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Gcc Luxury Lingerie Market

Gcc Luxury Lingerie Market

GCC Luxury Lingerie Market, By Product (Bra, Knickers & Panties, Body Suit, Leg Garters); By Distribution Channel (Online, Offline), Trend Analysis, Competitive Landscape & Forecast, 2019–2029

  • Published Date: September 2023
  • Report ID: BWC23724
  • Available Format: PDF
  • Page: 200

Report Overview

An increasing demand for comfortable and stylish lingerie and growing popularity of online shopping for lingerie are projected to propel the expansion of the GCC luxury lingerie market during the forecast period between 2023 and 2029.

GCC Luxury Lingerie Market - Industry Trends & Forecast Report, 2029

GCC luxury lingerie market size was estimated at USD 346 million in 2022. During the forecast period between 2023 and 2029, the size of GCC luxury lingerie market is projected to grow at a CAGR of 8.77% reaching a value of USD 573 million by 2029. Major growth drivers for the GCC luxury lingerie market include the rising disposable incomes, changing lifestyles, increasing fashion consciousness, and a surging demand for premium intimate wear have all played pivotal roles in this expansion. These factors have collectively shaped the preferences of consumers in GCC countries, reflecting a blend of traditional values and modern trends. This consumer landscape has led to a robust demand for high-quality materials, intricate designs, and renowned luxury brands. In response to this demand, internationally recognized luxury lingerie brands such as Victoria's Secret, La Perla, Agent Provocateur, and others have established a strong presence across major cities and upscale shopping malls within the GCC region. Furthermore, a noteworthy trend has emerged with the rise of local and regional luxury lingerie brands. These brands have strategically positioned themselves to cater not only to prevalent preferences but also to cultural sensitivities, ensuring a tailored and resonant offering for the market. In tandem with these developments, the market has been undergoing a significant transformation, with a shift towards inclusivity and diversity. Luxury lingerie brands have been proactively expanding their offerings to encompass a broader range of sizes and styles. This approach acknowledges and accommodates various body types and preferences, appealing to a wider spectrum of consumers.

GCC Luxury Lingerie Market

GCC Luxury Lingerie Market – Overview

GCC luxury lingerie market encompasses the production, distribution, and consumption of high-end intimate apparel in Gulf Cooperation Council (GCC) countries. This market emphasizes luxury lingerie featuring exquisite materials, intricate designs, and brand prestige. The region includes Saudi Arabia, UAE, Kuwait, Qatar, Bahrain, and Oman. The market's growth is driven by rising disposable incomes, evolving consumer lifestyles, fashion awareness, and a desire for sophisticated undergarments. Established international brands like Victoria's Secret, La Perla, and Agent Provocateur have a strong presence, alongside emerging local brands catering to cultural preferences. Inclusivity and diversity trends are evident as brands expand to accommodate diverse body shapes. Fashion events in GCC countries serve as platforms for global and local luxury lingerie brands, fostering innovation.

GCC Luxury Lingerie Market

Growth Drivers

Growing Popularity of Online Shopping for Lingerie

As consumers increasingly embrace digital platforms for their shopping needs, the luxury lingerie segment within Gulf Cooperation Council (GCC) countries has experienced a transformative shift. Online shopping offers convenience, privacy, and an extensive range of options, aligning well with the intimate and personalized nature of lingerie purchases. This trend has not only expanded the market's reach but has also facilitated access to international luxury brands and boutique offerings, transcending geographical limitations. The convergence of luxury, technology, and consumer preferences through online channels has opened up new avenues for growth in the GCC Luxury Lingerie Market, redefining how consumers interact with and experience premium intimate wear.

Restraints

Limited Availability

The growth of the GCC Luxury Lingerie Market is hindered by limited availability, constraining consumer access to premium intimate apparel.

