Myntra sees 300% growth in lingerie and loungewear category in 2020, Retail News, ET Retail

New Delhi: On the web vogue company Myntra has witnessed a history 300 per cent growth in 2020 around previous year in the lingerie and loungewear segment amid the pandemic with greater growth fueled by demand from customers from metros and tier II and III metropolitan areas, the company mentioned. The company feels this segment will gather a lot more steam in 2021.

According to the company, the category is predicted to see an amplified demand from customers for the duration of Myntra’s EORS party, reaching one.two million buyers from throughout the regions. Myntra’s flagship sale party will be held amongst July three and July 8.

“The idea of ‘work from home’ backed by the ease and comfort of a ‘discrete delivery’ selection, has drawn a lot more desire from buyers towards this segment on Myntra, throughout massive metropolitan areas and compact cities, alike, with tier two and three markets contributing about 40% to the growth of the segment and having a drastically greater growth fee,” the company mentioned.

The category has continued to witness powerful growth for the duration of the months of April and May well this year, inspite of the severe 2nd wave of the pandemic, the e-tailer mentioned. The category, regarded as an crucial, grew at 200 per cent year-on-year for the duration of this period of time.

Myntra at present homes around 30,000 variations, from about 200 foremost manufacturers in the Lingerie and Loungewear category, with foremost manufacturers remaining Enamor, Amante, La Senza, Triumph, Dressberry and Marks & Spencer, amongst others.

About sixty per cent of the demand from customers in the segment is presently produced by metro and tier one markets, whilst tier two and three markets have a drastically greater growth fee.

“Lingerie and loungewear is an rising category with a powerful contribution to Myntra’s growth. Our broad array of manufacturers, options and variations, have driven reliable momentum for the duration of the pandemic, along with things such as perform from household and an attitudinal adjust in youthful women, in particular from regions other than metros and tier-one metropolitan areas. Even though loungewear carries on to witness growth like the past year, a enjoyable surprise has been the bouncing back of swimwear and shapewear. We are aiming to have a lot more than 250 manufacturers in the lingerie and loungewear segment by the conclusion of the year, with a superior blend of domestic and international manufacturers,” mentioned Ayyappan Rajagopal, main business officer at Myntra