Lingerie has come a long way since the time it was considered a female tool of seduction and titillation.The global lingerie marketwas worth $78.7 billion in 2022, reinforcing demand worldwide. A study by the IMARC Group expects the market to reach $119.4 billion by 2028, growing at a compounded annual growth rate (CAGR) of 7 per centfrom 2023 to 2028.A similar study by Transparency Market Research, projects growth up to 2031 at $171.3 billion.

Societal change driving growth

The increasing inclination of consumers toward trendy intimate wear and sportswear is one of the key factors driving growth. In line with this, the widespread adoption of aggressive marketing and promotional activities on social media platforms for sensitizing and broadening the consumer base is considerably contributing to growth.

Rising product variations and escalating demand for wide-ranging seamless, brassieres briefs, and premium-quality branded lingerie amongst consumers, are propelling the market. Furthermore, increasing preference for lingerie products amongst male demographics, is positively stimulating the market. Apart from this, the collaboration of lingerie manufacturers with supermarket chains and multiple distributors for improving product portfolio is also a catalyst.

The advent of sustainable product variants is acting as a major growth-inducing factor. For instance, brands and leading companies are deploying environmentally-friendly production processes and using biodegradable materials to manufacture ecological lingerie sets that are gaining immense popularity, primarily due to the increasing environmental consciousness among the masses. Other factors, such as easy product availability through proliferating online platforms, attractive discounts and affordable price points offered by leading brands, and rising urbanization and purchasing power of consumers, especially in developing regions, are creating a positive outlook for the market further.Whilst the sudden outbreak of COVID-19 led to a shift in consumer preferences from conventional brick-and-mortar distribution channels towards online retail platforms for lingerie purchase, now, things are changing back to normal as customers are going back to physical stores.

Some major players in the global lingerie market include Fashion Nova LLC, Hanesbrands Inc., H & M Hennes & Mauritz AB, Hunkemöller International B.V., Jockey International Inc., MAS Holdings, PVH Corp., The Gap Inc., The Groupe Chantelle, Triumph International Ltd., Victoria’s Secret & Co., and Yandy Enterprises LLC.

Cotton-based, products have biggest market share

It is 2023 and as perreports on the weightage of distribution channel, the global lingerie market can be bifurcated into mass merchandizers, specialized stores, online stores, and others. Among these, mass merchandizers account for the majority market share. Based on prices, the global lingerie market has been segmented into economy and premium. Currently, economy price range makes up the largest market share. In terms of products, the global lingerie market has been divided into brassiere, knickers or panties, shape-wear, and others. Currently, brassiere has clear market dominance. When preferring material, the global lingerie market can be categorized into cotton, silk, satin, nylon, and others. Among these, cotton holds the majority of the global market share.

According to a report by the British Fashion Council's Institute of Positive Fashion, “Solving fashion’s product returns: How to keep value in a closed-loop system”, outlines a framework of recommendations to address the issue. The report highlights the need for the fashion industry to take immediate action to address the environmental impact of returns.

The fashion industry's push for free returns has contributed significantly to the UK's online return rate. Clothing, shoes, bags, and accessories were among the top three categories for online returns. However, the environmental costs of handling these returns are of greater concern in the long run.

Environmental damage due to emissions, energy

The report estimates that the UK fashion industry's returns generated about 750,000 tonnes of CO2 emissions in 2022, with transportation being the biggest contributor to emissions, accounting for almost 50% of total CO2 emissions.

The report also highlights the negative impact of the race for faster delivery times, which increases emissions due to smaller parcel sizes and more frequent delivery journeys. The energy required washing and iron returned items in the warehouse and excessive returns packaging, such as single-use plastic packaging and cardboard, are also contributing to the industry's environmental damage.

Although most fashion items can be resold after processing, approximately 3% of returns remain unsold. Of those unsold returns, more than 50% are sent to landfill and another 25% are incinerated, with only the remaining 25% being recycled.

The circular fashion ecosystem project of the British Fashion Council (BFC) estimates that dealing with returns cost the UK fashion industry at least £7 billion in 2022. This cost, coupled with the environmental impact, suggests that the industry is producing an unnecessarily high volume of clothing items. This production level, coupled with the average CO2 footprint of 19.5 tonnes per tonne of clothing for its whole lifetime, further exacerbates the environmental damage caused by the industry.

