Businessmen are also always on the lookout for an untapped market to build their business empires on. One such business is the women's lingerie market. Read on...
Today’s customer is quite advanced in thoughts and is aware of the usage of technology, of the choices he/she has, as well as where he/she can invest to get the maximum value of money. Businessmen are also always on the lookout for an untapped market to build their business empires on.
One such business is the women’s innerwear market, which was underserved for a very long time, especially for the taboos and misconception surrounding it. Now, a lot of players are working towards this unorganized market and one such brand is Parfait.
Parfait a US-based size-inclusive lingerie and swimwear brand, dedicated to helping women find the perfect fit. Founded in 2005, Parfait is headquartered in Los Angeles, CA, with their regional presence in the United Kingdom and Canada. The brand is represented in more than 700 stores and online stores worldwide and is continuously growing. The brand commenced its journey in India in the year 2018 with a vision to become a leading plus size lingerie brand and a mission to help Indian women find their perfect fit by establishing an opportunity to serve India’s underserved plus-size market.
India’s Underserved Lingerie Market
According to the reports of Business Wire, the Indian lingerie industry is seeing a growth that is unparalleled. It has undergone a transformational change in the past few years due to the availability of brands, changing technology, changing consumer behavior and increased awareness. The Indian lingerie market is growing at a high rate of 16% and is sized at $3Bn.
In an interaction with Franchise India, Akhil Srivastava, India Managing Director, Parfait Lingerie, says, “There is extreme ignorance that prevails among women when it comes to buying lingerie. Most women don’t know their correct sizes and usually buy that is uncomfortable and unappealing. As per research, 80% of women in the USA wear the wrong bra size while for India, the numbers stand at a disappointing 90%. We aim to bridge this gap with Parfait.”
Targeting only Plus Size Customers
Akhil says “There is hardly any brand, that targets the plus-size customers and they end up buying uncomfortable, wrong sized bras, which can ultimately affect their health. We have noticed this in countries like Europe, Canada and majorly in India, which is why we felt that we need to cater to this category only. Also, there is a lack of knowledge and awareness in India about the kind of bras women should wear to avoid health issues.
“There is a huge gap in terms of size and comfort & what is required and needed by plus size women to feel self-empowered and confident. The outlet for plus size intimate apparel purchases in India is much more limited than markets of other sizes. While there are mass merchandisers and discount stores offering products but only at lower quality and with limited sizes. Parfait lingerie will cater to this underserved plus-size market with stylish and supportive pieces.”
Expansion in India
Akhil adds, “Parfait entered India about a few months back and we already have our shop in shops (SIS) with notable retailers like Project Eve, Jashn, Revoluzion Plus, Amydus, etc. across metros and non-metro markets. We are in talks with retailers like Lifestyle, Central and Parfait Shoppers Stop to take our SIS count to 150 in another 2-3 months. We will also debut into our EBO journey soon with a store at Ambience Mall, Vasant Kunj, in Delhi.”