How two Ghaziabad-based lingerie and hosiery manufacturers are making big …
September 7, 2012 by admin
Filed under Latest Lingerie News
GHAZIABAD: Eugene Chapus once said, “A woman in a corset is a lie, a falsehood, a fiction, but for us, this fiction is better than the reality.” It has, in fact, become a reality with lingerie gaining immense popularity in India and the National Capital Region (NCR).
Two Ghaziabad-based companies, which currently manufacture lingerie and hosiery, have made it big both in India and abroad.
Rajnish Bansal, proprietor of Mangli Hosiery, based out of Ghaziabad has not only carved a niche market for itself in NCR but has also made it to the Limca Book of Records for having 22,000 varieties of intimate wear collection – the highest number till date. Bansal said, “We manufacture lingerie for women and vests and briefs for men, and supply it to clients based out of Gurgaon and Delhi.” Mangli Hosiery has an average turnover of Rs 6 crore to Rs 7 crore and Bansal has five other such companies.
Similarly, Sona Lingerie based out of Sahibabad Industrial area that manufactures a wide range of moulded patterns, fancy sets cotton bras etc. has around 60-70 showrooms across North India and six showrooms in Ghaziabad itself. “Our USP is manufacturing good quality products. Every need of our customers is our priority. Products are made with 100 percent combed cotton fabrics that make customers feel comfortable. With the increase in demand for our products, we are striving to deliver best quality goods,” said Prateek Gupta, director of Sona Lingerie. He added that Sona Lingerie has managed to clock an annual turnover of Rs 15 crore. They did it with a workforce of only six people, which varies according to market demand.
MARKET SIZE
Talking about market for this business, Bansal said, “There is great potential for our business. The intimate wear market in Ghaziabad is more competitive than Delhi as there are more players here and the market is worth Rs 10 crore to Rs 12 crore.”
According to accounting firm Ernst Young, the Indian lingerie and nightwear market was valued at about $2 billion in 2011 and is expected to grow at CAGR of about 15 percent till 2015. The market is largely unorganised, with organised players accounting for less than a third of the market.
Bansal informed, “At present, the lingerie and hosiery market in India comes under the home industry. There are mostly unorganised players. For instance, in Old Delhi, families keep three to four sewing machines and stitch lingerie.” He added that undergarments are worn by all – rich and poor, hence, this market has a huge potential.”
A Mc Kinsey report suggests that consumers worldwide typically spend an average of five-six percent of total income on apparels; but the figure is significantly higher in emerging markets. Reports say that over the next 20 years, population in Indian cities will grow by 300 million. Urban dwelling will give rise to aspirations and need for new fashions and styles to meet their lifestyle.
