra,  Padded Bras, fabric Molded cup Bra

They offer wide choice of fabric viz. cotton, lycra blends, knitted cotton, net & laces.  The Brand is among the youngest player in the industry and has created a  niche for itself in all segments it plays in.

The company has undertaken focused approach with aggressive distribution strategy that is fueled by robust manufacturing setup that has resulted in consistency in supply and strong trade relations that supports the Brand salience at point of purchase.


In last 9 years, company is grown manifold to capture sizeable market share & shelf space in the industry is committed to consolidate and grow the market share in coming years by keeping thrust in its manufacturing abilities and nurture trade relations that shall build a strong connect to provide unmatched value to its target consumers.


Price Range INR 150- INR 470

MBOs- 500+



EBO’s- 10+

Find Your Perfect Fit

Dreams Logo

Dreams Lingerie has been synonymous with style, quality- crafted, femininity since its launch in 2003.

Born out of a desire to set a unique trend, Dreams Lingerie products is a growing portfolio of signature styles including perfect-fit bras and, each collection offers flawless foundation pieces alongside fashion-forward designs. The range is available in INR 175 to INR 750. They have a wide spread distribution in MBO’s in about 17 states of the north, east and the west.

Headed by Mr. Manoj Jain, a technocrat with wide experience in Lingerie manufacturing.  Dream lingerie designs incorporate sumptuous fabrics, exquisite detailing while also allowing for the comfort and well supported silhouettes.


Dreams Lingerie rose to fame thanks to the young Indian women who appreciate the products. With the changing trend in Intimate apparel,

Their strong foundation in Delhi enhances the capacity to serve Indian market in a significant way.

The collective ambition and vision of the family of the brand, Dreams lingerie backed by a tremendously productive and dedicated workforce is taking shape in form of sustained quality and speed of production.

Inspired by the commitment of consumers, Dreams Lingerie is working around the clock to deliver innovative designs and 100 per cent quality product. They are also the OEM manufacturers for several private labels and institutional buyers.

Wide distribution, strong hold

lily Garment logo

Shivam Sales established since 1996, is one of the oldest manufacturing company of bra, panty and bridal sets. The company was started by Mr. Sanjeev  Gulati  from the very small scale and now it is one of the largest company in Northern India and  supplying in 8 states viz Delhi, Haryana, U.P, M.P, Maharashtra, Uttarakhand  and  Rajasthan.

We believe that lingerie must be romantic, feminine and beautifully crafted to give you perfect shape and full comfort with latest style. It should be like that which makes you a complete woman and express your inner beauty.

The contemporary lingerie division of intimates, embodies a panache and passion for fashion forward designs, impeccable craftsmanship, bold colours and luscious fabrics with flirty details.

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The company’s core business is in distribution, wholesale and manufacturing. We proud ourselves for integrity, customer service excellence, trend-night designs, high quality and competitively priced products


Price Range INR 120- INR 490

MBOs- 5000



A tribute to the Indian women

Maden Beauty logo

Maiden Beauty was launched by its founder chairman  M.R. Bhatia in 1969, to provide Indian women with world class intimates.

It has been the endeavor of Maiden International to adopt the stringent quality control measures, keeping in mind the philosophy that every stitch enhances its beauty and durability.

Fiber to fabrics, thread to elastics, trims to laces & embellishments to accessories, every care is taken to procure best of the materials from Indian as well as foreign suppliers and manufacturers from all over the world.

Maiden Beauty is available in a vast range, in various cuts, shapes and designs.  From deep plunge to long necklines, balconettes to strapless, ring bra to choli, maternity to nursing, minimizer to full cups and for teens, newly weds, from 65cms to120cms bandwidths, and in “A” to “H” cup sizes.

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Over the last five decades, Maiden Beauty has created a niche amongst the discerning customers and have evolved itself to a bra which is known for its superb fit and plus size lingerie.

Maiden Beauty, yes, indeed is a tribute to the Indian woman from the master craftsman.


Price Range INR 465- INR 1399

MBOs- 250+


Leading entity in Kerala market

Mybra logo

Mybra Lingerie Pvt. Ltd was established in the year 1968 by their founder A.N. Radhakrishnan as one of the pioneers in India for Ladies innerwear.

The company has gradually grown to become one of the leading manufacturers and exporters of lingerie from India, with a very strong domestic market with over 2000 retail outlets that stock

MYBRA International markets include UAE, UK, Saudi Arabia and Kuwait. They have a work force of 800 employees, with state of the art manufacturing facilities in Bangalore and Canannore, with the production of 8000-9000 pcs/day.

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The company also has its in house Elastic manufacturing and dying plant with a capacity of 50,000 mts/day.

The product range includes Brassieres, Panties, Camisoles, Corsettes, leggings, shorts and Body shapers.


Price Range INR 140- INR 700

MBO’s- 2000


Pioneer & Leading Manufacturer in Gujarat

Calibra logo

Makhija Intimates, started manufacturing innerwear in the year 1949 under the brand name of “Better Form”.

