Innerwear Evolution: The Stylish Comfort Wave Transforming Wardrobes

Innerwear Evolution: The Stylish Comfort Wave Transforming Wardrobes

India's innerwear sector has witnessed impressive growth, particularly post-pandemic, driven by the pervasive influence of social media.

Industry Dynamics:

  • Innerwear companies are strategically pursuing revenue and profit growth to optimize earnings.
  • The youth segment, with its immense sales and expansion potential, is a key target market.
  • A recent Textile Value Chain (TVC) report reveals the innerwear market segmentation:
    • Men's wear: 82%
    • Women's wear: 15%
    • Kids' wear: 3%
  • Analysts anticipate significant growth in the men's innerwear segment from 2020 to 2025.

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Market Trends:

  • The overall innerwear market valuation stood at $1.9 billion in FY20, projected to reach $3.1 billion by FY25, with a CAGR of 10.3%.
  • The women's innerwear segment, worth $4.4 billion in FY20, is estimated to grow at a CAGR of 14%, reaching $8.5 billion by FY25.
  • Kids' wear, valued at $14 billion, is expected to grow at a CAGR of 10.5%, reaching $23 billion by FY25.

These figures underscore the promising outlook and substantial growth potential across various innerwear segments.

Competitive Landscape:

  • Major players like Jockey, Zivame, Van Heusen, Rupa, Dollar, Enamor, Clovia, Marks & Spencer, Nykaa, and Amante are fiercely competing in the Indian innerwear market.
  • New entrants like Reliance Retail and Nykaa are making their mark, leveraging their strong online presence.
  • The landscape is complex, with Reliance Retail holding a dominant position in the men's wear segment, while Zivame and Clovia lead in the women's wear segment.

Key Factors Driving Growth:

  • Rising disposable income, particularly among the youth
  • Increased awareness of fashion and style
  • Growing focus on comfort and quality
  • Proliferation of e-commerce platforms
  • Expansion into smaller cities and towns

The Indian innerwear industry is poised for continued growth, driven by these factors and the increasing demand for stylish and comfortable innerwear.

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