Lingerie Retail a niche retail market in India has bucked the trend of slowdown and is seeing rising sales. Triumph, etam and others who dared to venture into this niche to pamper the smart and hardworking Indian women are laughing their way to the banks. Triumph which launched in 2002 priced its SKUs between Rs 200 and Rs 450. They have now marked up their pricing to s 200 and can get as expensive as Rs 3,000 a piece. Triumph’s best selling range is between Rs 1100 and Rs 1400.
Triumph which has rich experience of retailing woman’s lingerie, corsets, intimates, sheer, thongs, sleepwear hasn’t even launched its Luxury collection yet. However, the company tested waters with limited edition bra’s using Swarovski crystal’s priced at USD 1,000 a piece.
The main consumers for upper end Lingerie in India are woman aged between 25 and 35. Organized retail size of this market is expected to be INR 1000 cr of which Triumph is the leading brand in India.
Another retailer sizzling on the success of lingerie and intimate-wear retail is Shoppers Stop. The company has seen its sales rise by whopping 36% in 2007-08 and 20% last year. Average price has moved up from Rs 278 to Rs 409 in the past 3 years.
Sure the Indian woman is lucky enough as Managers @ Victoria’s Secret, Frederick’s of Hollywood, etc will come looking to pamper the Indian woman with world’s best. Will they face a challenge from Desi retailers ?