Seattle, WA -- (SBWire) -- 11/11/2019 --Lingerie is woman underwear and is the most basic need of the women that provide comfort as well as fashion. The lingerie is made up of using common fabric such as silk, cotton, lace, polyester, and nylon. The market of lingerie is gaining high demand on the account of easy availability of lingerie with precise look and measurements and companies are also focusing on introducing fashionable and comfortable products. For instance, in 2017, NikeInc. launched a hyper-adaptive bra to support an athlete's needs called the Nike Motion Adapt bra, this bra provides enhanced support and comfort. Moreover, various companies have tied-up with the online platform sellers for promoting their brands and allow easy access to the customers.
Market Dynamic
Shifting preferences of women for using shapewear and bras to maintain the physical appearance and enhance the personality is projected to propel the market growth. Also, the growing number of women participating in sports activities and gym is further expected to boost the market growth. The market of lingerie is also expected to gain benefits from expanding the e-commerce industry. For instance, in 2017, Phillips-Van Heusen Corporation, entered into an agreement to acquire True&Co., an online lingerie retailer. The online retailer uses a fit quiz to recommend bras and other intimates that will fit best the responding consumer.
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Moreover, the rising trend of using diamond-studded lingerie for a fashion show and increasing focus of top lingerie brands such as Victoria's Secret, Amante, La Senza, for producing aesthetic, comfortable, and appealing lingerie is further expected to propel the lingerie market growth. On the other hand, the high cost associated with the product and promotions activities of the brand is projected to hamper the market growth.
Global Lingerie Market Outlook:
North America has experienced significant growth in the overall market in 2016 and this can be attributed to the presence of strong players in the region and rising initiatives by manufacturers to enhance sales. For instance, in 2018, Hanesbrands Inc., an apparel retailer company, acquired
Bras N Things, Australia-based lingerie brand for around US$ 400 million. Bras N Things Pty. Ltd. has over 172 retail stores across New Zealand, Australia, and South Africa. Moreover, in 2018, Victoria's Secret launched a new line of lingerie in Miami, to expand its brand's product portfolio. Similarly, in 2017, the brand began the production of a new line of underwear designed for women.
Europe has accounted for the largest share in the overall market in 2016 and this can be attributed to the growing number of initiatives by major players in order to meet the rising demand for lingerie in the region. For instance, in 2018, European Lingerie Group acquired Avangard, a Russian distributor of medical textiles and lingerie materials. Through the acquisition, the company aims to enhance the sales of fabrics to their lingerie customers in Russia. The Asia Pacific region is projected to experience the fastest growth in the near future because of rising purchasing power along with shifting influence of western culture. Also, manufacturers are focusing more on expanding their presence in this region in order to gain higher revenue in the market. For instance, La Senza Corporation, a Canada-based fashion retailer and subsidiary of L Brands Inc., launched its e-store in 2011, to increase their presence mainly in Australia. Moreover, in 2017, MAS Holdings which, sells products under Amante label, planned to acquire lingerie brands in India and also planned to hold 100 stores in the following 3 to 5 years. Moreover, the company planned to launch Ultimo Brand, a U.K.-based high street lingerie in India.
Key Players:
Major players operating in the global lingerie market include LVMH Moët Hennessy Louis Vuitton SE, L Brands, Inc., Hanesbrands Inc., Jockey International Inc., Nike Inc., Phillips-Van Heusen Corporation, Groupe Chantelle, MAS Holdings Limited, GGI Holdings Ltd., and Marks and Spencer Plc.
Furthermore, key players are adopting smart strategies such as mergers and acquisitions and new product launches for expanding their business in the market. For instance, in 2013, Hanesbrands Inc. acquired Maidenform Brands Inc. a U.S.-based the company that manufactures women's innerwear for US$ 547 million to expand its line of lingerie for the young population. Moreover, in 2016, the company acquired Pacific Brands Limited, an intimate apparel company in Australia.
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Market Segmentation
By Product Type
- Bras
- Knickers & Panties
- Lounge Wear
- Shape Wear
- Others
By Distribution Channel
- Online Stores
- Hypermarket
- Supermarket
- Specialty Stores
- Others
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Lingerie Market Is Estimated to Grow at the Highest Growth Share Till 2027