女用贴身内衣市场－全球产业规模、份额、趋势、机会及预测（依产品类型、定价、通路、地区及竞争格局划分，2021-2031年）

全球女用贴身内衣市场预计将从 2025 年的 951.2 亿美元成长到 2031 年的 1,398.9 亿美元，年复合成长率为 6.64%。

该行业涵盖胸罩、内裤、塑身衣、家居服和睡衣等内衣品类，所有产品都旨在兼顾功能性支撑、美观和舒适性。推动该产业成长的关键因素包括女性消费者可支配收入的增加和全球女性劳动参与率的提高，这些因素持续支撑着从必需品到奢侈品等各类内衣的需求。此外，快速的都市化和有组织的零售基础设施的完善提高了产品的供应量，使製造商能够有效地拓展新兴市场。

儘管经济驱动因素强劲，内衣产业仍面临许多挑战，包括原材料成本波动和建立永续供应链的压力。近期产业统计显示，该产业对大量原料投入的依赖性十分显着。根据纺织品交易所（Textile Exchange）预测，2024年全球纤维产量将达到约1.32亿吨，凸显了品牌对天然和合成资源的庞大需求。因此，内衣製造商面临双重挑战：既要满足不断增长的生产需求，也要遵守环境合规标准。这些因素都可能挤压利润空间，阻碍市场平稳扩张。

市场驱动因素

电子商务和线上零售通路的快速普及从根本上改变了贴身衣物的行销和消费模式，成为市场成长的关键驱动力。数位平台为消费者提供了购买女用贴身内衣等私人产品时所需的隐私和便利，同时也使品牌能够提供实体店无法提供的丰富产品选择。主要产业参与者优化全通路策略的量化数据也印证了这项向虚拟零售的转变。 American Eagle Outfitters 于 2024 年 3 月发布的「2023 财年第四季及全年财务业绩」显示，第四季度数位销售额成长了 19%，凸显了线上互动在推动公司旗下包括 Aerie 品牌在内的所有产品组合销售成长方面所发挥的关键作用。因此，整合行动购物应用程式和个人化虚拟试穿工具已成为保持竞争优势的必要条件。

同样重要的是，人们越来越关注身体积极性和包容性尺码，这表明需要摒弃不切实际的美学标准，并提供适合各种体型的产品。这种文化演变正促使老牌和新晋参与企业扩大尺寸范围，并启用更多样化的模特，从而有效地扩大潜在市场。业界领导者维多利亚的秘密公司（Victoria's Secret & Co.）在2024年公布的2023年财务业绩中，净销售额达到61.82亿美元，充分体现了这一行业变革的规模，表明大型企业正在适应不断变化的消费者价值观。专业品牌也积极掌握这项需求。 Toledo Holdings, Inc.于2024年3月公布了其“2023年第四季度及全年财务业绩”，净销售额达到11.52亿美元，证实了其专为10至30码女性设计的服装和内衣产品拥有强大的商业性潜力。

市场挑战

原料成本的波动对内衣产业的持续发展构成重大障碍。女用贴身内衣生产需要使用特殊的材料，例如精緻的蕾丝、丝绸和高性能合成纤维，这些材料极易受到全球价格波动的影响。当这些关键零件的成本变得不稳定时，製造商在预测成本和维持具有竞争力的定价模式方面将面临巨大挑战。这种不可预测性造成了高风险环境，导致生产预算经常超支，迫使企业自行承担财务损失，而不是将其转嫁给对价格敏感的消费者。

这些经济压力直接阻碍了市场扩张，侵蚀了用于再投资的营运资金。由于品牌商难以找到价格合理的原料，其产品线多元化和拓展新地域的能力受到严重限制。根据国际纺织品製造商协会统计，截至2024年5月，全球25%的纺织品生产商表示原物料价格上涨是其营运的主要阻碍因素。因此，缓解不断上涨的投入成本成为一种持续的迫切需求，导致关键资源无法用于成长策略，进而造成生产停滞，并限制了整个产业的发展。

市场趋势

为了在不牺牲功能性的前提下实现环境永续性，製造商正努力将再生材料和生物基高性能布料融入产品开发策略，重塑市场格局。这一趋势的特点是再生纤维素和升级再造合成纤维的快速普及，使品牌能够在提供透气性和吸湿排汗等高性能特性的同时，永续性可持续性。与成本主导的原料问题不同，这项转变是由消费者对高阶系列产品循环利用和减少生态足迹的需求所驱动的。这种转变的规模在材料采购方面显而易见。根据纺织品交易所于2025年10月发布的《2025年材料市场报告》，全球三分之二的合成纤维素纤维将来自经过认证或受控的来源，凸显了内衣产业向生物基材料的转型。

