Business Of Fashion Magazine - September 2022

In this issue

The fashion industry has undergone many a change over the past couple of years. Whether influenced by the pandemic or driven by the growing propensity among Indians to spend, fashion is forever being turned on its head. The latest to be at the centre of this ever-evolving segment is innerwear. Once overlooked as a mere commodity, innerwear is now viewed as a fashion statement. Whether working out at the gym or playing in a sport, attending a wedding or simply dining out with friends, more and more consumers are opting for innerwear that they feel serves the purpose. Hygiene conscious and always looking to be comfortable in what they wear, consumers today are driving the need for innovation in design, fabric and technology in innerwear.
This burgeoning demand has also led to the birth of several domestic innerwear brands that are slowly transforming this once-unorganised sector into a more organised one. A report by Technopak Advisors suggests that the Indian innerwear market, once valued at `19,950 crore, is estimated to grow at 13 per cent to reach `68,270 crore by 2024. Men’s innerwear market, in particular, is expected to grow at a CAGR of 7% over the next few years to reach `218 billion by 2028. Innerwear, thus, is turning out to be a lucrative investment; maybe even an apt candidate for virtual try-ons in the metaverse.