Closed-loop system can minimize waste

The industry needs to work towards a closed-loop system that minimizes waste and maximizes the value of returned products. Retailers and brands must consider alternative solutions to free returns, such as offering incentives for consumers to keep the products, thus reducing returns, and implementing sustainable packaging solutions.

It is crucial that the fashion industry take immediate steps to address the environmental impact of returns to mitigate the significant damage it is causing to the environment.

Two Chinese ultra-fast fashion companies, SHEIN and Temu, are battling in court in the US, with SHEIN's owner accusing Temu of "willfully and flagrantly" infringing its trademarks and copyright.

Roadget Business, which owns SHEIN's trademarks in the US, says Temu is boosting its own growth in the American market by "impersonating the SHEIN brand on social media, trading off the well-known SHEIN trademarks, and using copyrighted images owned by Roadget as part of its product listings."

The amended complaint, filed with the US District Court for the Northern District of Illinois, claims Temu launched its US online shopping site on 1 September 2022 and has engaged in unfair competition, including by using SHEIN trademarks in Twitter handles, using SHEIN copyrighted images on its own website, and providing influencers with false and misleading statements about SHEIN products in social media guidelines.

Bangladesh Apparel Exchange (BAE) organized the fourth edition of Sustainable Apparel Forum (SAF), which highlighted the importance of adopting a circular model to accelerate sustainability in the Bangladesh apparel industry.

The event had 60 renowned speakers and 20 exhibitors from across the world. The speakers discussed issues related to circularity, CO2 reductions, climate action, shifting to renewable energy, and human rights due diligence. The SAF also saw the launch of the project 'Closing the Loop on Textile Waste', funded by Partnering for Green Growth & the Global Goals 2030 (P4G), which aims to build a circular and inclusive textile value chain in Bangladesh and Kenya.

A roundtable discussion titled 'The Journey Towards Circular Fashion in Bangladesh' was also organized, where participants, including apparel and textile manufacturers, buyers, embassies, recyclers, and global organizations promoting sustainability, discussed how circularity can contribute to achieving the USD 100 billion export target of the Bangladesh apparel industry by 2030. The high-profile speakers at the event included ministers, ambassadors, managing directors of companies, and chairmen of parliamentary committees.

A recent survey conducted by the Federation of Malaysian Manufacturers (FMM) has revealed that only 11% of Malaysian manufacturers are utilizing both the Regional Comprehensive Economic Partnership (RCEP) and the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) agreements.

The survey also found that 77% of the respondents had not started utilizing these free trade agreements yet, with 41% citing a lack of information or policy direction on these FTAs. FMM has called on the government and trade associations to promote these agreements aggressively so that manufacturers can take advantage of the export opportunities they offer.

The survey also revealed that 55% of respondents faced an increase in their cost of production following the Bank Negara Malaysia's overnight policy rate hike in November 2022, affecting cash flow and business operations of 44% of manufacturers. Meanwhile, 24% of respondents were concerned about a possible change in consumer spending habits that could affect their sales and cash flow, and 20% had to reduce their capital expenditure.

In terms of the new unity government administration, 59% of respondents said it was too early to gauge the impact of any policy changes, while 33% responded favorably. However, most respondents (68%) hoped that the new government would gradually reduce corporate tax rates to improve Malaysia's tax competitiveness.

The global ethnic wear market is expected to reach $177.2 billion by 2031, growing at a CAGR of 7.2 per cent from 2022 to 2031, according to a new report published by Allied Market Research.

The report cites increasing demand for fusion wear globally, the emergence of mix-and-match styles, the availability of high-end brands, and the rising number of fashion influencers as prime determinants of growth.

Fusion wear and women’s ethnic wear hold the major share

While the traditional wear segment held the highest market share in 2021, accounting for more than three-fifths of the global ethnic wear market, the fusion wear segment is projected to manifest the highest CAGR of 7.8 per cent from 2022 to 2031. The women's segment is estimated to maintain its leadership status throughout the forecast period, accounting for more than half of the global ethnic wear market, while the kids segment is projected to manifest the highest CAGR of 8.0 per cent from 2022 to 2031.