同时，无线、无钢圈、以舒适为中心的设计已不再是远距办公生活的临时适应之选，而是成为消费者的永久偏好。这种需求促使支撑结构需要重新设计，以创新的黏合和无缝编织技术取代僵硬的钢圈，从而实现不受限制的塑形效果。这些以舒适为核心的产品在商业性取得了超越传统结构型产品的佳绩，印证了转向「第二层肌肤」美学的策略价值。这种市场动态可以从细分市场领导企业的表现中量化。根据美国鹰牌服饰公司（American Eagle Outfitters, Inc.）于2025年9月发布的“2025年第二季度财报”，其以舒适为核心的品牌Aerie的同店销售额增长了3%，在需求下滑的情况下，其业绩明显优于公司其他传统品牌。

目录

第一章概述

第二章调查方法

第三章执行摘要

第四章：客户评价

第五章 全球女用贴身内衣市场展望

• 市场规模及预测
  • 按金额
• 市占率及预测
  • 依产品类型（塑身衣、家居服、内裤、胸罩、其他）
  • 依价格范围（大众市场与高阶市场）
  • 按分销管道（超级市场/大卖场超市、专卖店、多品牌店、独立商店、线上、其他）
  • 按地区
  • 按公司（2025 年）
• 市场地图

第六章：北美女用贴身内衣市场展望

• 市场规模及预测
• 市占率及预测
• 北美洲：国家分析
  • 我们
  • 加拿大
  • 墨西哥

第七章：欧洲女用贴身内衣市场展望

• 市场规模及预测
• 市占率及预测
• 欧洲：国家分析
  • 德国
  • 法国
  • 英国
  • 义大利
  • 西班牙

第八章 亚太女用贴身内衣市场展望

• 市场规模及预测
• 市占率及预测
• 亚太地区：国家分析
  • 中国
  • 印度
  • 日本
  • 韩国
  • 澳洲

第九章：中东和非洲女用贴身内衣市场展望

• 市场规模及预测
• 市占率及预测
• 中东和非洲：国家分析
  • 沙乌地阿拉伯
  • 阿拉伯聯合大公国
  • 南非

第十章：南美洲女用贴身内衣市场展望

• 市场规模及预测
• 市占率及预测
• 南美洲：国家分析
  • 巴西
  • 哥伦比亚
  • 阿根廷

第十一章 市场动态

• 司机
• 任务

第十二章 市场趋势与发展

• 併购
• 产品发布
• 最新进展

第十三章 全球女用贴身内衣市场：SWOT分析

第十四章 波特五力分析

• 产业竞争
• 新进入者的可能性
• 供应商电力
• 顾客权力
• 替代品的威胁

第十五章 竞争格局

• Jockey International Inc.
• Hanesbrands Inc.
• Triumph Intertrade AG
• Yandy Enterprises LLC
• Reliance Retail Limited
• Victoria's Secret & Co.
• Marks and Spencer plc
• PVH Corp.
• Fashion Nova, LLC.
• Wacoal Holdings Corporation

第十六章 策略建议

第十七章：关于研究公司及免责声明

The Global Lingerie Market is projected to expand from USD 95.12 Billion in 2025 to USD 139.89 Billion by 2031, reflecting a compound annual growth rate of 6.64%. This industry encompasses intimate apparel categories including brassieres, panties, shapewear, loungewear, and sleepwear, all engineered to provide functional support alongside aesthetic appeal and comfort. Key factors propelling this sector's growth include the rising disposable income of female consumers and increasing global female workforce participation, which sustain demand for both essential and premium undergarments. Additionally, rapid urbanization and the development of organized retail infrastructure have enhanced product accessibility, enabling manufacturers to effectively penetrate emerging markets.

Despite these robust economic drivers, the industry encounters significant hurdles related to volatile raw material costs and the pressure to establish sustainable supply chains. The dependence on high-volume material inputs is highlighted by recent industrial statistics; according to Textile Exchange, global fiber production reached approximately 132 million tonnes in 2024, emphasizing the vast scale of natural and synthetic resources required by brands. Consequently, intimate apparel manufacturers face the dual task of managing escalating production requirements and meeting environmental compliance standards, factors that threaten to squeeze profit margins and hinder seamless market expansion.

Market Driver

The rapid proliferation of e-commerce and online retail channels has fundamentally transformed the marketing and consumption of intimate apparel, serving as a primary engine for market growth. Digital platforms provide consumers with the privacy and convenience often sought when buying sensitive products like lingerie, while enabling brands to display vast inventories that physical stores cannot stock. This transition to virtual retail is supported by quantitative data from major industry players optimizing omnichannel strategies; according to American Eagle Outfitters, Inc., in its 'Fourth Quarter and Fiscal Year 2023 Results' from March 2024, total digital revenue rose by 19% in the fourth quarter, highlighting the critical role of online engagement in driving sales for its portfolio, including the Aerie brand. As a result, integrating mobile shopping apps and personalized virtual fitting tools has become essential for maintaining a competitive edge.

