50about 48%, and being a land with so much
ethnic diversity, it is it imperative for the
market to have plus size brands that can cater
to a particular segment of the population.You are globally present in many other
markets as well, including the US and
Canada, UK etc. How different is the
Indian market?Indian customers are very different from
their international counterparts. Indian
women look more for comfort than style
or look in their lingerie and one of the key
factors in the minds of the Indian audience
is the price point. So it is safe to say that
India is a very different market and hence
no comparisons can be made because
the business model we follow here is also
entirely different from what we follow in the
other markets.How do you see the market for plus
size lingerie evolving? And how are you
planning to fill the gaps in the market?Indian lingerie market has been moving
from a cluttered segment of the industry to
a much-organized sector. Lingerie market‘Our foremost aim will be to educate
customers’
US-based plus-size lingerie brand Parfait, with a network of 700 stores across US, UK, Hongkong and Canada, made
its debut in India last year. The brand recently announced that it was increasing its SIS count in the country from the
current 17 to 150 and also planning to embark on an EBO journey. Akhil Srivastava, Managing Director of Parfait
India, shares with VM&RD, the brand’s journey so far, the market dynamics of a niche category and the plans going
forward.
Parfait entered India last year. How has
been your journey so far?
Parfait has recently made its entry in the
Indian market and is at a very nascent stage
in the journey. But we have already received
superb response from customers from cities
like Delhi-NCR, Mumbai, Pune, Chandigarh,
Allahabad, Lucknow, and Varanasi, amongst
others. We are expanding rapidly and plan
to soon mark our retail presence pan India.
While our current focus is on the northern
and western regions, we will soon be
tapping the southern and eastern markets.
In less than three months of starting retail,
we are already present in over 30 SIS and 10
online marketplaces.
Why is India a favourable market for plus
size lingerie?
Indian market has immense potential
for plus size brands as the size inclusivity
industry is becoming more global to adhere
to customer needs. The struggle to find the
right fit and styles for the plus size women
made way for plus size lingerie brands in
India. With the share of female population at
has come a long way from being considered
as an apparel sub-category in the earlier
days. The industry in India is projected to
grow at a rate of 14% by 2023 to reach $
6.5 billion. With the rise in the purchasing
power, there has been a subsequent rise in
the demand for Bralettes, activewear, resort
wear and daily intimate wear.While doing our research in the Indian
market, we found that there is a huge gap in
the demand and supply of plus size lingerie
in India. The Indian market lacked style, cuts
and colours in plus size segment. Parfait
aims at providing ample options in different
shades and colours to the customers.Who’s your target audience? What’s the
price range?We aim at serving plus size women aged
between 18 and 50 years with a band size of
30 to 44 and cup size of D to K. Our product
(bra) ranges Rs 1,599 to Rs 2,499.What are the major retail challenges in
your category? How are you working
around them?Akhil Srivastava
Managing Director, Parfait IndiaJuly 2019