Intimate Wear Market in China 2017-2021
About Intimate Wear Market in China
Intimate wear is one of the key segments in the Chinese female apparel market. It comprises a variety of garments like undergarments, sleepwear, and loungewear. Based on pricing, the market can be segmented as mass-market and premium-market. The global women apparel market has been registering a steady growth, mainly due to the increase in the working-women population, coupled with the changing lifestyle in emerging regions. As a result, there is a rise in the average expenditure on apparels by women across all age groups. With women becoming increasingly fashion conscious, there is a rise in the purchase of clothes that are specific to occasions.
Technavio’s analysts forecast the intimate wear market in China to grow at a CAGR of 14.63% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the intimate wear market in China for 2017-2021. To calculate the market size, the report considers the revenues generated from online retail, and brick and mortar stores sales generated by vendors in the market.Technavio's report, Intimate Wear Market in China 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
Technavio Announces the Publication of its Research Report – Intimate Wear Market in China 2017-2021
Technavio recognizes the following companies as the key players in the intimate wear market in China: Aimer, Cosmo Lady, Embry Group, and Huijie Group.
Other Prominent Vendors in the market are: Victoria's Secret Stores, LLC., Foshan Casland Garments Co., Ltd, La Perla, Triumph International, Wacoal, Xiamen Hexin Fashion Company, Xiamen Channel Underwear Company, and Uniqlo.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is presence of established domestic manufacturers. Cities like Shanghai and Shenzhen have become fashion hubs in China. Shenzhen, in particular, is a podium for most domestic and foreign intimate wear companies. Many renowned companies have established their base in Shenzhen and Shanghai. With the increasing business and economic expansion, all leading brands are gradually establishing their production and warehouse facilities in these regions in China. This would give rise to manufacturing hubs of intimate wear in each region and reduce supply chain complexities for manufacturers and dealers. Even for foreign entrants, these cities will prove beneficial with respect to raw materials and supply chain.”
According to the report, one of the major drivers for this market is rise in expenditure. Earlier, innerwear was considered a necessity. However, changing trends have transformed the idea of innerwear to more than just a necessity. Nowadays, most women prefer comfortable bras, sleepwear, or knickers with attractive designs. This led to the demand of trendy innerwear, without compromising on the comfort level. Many vendors in China are creating intimate wears as per customer demand.
Further, the report states that one of the major factors hindering the growth of this market is intense vendor competition. The wide range of products, designs, and price has led to an intense competition in the intimate wear market. This is because different vendors are offering the same product at different prices and offerings. To be the leading player is a challenge as there is not much product differentiation or variation.
Aimer, Cosmo Lady, Embry Group, Huijie Group, Victoria's Secret Stores, LLC., Foshan Casland Garments Co., Ltd, La Perla, Triumph International, Wacoal, Xiamen Hexin Fashion Company, Xiamen Channel Underwear Company, and Uniqlo.
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