Defying the popular belief that lingerie items are often the most unnoticeable and bland part of the dressing style, some of the major expensive luxury brands have fruitfully dabbled in this specific sector and changed the way consumers look at the undergarments. The rapid expansion of the salary structure of the middle-class in the developed as well as developing countries has ensured unprecedented success of luxury brands in lingerie. In global terms, the purchasing behaviour of this demographic has made a transition away from the necessities and towards the discretionary brands in lingerie.
The approach of wide-ranging consumers has transformed drastically towards the global illustrious brands which are manufacturing undergarments. The manufacturers have tailored their marketing strategies to attract more customers and today brands like Agent Provocateur, Calvin Klein, Gucci, Dolce & Gabbana et al are correctly marketing undergarments as another essential garment in any given attire. Many customers are eagerly ignoring the price-tag, as they now focus on style quotient, comfort and fitting that only the luxury brands can promise. The contemporary undergarments include the conventional underclothing as well as bodysuits, kimonos and robes. These are all associated with elegance and magnetism.
The global lingerie industry occupies a market that is estimated to be over $ 30 billion. The market covers a variety of lingerie and intimate clothing, with bras representing over half of the overall market, briefs around 33 percent, and corsetry more than 10 percent. As per Global Industry Analysts, a significant shift this industry has witnessed is that the traditional approach towards the inner garments has changed and the fashion world is projecting undergarments as part of outerwear.
The average lingerie market is characterized by intense competition, following which, the luxury brands in this sector face the challenge of finding a more encouraging market globally. Some of the developed countries like the USA, where elderly population still dominates the shopping model; these luxury brands cannot find growth opportunities. The market here is stagnant. However, the lingerie industry in the USA is expanding globally, exploring fresh markets. Brands like Victoria's Secret have ensured to retain loyal customers.
The European market is leading the world in luxury lingerie, followed by Asia-Pacific. In India, the awareness about the plush brands in undergarments is on rise. Some of the luxurious lingerie brands are already competing against the domestic lingerie market in this part of the world. Amongst the key players in the global undergarment industry are Calvin Klein, LaSenza, DKNY, Enamor, Embry Form, Jockey, Victoria's Secret, Maniform, Wacoal Holdings, Gujin, La Perla, Armani, Wolford, Hanes, Fruit of the Loom, Etam, Chantelle and some others. A couple of years back, Victoria's Secret, a brand which is truly among the crme-de-la-crme lingerie brands, released a Diamond Fantasy Bra, the cost of which was evaluated to be somewhere around $ 2.5 million.
Among the major importers of luxury lingerie are Hong Kong, France, Brazil and Singapore. Hong Kong has long been regarded as a shoppers paradise and consumers here have a reputation to keenly adopt the expensive brands of international labels. Luxury brands in undergarments are accessible to consumers here, as they enjoy a high disposable income.
One of the main reasons of international lingerie brands gaining popularity is that these brands provide a professional cut with fine quality materials. These advantages can make wearing the undergarments more comfortable. The luxury brands also ensure that the size and fit are proper, thus enhancing the body shape. Nevertheless, these brands are still to gain popularity, as several consumers are not ready to shell out the extra money in exchange for comfort. Also, for consumers in developing countries, who like to flaunt the designer labels, following the newly acquired brand fixation, displaying designer brands in case of inner wear is not possible. So some consumers settle with more affordable generic brands.
However, today the luxury brands are manufacturing bras, briefs and panties in more comfortable materials. These materials can range from high quality cotton to lavish silks. The fabrics have moisture-absorbing and odour regulating properties. This apart, with superior fabrics, enhanced quality dyes are applied that do not noticeably fade on the first washes, which keeps the inner wear in mint condition for a longer period of time. The luxury brands are now highlighting these attributes, thus finding several consumers along the way. Style, evolving fashion trends and factors, such as novelty and comfort, are the main drivers of this industry. The changing tides have ensured that as the market becomes more and more sub-divided, the lingerie industry focuses more on building up consumers' brand recognition to earn a name in international market.
Today elegance includes the choice of undergarments beneath the outer attire. Though lingerie is veiled under the regular clothing but it can make one feel sophisticated and chic. Actually, there is nothing in this world that adds to the self-confidence of an individual more than a good pair of underpants and in case of females, ideal underpants combined with a supportive bra. This, and so much more is offered by luxury lingerie brands; consequently, all the customers need is a slight nudge in the right direction and they will not be hesitant then to invest in the perfect set of undergarments.