Impact of COVID-19 on GCC Luxury Lingerie Market

COVID-19 pandemic adversely affected the GCC luxury lingerie market. Lockdowns, travel restrictions, and economic uncertainties disrupted consumer spending patterns, leading to decreased demand for non-essential items like luxury lingerie. Physical store closures hindered sales, prompting a shift towards e-commerce. However, as events and social gatherings were curtailed, the demand for occasion-specific lingerie declined. Brands adapted by focusing on comfort and online engagement. While the market faced challenges, the resilient nature of luxury retail, coupled with digital strategies, gradually aided recovery, with consumer preferences evolving to align with the pandemic's lifestyle changes.

GCC Luxury Lingerie Market

Segmental Coverage

GCC Luxury Lingerie Market – By Product

By product, the GCC luxury lingerie market is divided into Bra, Knickers & Panties, Body Suit, and Leg Garters segments. The bra segment holds the highest share in the GCC luxury lingerie market during the forecast period by product. Bras are considered essential undergarments, and they form the foundation of a woman's wardrobe. This consistent demand for daily wear contributes to a stable market share. The bras come in various styles, catering to both comfort and aesthetics, enabling brands to tap into diverse consumer preferences. Also, as cultural norms in the GCC region emphasize modesty, bras often serve as a balance between intimate wear and cultural values. This combination of necessity, diversity, and cultural relevance positions the bra segment as a dominant force in the luxury lingerie market across the forecast period.

GCC Luxury Lingerie Market – By Distribution Channel

Based on distribution channel, the GCC luxury lingerie market is bifurcated into Online and Offline segments. The online segment hold a higher market share during the forecast period by distribution channel due to evolving consumer behaviors and convenience. The digital landscape offers a discreet and accessible platform for intimate apparel shopping, aligning with cultural sensitivities. The surge in e-commerce is driven by changing lifestyles, tech-savvy consumers, and the pandemic's impact, pushing luxury lingerie brands to enhance their online presence. Virtual try-ons, easy returns, and a broader product range overcome limitations of physical stores. These factors converge to elevate the online segment as the preferred choice, reflecting a lasting shift in shopping habits across the GCC region.

GCC Luxury Lingerie Market Size

Competitive Landscape

Major players operating in the GCC luxury lingerie market include Victoria's Secret, Agent Provocateur, La Perla, Chantelle, Wolford, Aubade, Simone Pérèle, and Empreinte. To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.

Recent Developments

  • In November 2022 - Jockey International Inc. unveiled the inauguration of its tenth distinctive brand outlet in the UAE. This event marked a notable achievement within the chain of exclusive Jockey stores, a journey that commenced with the inaugural store's establishment in 2014.

Scope of the Report

Attributes

Details

Years Considered

Historical Data – 2019–2022

Base Year – 2022

Estimated Year – 2023

Forecast Period – 2023–2029

Facts Covered

Revenue in USD Million

Market Coverage

GCC

Product/ Service Segmentation

Product, Distribution Channel

Key Players

Victoria's Secret, Agent Provocateur, La Perla, Chantelle, Wolford, Aubade, Simone Pérèle, Empreinte

 

By Product

  • Bra

  • Knickers & Panties

  • Body Suit

  • Leg Garters

By Type

  • Online

  • Offline

 

