The total UK lingerie market, which includes corsetry, lingerie and hosiery, was worth £2.48bn at retail selling prices (rsp) in 2006
Press Release Body = Lingerie - Market Report
Executive Summary
The total UK lingerie market, which includes corsetry, lingerie and hosiery, was worth £2.48bn at retail selling prices (rsp) in 2006. This resulted from a growth of 13.3% since 2002 in current terms, for a market that, while dynamic, has been subject to the deflationary pressure of fierce, discount-led competition in the retail marketplace.
Both the lingerie and corsetry sectors performed strongly over the review period (from 2002 to 2006) - with the latter now being the biggest sector, and also seeing the highest rises in value. In a period when an increasing number of women are taking at least a D-cup brassiere (bra) size, the importance of good-quality, well-fitting bras has been growing considerably. The lingerie sector has also performed well, fuelled by the rising level of interest in lingerie as fashion items, not just as staple garments. The trend for innerwear that is intended to be worn to be seen - such as camisoles and vests, for instance - has supported this sector.
However, the hosiery sector experienced declines in value between 2002 and 2006. Here the volume-led strategies of the supermarkets, which sell tights for as little as £1.50 for five pairs, have had a significant impact on sales. In the hosiery sector, as well as in the other sectors of the lingerie market, the brands have had to respond to this highly competitive performance on the part of the own-label segment. Largely, the brands have succeeded in doing so, and many manufacturers and retailers of branded underwear reported strong sales rises in 2005/2006 through dynamic product innovation and clear differentiation from own-label goods.
Despite this, the own-label segment is strengthening its hold. As well as a much improved product range from the major retailer, Marks & Spencer (which accounts for around 30% of sales of women\'s underwear), the high street generally has started to take lingerie seriously as an area for development and competitive focus. The discount retailers (Matalan, Primark and others), as well as high-street fashion retailers (such as New Look and Next), have all increased pressure on the market for good-quality but, nevertheless, low-priced lingerie garments.
The total corsetry, lingerie and hosiery market is forecast to grow to around £2.9bn at rsp over the next 5 years (from 2007 to 2011). The global market is dominated by cheap overseas production, and this will continue to have an impact on the stable but slow-growing lingerie market in the UK.
2012
