Speaking with Salil Chawla, Director of DFU Publications, and Harinarayan Madhavan, Co-Founder & CEO l Underlinen Fashion House, on the sidelines of the Intimasia 2025 show.
The industry is undergoing a rapid shift from unorganized to organized sectors, benefiting both sides of the spectrum. The future looks bright, making this a highly promising space to be in.
As Harinarayan aptly pointed out, the industry is evolving at a significant pace. This morning, Prashanth from Wazir highlighted the potential for an 8% CAGR, with projections indicating that by 2031, the market will be nearly 2.5 times its pre-COVID size.
While some industries have long been established, there remains substantial room for growth. Whether in retail, technology, or styling, opportunities abound. The expanding rural market, coupled with the rise of e-commerce, is driving exponential volume growth.
I remain highly optimistic about consumer buying patterns. Companies that develop the right products with the right capabilities are poised for immense opportunities. As Rajkumar Ji noted, the industry is set to grow 2.5 times over the next 4–5 years, reinforcing its strong potential.
However, alongside growth come new challenges. In the past, product distribution followed a straightforward, traditional model. Today, the landscape is far more complex, with multiple sales channels, including general trade, modern retail, and e-commerce. Social media has made consumers more informed, leading to evolving expectations for both products and services.
Market dynamics are shifting rapidly. Just as businesses adapt to one change, new trends emerge, requiring them to recalibrate their strategies. This presents both challenges and opportunities for those willing to be agile and embrace innovation. Leveraging AI, ERP systems, and strategic collaborations—including freelance expertise in design—can provide a competitive edge. No company can master every aspect alone; partnerships are key to sustained growth.
Despite retail challenges, those who can navigate and solve them will thrive. From a retail design perspective, the intimate wear sector has seen significant evolution over the past decade. Consumer expectations vary across geographies—what works in the South differs from the North, West, and East. Retail spaces must be designed accordingly to enhance customer experiences.
The biggest transformation lies in how certain categories are now viewed independently rather than as mere subsets of larger businesses. Previously, lingerie and nightwear were just another section in a store.
Now, with emerging brands and exclusive collections spanning swimwear, maternity, resort wear, and travel essentials, the category has gained distinct prominence.
This shift has also paved the way for direct-to-consumer (D2C) brands to establish offline presences. Companies like Kavera are redefining the landscape, creating a new era for the industry—something unseen in the past five to six years.
In essence, the industry is no longer just growing; it is transforming. Those who adapt will not only sustain but lead the future.