MANUFACTURING
Intimates Market in China Poised for Growth
The intimate apparel market in China is expected to increase 17.99 percent between 2014 and 2019 as the consumer shifts from basics to fashion lingerie, according to a recent report.
“Globalization has had a huge effect on the fashion industry in China,” said Faisal Ghaus, vice president of TechNavio, which recently released a market-research report on China’s intimate apparel market in China. “The young female population is investing significant amounts of time and money to stay up-to-date with the latest fashion trends, which directly impact the intimate-wear market in China.”
The report found that while basic intimate items continue to be popular with Chinese consumers, they are looking for a wider range of offerings, including fashion intimates, thermals and loungewear.
“Though consumers will spend on purchasing new types of products, at the same time they will show growing interest for ‘bare necessity’ products as the market is expecting the emergence of new trends with respect to fabric and design.”
Furthermore, the report finds that the Chinese domestic market is preparing for “fierce competition with increased threat from foreign companies.”
London-based TechNavio is a research and advisory company that employs about 200 analysts globally and covers more than 500 technologies across 80 countries.
