In what portends a new era in India's thriving lingerie industry, Reliance Industries has entered into a strategic alliance with Israeli garment Industry giant Delta Galil. This 50:50 joint venture will seriously sally into the innerwear business of Reliance, squarely pitting the conglomerate against Page Industries, the biggest player with brands like Jockey and Speedo under its folds.
Global Lingerie Expertise Meets Indian Innovation
As the world leader in the apparel business, Delta Galil brings decades of expertise and a huge portfolio of international brands to the Indian subcontinent. It has now obtained licenses for legendary brands such as Calvin Klein, Tommy Hilfiger, and Columbia, among others, for lingerie lines that will be designed and manufactured by the company, along with Reliance in partnership for Indian consumers. This deal will not only service the existing brands of Reliance, including Clovia, Zivame, and Amante, but also launch premium labels of Delta such as "7 For All Mankind" and "Necessities" for the first time in India.
Delta Galil was established in 1975 and, since then, has been in the pursuit of fabric innovation through its research and development centers stationed in Israel, Oregon, and China. It specializes in performance socks and bras, further strengthening Delta's leading position in lingerie technology. The strong intellectual portfolio it possesses consists of seven registered patents and twelve pending applications that shall drive further innovation to continue in the Indian market.
Reliance's Growing Lingerie Presence
Reliance has been pursuing an incremental buildup in lingerie through reputed brand acquisitions such as Clovia, Zivame, and Amante over the last couple of years. These branded combined businesses clocked sales of over Rs 2,000 crore in FY24 alone. The latest partnership with Delta Galil will further power Reliance into the fast-growing sector. It also aligned itself with several international joint ventures like Marks & Spencer and Hunkemoller International, cleaning up its portfolio further.
India's Innerwear Market: A High-On-Growth Sector
The rapidly growing innerwear market in India has touched Rs. 61,091 crore in 2023 and is expected to touch Rs 75,466 crore by 2025.According to industry experts, the business is dominated by women's innerwear, accounting for 60%, which is also growing more rapidly in the mid and premium segments owing to increasing disposable incomes and demand for fashionably appealing comfortable options. Mens' innerwear accounts for about 30% of the market and is also growing with more people becoming fashion-conscious and giving importance to comfort.
With Delta Galil and Reliance about to enter this space, they're all set to shake the established players and give lingerie marketing in India a facelift through state-of-the-art innovation and global expertise.
Inputs by Agencies
Image Source: Multiple Agencies
Ⓒ Copyright 2024. All Rights Reserved Powered by Vygr Media.
