Lyra to add lingerie to its product basket

Lyra will venture into the lingerie and loungewear segments. Lyra is a women's legging brand. Lyra branded lingerie and loungewear will be positioned as an affordable fashion collection. The target will be the independent, New Age woman looking to own a good product at a decent and affordable price.

Lyra enjoys a high level of consumer awareness and consumer loyalty. Its legging business is growing by 50 per cent a year and currently commands a market share of 38 per cent in the mid to premium segment. The brand has more than 5,000 strong retailers and distributors across India. In the online space, in addition to its own website, it will have tie-ups with leading e-commerce sites. Products will be competitively priced keeping in mind the price sensitivity of Indian consumers. With the influx of branded apparel, the women's wear market has been growing at 15 to 20 per cent. By 2018, women's branded apparel will most likely capture 41 per cent of the domestic textile market.

Lyra was launched in 2012 in the mid to premium segment. The fabric used for Lyra lingerie is made of cotton Lycra fabric. The brand is experimenting with modal fiber.