The innerwear industry in India has enormous growth potential and it is evident from the entry of many international brands in the last couple of years. As a report from Technopak highlighted, with rising incomes, higher discretionary spending, greater number of working women and growing fashion consciousness this segment will continue to grow exponentially. Presently, the current size of the Indian innerwear market is about Rs. 15,870 crores ($2.9 billion). This segment is expected to continue to progress and estimated to touch Rs 68,270 crore by 2024. Presently, women’s innerwear market stands at Rs. 9,540 crores ($1.7 billion), and is one of the fastest growing categories within women’s apparel.
amanté is a part of MAS Brands which is a subsidiary of MAS Holdings is the niche name in this segment. The brand is South Asia’s largest supplier of niche market intimate wear, the brand embodies 25 years of excellence held by the conglomerate in intimate wear manufacturing. At present, the brand is present pan India across 1500 outlets in the brick & mortar format and is also available online on all leading portals. The brand’s own stores are in all leading cities. The brand is looking to open 25 exclusive stores in India by the end of 2018. Speaking on market rise, Smita, Head Marketing, amante said, “The Indian lingerie market has witnessed a major boom in the last decade and is one of the fastest moving categories in India with a growth of 15 – 20% CAGR. “ Mainly, amanté stores are being planned to be in malls only, due to high footfall availability and has shop in shops across leading chains.
Evolving retail channels
In 1970 era, innerwear was viewed as an essential ‘commodity’ with no focus from any retailer. The market was highly fragmented and was dominated by local and unorganized brands. Unorganised MBOs dominated the innerwear market until the 1990s, after which there was an influx of Indian and foreign brands. Between 2000 and 2008, premium international brands started foraying into the Indian market. This was the time when men’s and women’s innerwear began to be sold through a variety of retail formats such as EBOs, LFS and departmental stores.
Now, online retailing is also gaining momentum with premium brands pioneering. Speaking on online retailing, Smita shared, “Our consumer base is largely young women, many of them who are now shopping online. Thus, ecommerce is an important channel for us to get new consumer base, and reach markets which have limited offline distribution. Also, our loyalists buy from our brand webstore as they are comfortable with buying from our brand. “
To tap the potential of online space, recently Canada-based lingerie brand Blush and American brand Elegant Moments have made india foray via The Lingerie Store (TLS), a lingerie aggregator. The online lingerie boutique offers exquisitely designed and wide range of lingerie.
Growing demand for ‘Brands’
Smita feels that the growth in this segment can be credited mainly due to the entry of various international brands and current organized players strengthening their game, and consumers buying more and better quality products to support their growing variety in outerwear.
As Technopak report indicated, women are increasingly conscious about the brands and styles for their intimate wear. In fact, this changing preference is no longer restricted to just the metros, but has spread to mini metros, tier -I, -II and -III cities. This openness to indulge in branded lingerie has led to a growth in the number of international and domestic innerwear brands present in India.
amanté is positioned as a premium intimatewear brand catering to the young woman aged 20-35. Its offering includes lingerie, night wear, swimwear and activewear. “We are looking to strengthen our portfolio continuously, adding new silhouettes to every category. Lingerie is our core focus as its available across every format and is a basic need of every consumer,” adds Smita. The brand is available from Rs 445/- to Rs 2995/- , with the average price point being popular at Rs 1095/.
‘Innovations’ led to Future
Consumers in India are becoming more aware and understand the importance product category better. Earlier it was always about cost, today it circles around design and quality. Speaking on same, Smita said,” Our brand has always been at the forefront of bringing latest innovations and technology fastest to the Indian consumer, putting the MAS group’s expertise into the brand’s range . Some of our innovations include introducing our bestseller Floral Romance – a 2mm t-shirt bra with a smooth finish infused with the magic of lace. Vanish – seamless panty with no visible lines in 3 silhouettes – Bikini, Hipster and Boyshorts. As a brand we are more fashion driven and servicing multiple needs than just offering basic coverage."
Going further she added that 2017 will see the intimate wear industry grow even more as women have increased need for good quality products in international trends and are willing to spend.
As Technopak report concluded, as women’s innerwear is expected to grow faster, brands should widen their share thereof. They also have to vary their product offerings and heighten the fashion quotient. Existing brands have the opportunity of expanding beyond just innerwear, Activewear, comfortwear and sleepwear are some natural extensions and promising categories. A smart pricing strategy must be employed in order to attract consumers and boost brand preference. Also, products need to be made available for kids and teens as well, in order to introduce brand comfort and loyalty from a lower age.