Luxury lingerie makers are opening new stores, expanding product offerings and even providing customisation
High-end brands are expanding in terms of markets and offerings as demand for sophisticated lingerie grows
In the world of lingerie, it's a question of desire and demand - regardless of economic ructions. Some luxury brands are feeling the chill winds of economic uncertainty, especially in China.
Nonetheless, high-end lingerie makers are ambitiously expanding as demand for exquisitely crafted products rises.
In October, Italian lingerie label La Perla opened a four-storey flagship store on Russell Street in Causeway Bay - boasting some of the world's most expensive retail spaces. It was only a week after the opening of British luxury lingerie label Agent Provocateur's first standalone boutique in Hong Kong.
"People stop buying when they see luxury only as an ostentatious symbol of status," says La Perla CEO John Hooks.
"But lingerie is something you wear and you buy for yourself and your partner. I think it might be the reason why we are less affected by [the present market climate]."
The craftsmanship behind such lingerie designs warrants the hefty price tags. La Perla's customised bra featuring 24ct gold thread, for example, can go for over HK$80,000, while Agent Provocateur's lace robes are priced over HK$25,000.
Apart from traditional lingerie maisons, fashion designers such as Stella McCartney and Dolce & Gabbana are also taking their share of the market by launching high-end lingerie collections. The budding trend that's taking the industry by storm doesn't stop here. Lingerie chic is a major trend for the spring/summer 2016 season as Dior, Balenciaga, Celine and more are tapping into the theme.
Demand for luxurious, couture-esque lingerie and loungewear is quickly growing, which has fuelled high-end brands' ambitious expansion in Asia.
La Perla is planning to open up to five more stores in China next year while Agent Provocateur plans to roll out 20 to 30 stores over the next five years.