An ISO 9001:2000 certified company they have over the years expanded their product range to Daily Wear Bras, Fancy Bra n Panty sets, Padded bras, Sports Bras, Seamless Bras, Minimiser bra, Bridal sets etc.

They even introduced a new brand in 1997 by the name of “Calibra”. Using various types of cotton, knitted and lycra fabrics they add to their already extensive range an array of 50 different colours.

The Bras are priced at Rs. 95 to Rs.450 , Panties are available at Rs. 55 to Rs. 130, and sets are available at Rs. 180/- to Rs. 650/-

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A family run business for over sixty five years this brand has reached all the markets of India. With eyes set on strong export and expansion plan,

Calibra will continue provide quality and style at economical prices.

Pioneer & Leading Innerwear brand in South

Intimacy logo

Decades back when lingerie was an alien concept  Shri M.G Naidu decoded the art of stitching garments that the women can stylishly wear along with their saris. He not only stitched the first bra but actually educated the women to understand the importance of the same.

Promoters of the well known store in Chennai – Naidu Hall. Shri M.G. Naidu started Naidu Hall in 1939 as a blouse-tailoring unit in a garage.

What began in 1939 from a humble 500 sq ft space is today a 50,000 sq ft store. Passed on from Shri M.G.. Naidu to his son Mr. Venugopal owns the Naidu Hall family store today.

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Naidu Hall the multi brand garment retailer today has undergone several layers of expansion to finally attribute to a retail network of 16 Retail stores and with more than 2000 dealers spread across Tamil Nadu, Kerala and Andhra Pradesh.

Naidu Hall also exclusively manufactures and sells  lingerie under their own banner both online on their website exclusively and at the retail outlets too.

A large scale manufacturing facility for Naidu Hall was established in Ambur at a nearby village  known as Pallitheru. Shri  M.G Naidu’s wife  Smt. G. Jayalakshmi  hailed from the above  village.

Naidu Hall also houses their own brands, Intimacy in women’s lingerie segment, NH series shirts, jeans and trousers etc Enhance, the premium menswear range and Shreya for saris OH-BABY for infants, the brainchild of late Shri Navin Venugopal (Son of Shri G Venugopal).

A brand for every niche segment in VFM

Tweens logos

Belle Lingeries is marketer & manufacturer of lingerie products of brands Tweens, Souminie, Komli, Centra & Rajnie with its manufacturing unit in Ghaziabad with capacity 6.0 lakh pcs per month & extensive sales & distribution network pan India in Offline & presence in all leading e-commerce stores in Online space.

They  have state of the art manufacturing with all machineries in-house from Elastic manufacturing, laminating & moulding, cutting & stitching and dyeing process.

Tweens – T-Shirt Bras for College girls & working women with seamless range of printed & colorful bras in Padded, Underwire, Push-up, Sports, Tube, Backless, Sleek Look, Bralette& Non-Padded.

Souminie – Classic Bra has been specially crafted to provide more coverage and support made of 100% cotton based fabric and high quality elastic straps for total comfort and right fit

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Rajnie – A Plus-Size Bra has been specially designed for full figured woman to give them full support.

Centra- with its 100% soft cotton and elastic Centre provides you firm support.

Komli– a classic range of seamless bras that understand & fulfils the basic needs & desires of today fashion conscious women.

One of the most venerable brands of India.


Its range of uber cool lingerie has been part of the women’s innermost feelings, providing comfort and confidence in equal measure.

All its products are manufactured with the finest fabrics engaging superb craftsmanship using state-of-the-art machinery.

With its “Customer First” attitude, Softline Butterfly has developed a sensitive and emotional relationship with its valued consumers…because it has always responded to their needs and reflected the trends of the marketplace.

Softline Bras and Panties is the first brand in the segment with classics style lingerie which offers quality fashion and comfort at an unbelievable price.

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The bras are available from a price range of Rs. 84 to Rs. 330.

Good quality products at affordable prices

Salinnt logo

“Salient”, is now under  the company “ABHINANDAN  CREATION“, on an exclusive basis for the Indian market.

“Salient”  has deeply ingrained culture of understanding the lifestyle of its target audience and reflecting that in its lingerie products. With the creativity of the expert  in – house designers. The company sets new standards using innovation as a tool. About 1500  to 1700 retail outlets in various states in India sell “Salient” bras and panties, and more are jumping on the band wagon.

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Price Range INR180 – INR795

MBOs- 1700+


Employees : 97+

Creating a niche for shapewear in India

Wdee logo

Swee is a Shapewear brand found in most Indian women’s wardrobes as an essential element to carry a perfect makeover styles every day. Omtex – the parent company of Swee is a very old and famous brand in India & abroad. It launched Swee Shapewear in November 2013.

Swee is an instant sliming solution for women. The brand helps in providing slimming and shaping support to the body. It is seamless as well as comfortable and endows women the perfect hourglass body shape that they desire.