  1. Research Framework
    1. Research Objective
    2. Product Overview
    3. Market Segmentation
  2. Executive Summary
  3. GCC Luxury Lingerie Market Insights
    1. Industry Value Chain Analysis
    2. DROC Analysis
      1. Growth Drivers
        1. Increasing demand for comfortable and stylish lingerie
        2. Growing popularity of online shopping for lingerie
      2. Restraints
        1. Limited availability
      3. Opportunities
        1. Increasing focus on sustainability in the lingerie industry
      4. Challenges
        1. Economic uncertainty
    3. Technology Advancements/Recent Developments
    4. Regulatory Framework
    5. Porter’s Five Forces Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of New Entrants
      4. Threat of Substitutes
      5. Intensity of Rivalry
  4. GCC Luxury Lingerie Market Overview
    1. Market Size & Forecast, 2019–2029
      1. By Value (USD Million)
    2. Market Share & Forecast
      1. By Product
        1. Bra
        2. Knickers and Panties
        3. Body Suit
        4. Leg Garters
        5. Others
      2. By Distribution Channel
        1. Online
        2. Offline
  5. Competitive Landscape
    1. List of Key Players and Their Offerings
    2. GCC Luxury Lingerie Company Market Share Analysis, 2022
    3. Competitive Benchmarking, By Operating Parameters
    4. Key Strategic Developments (Mergers, Acquisitions, Partnerships, etc.)
  6. Impact of Covid-19 on GCC Luxury Lingerie Market
  7. Company Profile (Company Overview, Financial Matrix, Competitive Landscape, Key Personnel, Key Competitors, Contact Address, Strategic Outlook, SWOT Analysis)
    1. Victoria's Secret
    2. Agent Provocateur
    3. La Perla
    4. Chantelle
    5. Wolford
    6. Aubade
    7. Simone Pérèle
    8. Empreinte
    9. Other Prominent Players
  8. Key Strategic Recommendations
  9. Research Methodology
    1. Qualitative Research
      1.   Primary & Secondary Research
    2.    Quantitative Research
    3.    Market Breakdown & Data Triangulation
      1.   Secondary Research
      2.   Primary Research
    4. Breakdown of Primary Research Respondents, By Region
    5.    Assumptions & Limitations

*Financial information of case of non-listed companies can be provided as per availability.

**The segmentation and the companies are subject to modifications based on in-depth secondary research for the final deliverable.

 

List of Figures

 

Figure 1       GCC Luxury Lingerie Segmentation

Figure 2       GCC Luxury Lingerie Market Value Chain Analysis

Figure 3       Company Market Share Analysis, 2022

Figure 4       GCC Luxury Lingerie Market Size, By Value (USD Million), 2019–2029

Figure 5       GCC Luxury Lingerie Market Share, By Product, By Value, 2019–2029

Figure 6       GCC Luxury Lingerie Market Share, By Distribution Channel, By Value, 2019–2029

 

List of Tables

 

Table 1        GCC Luxury Lingerie Market Size, By Value (USD Million), 2019–2029

Table 2        GCC Luxury Lingerie Market Size, By Product, By Value, 2019–2029

Table 3        GCC Luxury Lingerie Market Size, By Distribution Channel, By Value, 2019–2029

Table 4        Victoria's Secret Company Overview

Table 5        Victoria's Secret Financial Overview

Table 6        Agent Provocateur Company Overview

Table 7        Agent Provocateur Financial Overview

Table 8        La Perla Company Overview

Table 9        La Perla Financial Overview

Table 10      Chantelle Company Overview

Table 11      Chantelle Financial Overview

Table 12      Wolford Company Overview

Table 13      Wolford Financial Overview

Table 14      Aubade Company Overview

Table 15      Aubade Financial Overview

Table 16      Simone Pérèle Company Overview

Table 17      Simone Pérèle Financial Overview

Table 18      Empreinte Company Overview

Table 19      Empreinte Financial Overview

Market Segmentation

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Frequently Asked Questions (FAQs):

Ans: The bra segment is expected to hold the highest market share in the GCC Luxury Lingerie Market by product.
Ans: The online segment is expected to hold a higher market share in the GCC Luxury Lingerie Market by distribution channel.
Ans: GCC Luxury Lingerie Market size was estimated at USD 346 million in 2022.
Ans: Major factors driving the growth of the GCC Luxury Lingerie Market include an increasing demand for comfortable and stylish lingerie and growing popularity of online shopping for lingerie.
Ans: Key players in the GCC Luxury Lingerie Market include Victoria's Secret, Agent Provocateur, La Perla, Chantelle, Wolford, Aubade, Simone Pérèle, and Empreinte.
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