New Delhi: Global lingerie brands like Benetton and Etam have chalked out plans to tap the Rs3,800- crore Indian market, which is currently growing at 12% and is expected to touch Rs6,700 crore by 2011.
To cater to the changing needs of the fashion conscious Indian damsels, Benetton will shortly launch its inner wear brand Undercolours - in the country with the opening of its stores.
“The market estimates indicate that the premium lingerie segment will do well in the urban areas. Our Undercolours range will comprise innerwear, nightwear and swimwear for women,” Benetton India Managing Director Sanjeev Mohanty told PTI.
He said since Benetton has been in the country for over 16 years now, it has an advantage of cornering strategic retail spaces for the brand. The promotion campaign would focus on visual merchandising and large format retail stores.
Straps’ Managing Director Adish Oswal said: “ Delhi and NCR are the biggest markets currently, but cities like Pune, Kolkata, Amritsar and Rajkot are also picking up fast.”
According to Technopak estimates, the current market size stands at Rs3,800 crore, is growing at a rate 12% by which it is expected to touch Rs6,700 crore by 2011.
The market is largely dominated by domestic players like Sonari, Goversons, Vajolet, Red Rose, Underlines, Chic, Daisy Dee. International brands currently present in India includes Jockey, Lovable, Triumph, Vanity Fair, Liberti and Bodyline.
Straps which has around 20 stores in India, of which 11 are located in Delhi and NCR, is planning to double the number of stores by March next year.