A shaping wonder replicating the motto of Omtex, Swee emerged as an innovative product for the modern women of India. Swee shapewear is a seamless body shaper made of a light-weight fabric which does not cause irritation or harm your skin. It’s nothing but your second skin without the superfluous stitches and won’t be visible even if you wear it under a thin fabric.

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Each product is specially designed to control, shape, slenderize and smooth your body in the areas you need it the most. Swee shapewear is made with specialized weaving technology which maximizes the slimming effect on strategic points of the body.

Explore yourself in style

sherry logo

Sherry proudly presents a wide range of Ladies Innerwear that is stylish, fashionable, trendy and yet so comfortable. Sherry in one word can be described as PASSION – a passion to create the finest Lingerie using the latest fabrics, laces and accessories. Keeping track of the latest in the international Lingerie industry, a dedicated team working in the Company has adapted the latest trends to local taste and suitability without sacrificing Comfort and fitting for the modern woman.


Sherry is one of the prominent manufacturers of branded lingerie in the organized sector in India. It is available in leading Multi Brand Outlets in all major cities and metros across India.

Sherry’s innerwear is not only sold in India but the Company has regular exports to Middle-East and African countries, reflecting the high quality standards achieved by the Company. Sherry’s range of Ladies Innerwear caters to all ages, be it the budding teenagers or the fashion conscious youth or the mature woman. Sherry’s range of innerwear consists of: Ladies Bras, Ladies Bra-Panty sets, Ladies Panties.

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Price Range INR180 – INR795

MBOs- 1000+


Employees- 45+

Ecom- 05

Fulfilling the needs of mid value segment

Yoke logo

Established in the year 1985,  “Yoke Corporation”, are a profound organization specialized in manufacturing and exporting of Ladies Brassieres, Panties and Night Dresses (Gowns).

They are regularly supplying in the Indian and Gulf Market. Working to meet patrons preferences and tastes, they have streamlined all their tasks to fulfill the customers desires.

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Moreover, they have regular quality checks which is at par with international standards. They have set up a ultra modern manufacturing setup in Kalyan to manufacture lingerie.

The company’s  mission is to take this brand name not only in the domestic but also in the International market  and be known for quality products it manufactures. The company is well diversified group, run professionally for the last 30 years and with the infusion of young blood in the group the co is poised to make great strides in future.

Yoke is having a manufacturing unit and factory set up with all international norms complied



Price Range INR180 – INR 650

MBOs- 1500+

Employees- 450+

Creative and fancy lingerie in down to earth prices   

Tipsy logo

A.P. Enterprises was established in New Delhi in  1994. engaged in manufacturing Hi Fashion Lingerie

They believe that lingerie must be romantic, feminine and beautifully crafted to give you perfect shape, comfort with latest style .

Their endeavor has always been to satisfy the customers and by adhering to strict quality control standards and the creation of some unique and innovative designs. They have also introduced a nightwear brand in Jan 2014 “Bold Desire”

Bold Desire : Baby Dolls, Teddies, Nighty Slip, Bedroom Nightwear, Honeymood Set, Fantasy Play, Intimate Wear . Their speciality lies in bridal sets and luxurious lingerie.  Designed in exquisite net, imported lycra laces, fancy embroideries, printed fabrics, satin stretch fabrics,  They have three manufacturing units in an around Delhi with a total of 50,000 sq ft area with the latest machinery and state-of-the art facilities at Tronica City.

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Price Range INR100 – INR 600

MBOs- 1000+


Employees : 50+

The leading brand in Kerala & Southern India

V-star logo

V-Star Creations Private Limited, textile wing of V-Guard Industries Private Limited, Kochi, India, under the leadership of Mrs. Sheela Kochouseph. They are engaged in the manufacture and marketing of better quality readymade garments namely churidars, nightwears, ready to stitch churidar material, pardhas and undergarments like bra, panty, vests & briefs.

A company of people committed to fulfill the wants of demanding customers in terms of quality variety and comfort since 1995.

Seeing the market potentiality and the demand for quality products in inner wear, we started Vanessa lingerie and later on Valero vest, brief & trunks in 2002-03.

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The Vanessa bra, panty and camisole are designed to match international standards and at the same time provide value for money to the average consumer. It’s a quality range of perfect fit bra and panty, just right for the new-age women of all ages. Crafted with a flawless blend of lace and fabrics, Vanessa matches the very best of the International market. The specially crafted cups, strong elastic straps and the best quality cotton & lace materials enhance the feminine aura from within. There are more than 100 variety of colours in Vanessa and Valero together.

They have more than 6000 dealers in Kerala,  Karnataka, Tamil Nadu,  Goa and  Andhra Pradesh. Around 80 to 100% growth at an average is expected in the next few years.

They are equipped well for advance production so as to supply any quantity of products in a short span of time. There are more than 20 manufacturing units and more than 1,200 workers in those units. They advertise through print & electronic media and BTL activities.


Price Range INR100 – INR1200

MBOs- 6000+


EBO’s – 15+

Employees : 230+

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