India's $10.24B innerwear market pivots from price-led to value-led, premiumisation surges in Tier 2/3
Clovia co-founder Soumya Kant tells Forbes India that India's innerwear category, now $10.24B in 2024, is being reshaped by 25M Tier 2/3 consumers, 18% non-metro e-commerce gains, and 75-80% YoY growth in smaller cities. Comfort, India-specific sizing and digital are the new growth axes.
What happened
Clovia · India's $10.24B innerwear market is shifting from price-led to value-led consumption, with premiumisation accelerating in Tier 2/3 cities. Comfort,
Key facts
- $10.24 billion market 2024
- 15 million women consumers 2024
- 25 million innerwear consumers Tier 2/3
- 18% rise in non-metro e-commerce sales
- 75% YoY growth Tier 2
- 80% YoY growth Tier 3
Why this matters
Legacy innerwear majors should scout bolt-on acquisitions of D2C brands with Tier 2/3 traction and proprietary fit data to defend against the premiumisation shift.