Nischal Puri, CEO of Brandis India, is buoyant about the growth of branded innerwear market in India. He believes that the brands that will dominate the future market in India are yet to emerge. Utilising his rich industry experience and consumer understanding, he is currently focusing on the women’s innerwear brand ‘Beyouty’ and men’s sportswear ‘2GO’ brand under Brandis India. At present the Beyouty brand collection is available in 200 stores across 40 cities and towns in India. The company is looking at acquiring 10 per cent market share in the next three years.
Puri says, the Indian lingerie market is on a high growth trajectory, with a lot of innovation going into the making of lingerie and technology transforming the segment into what it is today. Some of the factors leading to the growth of this segment in India are the growing number of working women, changing fashion trends, increased awareness about better fits, quality, brands, colours, styling, increasing per capita disposable income, rising level of information and media exposure, and entry of large number of foreign brands.
According to a research report by CARE, in volume terms, the women lingerie segment holds a 52 per cent share of the total innerwear market in India. It enjoys 66 per cent share of the total lingerie market, with a higher average selling price compared to the men’s innerwear market. Overall the lingerie industry in India is expected to grow at a CAGR of 18.3 per cent over the period 2009-2014. It is currently estimated at Rs 79 billion and is expected to be worth Rs 183 billion in 2014.