Lingerie is the inner clothing worn by women comprising one of the most basic needs and providing comfort as well as fashion. The common materials used to manufacture lingerie include cotton, silk, lace, polyester, and nylon among others. Women are increasingly being inclined toward wearing lingerie with precise look and measurements. Therefore, companies are focusing on launching comfortable and aesthetic products. For instance, in 2017, Nike Inc., launched a hyper-adaptive bra to support an athlete’s needs called the Nike Motion Adapt bra, this bra provides enhanced support and comfort.
The growth of this market is attributed to the growing e-commerce sector, which includes shopping websites. This in turn, is influencing major players to focus on enhancing their business via online stores and sites. 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 best fit the responding consumer.
Growing preference of women towards products such as shapewear and bras, to help maintain a positive look and enhance the aesthetic appeal of the body, is expected to boost growth of the lingerie market. Moreover, increasing number of women participating in fitness-related activities such as marathon, gym, and other sports, is further expected to increase the demand for products such as sports bras, thereby fueling overall growth of the lingerie market.
Furthermore, increasing trend of using diamond studded lingerie for fashion show and growing focus of top lingerie brands such as Victoria’s Secret, Amante, La Senza, on manufacturing aesthetic and appealing lingerie, is further fueling growth of the global lingerie market.
However, high cost of promotions such as advertisements, influences market players to increase the product cost, which in turn, hampers growth of the lingerie market, globally.
Global Lingerie Market Outlook:
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.
Moreover, major players in this market are focusing on inorganic growth strategies such as mergers and acquisitions and new product launches, in order to enhance their business in the competitive market. For instance, in 2013, Hanesbrands Inc., acquired Maidenform Brands Inc. a U.S.-based company who manufacture women 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.
Global Lingerie Market Taxonomy:
Global Lingerie market is segmented into:
By Product Type:
By Distribution Channel:
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