Like any other commodity market, lingerie market has its own significant share in the trade world. Over decades, lingerie has gained popularity and thus, its market has grown tremendously. The line graph, if plotted, would depict an escalation in its demand since the time it was conceived till date with no significant troughs.
Globally, the lingerie market is worth over $30 billion and has been dominated by the Western world with America and UK holding the charge. It is no news that Victoria Secret changed the view of lingerie from a taboo to a daily necessity. This American Company is the largest lingerie retailer in the US and has seen many competitors from different countries but is yet to have a replacer and so is considered the King in the Lingerie Market.
The increased demand for lingerie has been attributed to the younger population with per capita disposable income, the media influence and changing attitude towards innerwear.
Few brand names in the lingerie world are quite popular. Mark & Spencer from United Kingdom hold a significant 26% of market shares and have made quite a reputation for themselves. Calvin Klein, DKNY and Jockey are few such names that have been a popular choice even among the developing world.
Although, western world dominates the lingerie market, Asian countries are also in the game. China has built a name for itself in the undergarment world with its trendy and stylish designs. The Chinese lingerie market value stands at around $2.3 billion. One of the top lingerie manufacturer and the market giant is the La Miu, which is nicknamed the Victoria Secrets of China. The Chinese women being petite, aspire to look innocent and cute rather than sexy and this is what the top manufacturers exploit on.
Indian Market, on the other hand, has seen relatively faster growth in a short period of time. The lingerie segment occupies about 52% of the total innerwear market and is worth 66% of the total income. The lingerie industry targets mainly the premium, economy and mass market segments. While the premium has a smaller but faster growth, the main profit maker is the mid market segment. The fact that the population is becoming less cost sensitive has made malls and lingerie boutiques the chief lingerie outlets.
Now that online stores have become more popular where one can shop at leisure and without any stigma, the lingerie market has just opened its floodgates to a more promising growth in future.