Online growing faster than offline

The offline segment is projected to maintain its lead position during the forecast period, contributing to more than three-fifths of the global ethnic wear market, while the online segment is expected to portray the largest CAGR of 7.7 per cent from 2022 to 2031. However, the shift in consumer preferences towards online purchasing venues helped the market for ethnic wear grow and meet consumer demand during the pandemic.

Asia and within Asia, India highest contributor to ethnic market

Asia-Pacific held the highest market share in terms of revenue in 2021, accounting for nearly three-fifths of the global ethnic wear market, and is likely to dominate the market during the forecast period. India, which offers a vast variety of ethnic clothes, is one of the main contributors to the regional ethnic wear market. However, the LAMEA region is expected to witness the fastest CAGR of 8.5% from 2022 to 2031.

The global ethnic wear market presents new opportunities for growth in the coming years, driven by innovative designs and digital marketing, as well as the increasing popularity of traditional and fusion wear across the world.

A delegation from Vietnam recently visited Bangladesh to explore business opportunities and potential partnerships in the garment sector.

The aim of the meeting was to promote business-to-business connections and cooperation in the garment sector between the two countries. The discussions covered a range of topics including global apparel business trends, current challenges and potential opportunities for trade and investment. Both sides expressed a willingness to work together to tap into the trade potential between the two countries.

It is observed that Bangladesh and Vietnam are major players in the global apparel market and there is a huge scope for them to complement each other in order to derive two-way trade benefits.

Overall, the meeting was a positive step towards promoting cooperation in the garment sector between the two South Asian countries.

Zara's parent company, Inditex, reported a significant increase in store sales in 2022, despite closing 10% of its stores and shrinking its commercial space by 6%.

Increase in foot traffic contributed to the jump in sales, with sales per square meter now 16 per cent higher than in 2019. Zara, in particular, had a "remarkably strong year," with net sales increasing by 21 per cent compared to the year before.

To continue this growth, Inditex plans to invest 1.6 billion euros in expanding its stores and warehouses, including opening 10 new Zara stores in the US over the next two years and refurbishing or expanding 13 existing locations.

US is a key market for Inditex and has potential to provide a "significant" boost to the retailer's business long-term. Despite the long lines and overcrowded stores that Zara has become known for in the US, customers have continued to flock to the brand.

Inditex is planning to do away with hard security tags and introduce RFID chips sewn into garments to reduce checkout times by 50 per cent.

TikTok is helping fashion brands tap into Generation Z audiences by using sample sales to clear excess stock and build communities.

Content creators on the platform, such as stylist and content creator Seun Ogunsola, have helped to popularise sample sales by sharing DIY hacks, thrifting tips and sample sale experiences.

The trend has reached beyond its original fashion insider audience, with over 80 million views linked to sample sales on TikTok. The Box, a sample sale platform in London, has seen uplift in younger consumers, including people aged 20 to 25. Brands such as Max Mara and Shrimps have invited influencers to attend their sample sales and share content on social media. Sample sales are also providing useful insights for brands, such as understanding more about customers and identifying which pieces attract younger audiences.

The global clothing recycling market is expected to be valued at US$ 5.8 million in 2022, according to Future Market Insights. However, the market is projected to grow at a compound annual growth rate (CAGR) of 10.7 per cent through 2032, reaching an anticipated valuation of US$ 16 billion.

Sustainability is a key trend driving the demand for clothing recycling, as consumers and companies alike become more aware of the environmental impact of fast fashion and the importance of circularity. As a result, companies in the clothing recycling industry are launching awareness campaigns to educate the public about the pollution and landfill waste caused by textile waste.

The retail sector is expected to remain a major revenue-generating channel for the clothing recycling market due to the heavy reliance on textiles within the sector. Additionally, the automotive industry is seen as a promising opportunity for recycled textiles, as aesthetics become a key driver for using recycled materials to reduce overhead costs.

The report also highlights that recycled polyester, known for its durability and strength, is likely to remain the preferred recycled clothing type during the forecast period. Asia Pacific is expected to be the fastest-growing region, while Europe clothing recycling market is likely to hold a share of 26 per cent, the largest at the global level.