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Women’s lingerie brand — Clovia, is looking to expand its product portfolio by rolling out maternity wear and a gym and athleisure range.
According to Pankaj Vermani, founder and CEO, Clovia, plans are on to expand its footprint across the country, both through offline stores and by strengthening presence on the online platform.
“Women’s lingerie is a huge segment and we have just scratched the surface. We recently launched a range for teenage girls and the response has been good. We are looking to roll out maternity wear and athleisure,” Vermani told BusinessLine .
The company has already conducted a test run of its gym and athleisure range, and is looking for the commercial launch soon.
Clovia, which sells majority of its products through online platform, claims to be shipping close to 600,000 pieces a month.
Offline now accounts for around 15-20 per cent of its total sales, while the balance 80 per cent happens online. The company has around 15 exclusive stores in around 250 touch points, including multi-brand outlets and shop-in-shops. It plans to take its exclusive store count to 30 and add another 200 touch points this year.
The company, which has a reasonably well-entrenched presence in the northern and western markets, is looking to tap the southern and eastern markets for geographical diversification.
Growing demand
The women’s innerwear market in India is estimated to be close to $5 billion, (about ₹35,000 crore) and is largely dominated by unorganised or regional players. While regional players account for nearly 55 per cent of the total market, organised national players make up the balance 45 per cent.
“The women’s apparel industry has been growing at 8-9 per cent and the innerwear segment by 15-22 per cent, on an annualised basis. The market is still nascent and largely dominated by unorganised players,” he said.
The premium segment, priced at around ₹ 600-1,500 a unit, accounts for nearly 30 per cent of the total lingerie market; the medium category (priced between ₹ 200 and ₹600 a unit) accounts for 20 per cent, while the remaining comprises the economy segment, which is priced below ₹ 200 a unit.
The demand for premium and super-premium products has been growing steadily. The medium segment has also been witnessing a good growth and is fast evolving into the premium segment, he said.
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