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MARKET OVERVIEW

1.1 Definition and scope of study

The term lingerie is used in fashion to refer to women's underwear. Broadly speaking, we can divide lingerie into the following components:

  • bras: can be triangle, balconette, bralette, etc..
  • bodices: in the form of bustier, guepier, and many others
  • briefs: classic, culotte, thongs
  • home lingerie: such as baby doll, chemise, kimono
  • stockings: pantyhose, hold-ups, over-the-knee etc.

The global market for women's underwear in 2018 reached $29.9 billion, with a growth forecast between now and 2025 of 7.5% per year.

Italy has traditionally been one of the leaders in this market, which has a turnover of several billion euros, with over 16 million loyal customers and a growth potential of 10 million users. This margin, however, is in danger of being compromised, on the one hand by the difficulties that have arisen in the sector due to the Covid-19 pandemic, and on the other by the set of start-ups and digital groups that are taking advantage of innovation to enter the market.

Business is in fact growing, but Italian brands are struggling to take advantage of the increased demand. This is due to the fact that 76% of their exports go to Europe, a market area that has not been very positive lately. In fact, the industry's turnover in 2018 saw a 1% contraction year-on-year (-2.5% Italian fashion as a whole). In order to maintain this market-leading position, the sector needs to be entirely rethought with a view to digital transformation, which predisposes complementarity in every step of production.

The Italian underwear market is characterized by a polarization in terms of segmentation: on the one hand fast fashion, represented by single-brand store chains, and on the other hand luxury, with the most expensive and sophisticated brands. Chains now cover 37.8% of the domestic market, followed by independents, with 17.9%.

In terms of emerging trends, comfort, inclusivity and body positivity stand out, concepts that are pushing the big international brands, such as Victoria Secret, to invest in research in the field of wearability and new beauty icons. Major players in the market include Calzedonia, Intimissimi, Tezenis, Victoria Secret, Yamamay, Oysho, La Perla and Agent Provocateur.

1.2 Global Market Analysis

The global market for lingerie was estimated at around USD **.* billion in ****, and it is expected to reach approximately USD **.** billion in ****, growing at a CAGR of nearly *.**% during the forecasted period (***) [***]. In particular, lingerie is a category of women's clothing characterized by an appealing and fashionable appearance, representing at the ...

1.3 The Italian Market for Lingerie

That of lingerie is just one of the numerous markets which are considered to be an expression of the so-called Made in Italy. Indeed, Italy is a great produced of lingerie, and the sector under analysis has always been highly fragmented in terms of production structure: on one hand, in Northern ...

1.4 Import and Export Analysis

Given the absence of a specific code for the broad lingerie market - including all the products which can be related to such a category, for both men and women - we built the import and export analysis adding together the value of the trades associated with the following categories:

**.** ...

1.5 Covid-19 Impact

According to the International Labour Organization (***), the global health crisis caused by the impact of Covid-** has been one of the worst moments in the history of human suffering, global economy damages, and disruption of people's lives. The pandemic had a huge impact on all social and economic sectors, including those ...

ANALYSIS OF THE DEMAND

2.1 Demand Overview

According to a survey conducted on the Italian population in **** [***], the expense of Italian people for lingerie products turns out to be one of the lowest expenditures undertook every year. Around **.*% of the respondents admitted spending no more than ** Euros per month for lingerie, while **.*% of them remains between ** and ** Euros ...

2.2 Demand Drivers

To understand the main drivers of the demand of lingerie, it is worth considering the preferences of Italian people related to the purchase of goods, the sort of experience they look for, and the sort of consumption model they apply when making a purchase choice. According to La Repubblica, the store ...

2.3 New Trends in Demand

As explained in the previous section, the number of customers exploiting online platforms to shop and find relevant information or reviews related to the product of their interest is rapidly increasing. Dealing with the lingerie market, the time when such products were the prerogative of embroiderers and seamstresses who made it ...

MARKET STRUCTURE

3.1 Structure and Dynamics of the Market: Production

In the analysis of the Italian market for lingerie, it is worth to distinguish between production and distribution of such a category of products in order to completely assess the potential and the dynamics of the market. In particular, dealing with production, we can refer to code ATECO **.** - production of ...

3.2 Structure and Dynamics of the Market: Distribution

From the distribution perspective, the analysis of the Italian market for lingerie can be carried out relying on the data associated with ATECO code **.**.** - retail sales of personal underwear, knitwear, nightshirts. Regarding the total number of entities available in the Italian market in the period ****-****, the graph below shows ...

3.3 Value Chain - Distribution

[***]

3.4 Main Players

The main players of the Italian market of lingerie are Calzedonia Group (***), Yamamay, La Perla, Oysho, and Victoria's Secret. Among these, Calzedonia Group owns a market share of **% in Italy. Founded in **** by Sandro Veronesi, Calzedonia Group initially developed under the franchise model. According to a publication of Mediobanca, in **** the ...

ANALYSIS OF THE OFFER

4.1 Typology of the Offer

The table below provides a non-exhaustive overview of the types of products that make up the lingerie market in Italy. 

The lingerie market is divided into four categories: corsetry, day lingerie, night lingerie and hosiery.

Source: ****

4.2 Pricing

To evaluate the pricing of the products belonging to the lingerie sector, it is worth considering the consumer price indexes associated with the following:

ECOICOP ******: underwear and socks man; ECOICOP ******: underwear and socks woman.

The following graphs show the trend of the indexes abovementioned. By comparing them, it is possible to ...

REGULATION

5.1 Regulatory Framework

The textile and clothing sector is governed by EU Regulation No.****/**** [***], which lays down rules on:

The names of textile fibres, the methods of labelling textile products, as well as the indications appearing on labels, markings and documents accompanying textile products in the various cycles of production, processing and distribution; The ...

POSITIONING OF THE ACTORS

6.1 Segmentation

  • Calzedonia
  • La perla
  • Yamamay
  • Victoria's Secret
  • Oysho
  • Agent Provocateur

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Reviews (2)

The lingerie market - France

Publicado en 22/09/2022 by MELANIE ENAULT

Merci pour cette étude, elle est vraiment très détaillée. Pourriez-vous la compléter par la partie du "sur mesure" ? Y a t-il assez d'analyses réalisées pour le permettre ? Sur tout le reste de l'étude je suis très satisfaite, merci encore.


Businesscoot Response:

Merci infiniment Mélanie pour votre avis qui nous est précieux! À présent, nos analystes vont mettre à jour l'étude en tenant compte de vos remarques, et nous vous enverrons gratuitement la nouvelle version.

The lingerie market - France

Publicado en 03/01/2022 by Hugo Schott - Businesscoot

Excellent and comprehensive study. Very detailed analysis of market trends and consumer behavior


Businesscoot Response:

Hello Hugo, Thank you for your feedback and we are delighted that this study has given you a good overview of the market.