Inaugurating the 4th edition of India’s Largest Trade Show for Intimate Wear- INTIMASIA Kolkata, the Chief Guest of this Exhibition Mr. K.B. Agarwala – Managing Director of Rupa& Company and President of Federation of Hosiery Manufacturers’ Associations of India (FOHMA)stressed upon the fact that financial empowerment of Indian women and their demand for innovative products are the major growth drivers for Indian Intimate-Wear Industry.
Along with Mr. K.B. Agarwala, the inaugural ceremony was attended by the organizer Mr. Yusuf Dohadwala, CEO of Intimate Apparel Association of India (IAAI), Mr. Manohar Samuel, Senior President – Marketing, Grasim Industries, amongst others.
According to Mr. K. B. Agarwala “The rise in number of working women, their increased purchasing power and demand for innovative products have shored up the trendy collections space. All these are contributing significantly to the growth of the Indian Intimate-Wear Industry. The Women’s innerwear segment has been on an upward trajectory and expected to grow at a CAGR of 12% to reach Rs. 56,364 Cr by 2027. Whereas the Men’s segment is currently estimated at Rs. 9,477 Cr and expected to grow at a CAGR of 7% to reach Rs. 17,894 Cr by 2027”. The overall Indian Innerwear market is estimated to grow at 13% to reach Rs. 68,270 Cr. by 2024.
With customers looking for innovative designs, innerwear has become a fashion statement today. Over the years, Indian customers have witnessed a great influx of domestic and international western wear brands and the increasing awareness level of the customers is pushing it to a great advancement.
Mr. Agarwala also said that “The growth of innerwear category is primarily centered around urban India with 43% of the market spread across metros, mini metros, Tier- I and Tier II cities.I believe, in the days to come, innerwear will no longer be bought as an after-thought”.
He hoped that this fourth edition of INTIMASIA in Kolkata would provide an entry point for the emerging North Eastern markets and other parts of South East Asia. It would also serve as an eye-opener for interested players to explore the upcoming North Eastern region – which has become a market for premium products.