Sales of Innerwear on online channels grew by over 80% in FY24: Unicommerce
Users from 340+ cities use online channels to buy innerwear
16 May 2024, New Delhi: Online sales of innerwear rose by over 80% during FY 2024 as compared to FY 2023, as per data analysed by e-commerce enablement SaaS platform Unicommerce. This shows the growing significance of online channels for innerwear sales. The data is based on the information analysed by Unicommerce relating to the innerwear brands utilising the Unicommerce platform.
The range of products bought online includes lingerie sets, bras, panties, sleepwear, swimwear and loungewear. Other categories that have clicked higher during this period include women's sportswear, activewear and shapewear.
Unicommerce data shows buyers from more than 340 cities utilising online channels for their innerwear purchase. In addition to tier - 1 cities and metropolitans like Delhi, Gurgaon, Mumbai, Bangalore, e-commerce order volumes across tier - 2 and tier- 3 cities rise exponentially by over 75% and 80% respectively. These include cities like Jaipur, Lucknow, Rohtak, Surat, Patna, Nagpur, and Ranchi among many others. The wider adoption of online channels indicates greater comfort for consumers across smaller towns towards making their innerwear purchases online.
Unicommerce counts leading innerwear brands like VIP Clothing, Lux Industries, Monte Carlo, PepeJeans and Bummer among others as its clients. It powers their online sales through its various solutions including multi-channel order management, warehouse & inventory management and seller-management for marketplaces.
Underscoring the growing importance of online channels, Mr. Kanishk Pathare, D2C Head at VIP Clothing Limited added, “We have witnessed a prominent shift in consumer interest from conventional, off-the-shelf buying to an online-first shopping approach. As our technology partner, Unicommerce’s platform provides the operational support to manage orders through these channels efficiently and ensures greater strength of our e-commerce supply chain”.
New-age innerwear brand Bummer is an online-first D2C company which focuses on India’s huge millennial and GenZ audience. “We have been a pure play online platform offering a myriad of options for the digitally savvy youth through our website as well as multiple marketplaces. Online channels continue to witness the growing interest of online shoppers for our products. With Unicommerce’s technology solutions, our post-purchase operations are automated for smoother order processing further enhancing our inventory visibility across channels," said Irfan Mansuri, Head of Operations at Ballr Apparels Pvt. Ltd. (Bummer).
Innerwear is about increasing users' comfort by offering them a wide selection of design, fit, fabric, size, etc, which leads to a large number of SKUs. The category has further expanded due to the increasing popularity of new products like period panties, intimatewear and maternity innerwear. Unicommerce’s technology solutions manage a large number of SKUs to meet varied user demand. Unicommerce provides a sector and size agnostic platform to meet the different industry requirements with its comprehensive offerings for end-to-end management of e-commerce and retail operations.
Commenting on the growing demand for online shopping across the innerwear segment, Kapil Makhija, MD & CEO of Unicommerce said, “Online shopping is adding newer pathways for e-commerce segments like innerwear, leading brands to tap connect more effectively with their target audience. As a technology platform, we are committed to supporting brands, retailers and marketplaces by enhancing the efficiency of their post-purchase operations.”
With a growing Annual Recurring Revenue (ARR) as of the quarter ending September 2023, Unicommerce has achieved a 750 million+ Annual Transaction run-rate, serving over 3500 customers, managing 8000+ warehouses, and processing orders from 1900+ stores through its platform.
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“Unicommerce eSolutions Limited is proposing, subject to receipt of requisite approvals, market conditions and other considerations, to make an initial public offer of its equity shares and has filed a draft red herring prospectus (“DRHP”) with the Securities and Exchange Board of India. The DRHP is available on the websites of the Company at www.unicommerce.com, SEBI at www.sebi.gov.in as well as on the website of the book running lead managers, IIFL Securities Limited and CLSA India Private Limited at www.iiflcap.com and www.india.clsa.com, respectively. Investors should note that investment in equity shares involves a high degree of risk. For details, potential investors should refer to the DRHP, including the section titled “Risk Factors”.
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