Equally important is the growing emphasis on body positivity and inclusive sizing, which necessitates a shift away from unrealistic beauty standards toward products catering to diverse body types. This cultural evolution has driven both established manufacturers and new entrants to broaden their size ranges and utilize diverse models, effectively expanding their total addressable market. The scale of this sector-wide transformation is evidenced by industry leader Victoria's Secret & Co., which reported net sales of $6.182 billion for the fiscal year 2023 in 2024, reflecting the massive operations adapting to evolving consumer values. Specialized brands are also capitalizing on this demand; according to Torrid Holdings Inc., in its 'Fourth Quarter and Fiscal Year 2023 Results' released in March 2024, the company generated net sales of $1.152 billion, confirming the significant commercial viability of providing dedicated apparel and intimates for sizes 10 to 30.

Market Challenge

The volatility of raw material costs poses a major barrier to the continued advancement of the intimate apparel sector. Producing lingerie requires specialized inputs such as fine lace, silk, and high-performance synthetic fabrics, materials that are highly susceptible to global price fluctuations. When the costs of these critical components become unstable, manufacturers encounter substantial difficulties in forecasting expenses and sustaining competitive pricing models. This unpredictability creates a risky environment where production budgets are often exceeded, compelling companies to absorb the financial losses rather than passing them on to price-sensitive customers.

These economic pressures directly hinder market expansion by eroding the operational capital needed for reinvestment. As brands struggle to procure affordable materials, their ability to diversify product lines or expand into new geographic regions is significantly restricted. According to the International Textile Manufacturers Federation, in May 2024, 25 percent of global textile producers identified high raw material prices as a major constraint on their business operations. Consequently, the constant necessity to mitigate rising input costs diverts essential resources away from growth initiatives, resulting in stagnated production volumes and limiting the overall development of the industry.

Market Trends

The integration of recycled and bio-based performance fabrics is reshaping product development strategies as manufacturers aim to uphold environmental stewardship without sacrificing functionality. This trend is defined by the swift adoption of regenerative cellulose and upcycled synthetics, enabling brands to offer high-performance features like breathability and moisture-wicking alongside sustainability credentials. Unlike cost-driven raw material issues, this transition is driven by consumer demand for circularity and reduced ecological footprints in premium collections. The magnitude of this shift is clear in material sourcing; according to Textile Exchange's 'Materials Market Report 2025' from October 2025, two-thirds of global manmade cellulosic fibers are now derived from certified or controlled feedstock, signaling a significant industrial pivot toward bio-based inputs for intimate apparel.

Simultaneously, the dominance of wireless and unstructured comfort-centric designs has established itself as a permanent consumer preference, extending beyond a temporary response to remote work lifestyles. This demand necessitates a re-engineering of support structures, replacing rigid underwires with innovative bonding technologies and seamless knitting that provide shape without restriction. The commercial success of these comfort-focused portfolios is surpassing traditional structured categories, confirming the strategic value of pivoting toward "second-skin" aesthetics. This market dynamic is quantitatively backed by the performance of niche leaders; according to the 'Q2 2025 Earnings' report from American Eagle Outfitters, Inc. in September 2025, the comfort-oriented Aerie brand realized a 3 percent increase in comparable sales, explicitly outperforming the company's legacy portfolio, which faced softer demand.

Key Market Players

• Jockey International Inc.
• Hanesbrands Inc.
• Triumph Intertrade AG
• Yandy Enterprises LLC
• Reliance Retail Limited
• Victoria's Secret & Co.
• Marks and Spencer plc
• PVH Corp.
• Fashion Nova, LLC.
• Wacoal Holdings Corporation

Report Scope

In this report, the Global Lingerie Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

Lingerie Market, By Product Type

• Shape Wear
• Lounge Wear
• Knickers & Panties
• Bra
• Others

Lingerie Market, By Pricing

• Mass Vs. Premium

Lingerie Market, By Distribution Channel

• Supermarkets/Hypermarkets
• Exclusive Stores
• Multi-branded Stores
• Independent Stores
• Online
• Others

Lingerie Market, By Region

• North America
  • United States
  • Canada
  • Mexico
• Europe
  • France
  • United Kingdom
  • Italy
  • Germany
  • Spain
• Asia Pacific
  • China
  • India
  • Japan
  • Australia
  • South Korea
• South America
  • Brazil
  • Argentina
  • Colombia
• Middle East & Africa
  • South Africa
  • Saudi Arabia
  • UAE

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Global Lingerie Market.

Available Customizations:

Global Lingerie Market report with the given market data, TechSci Research offers customizations according to a company's specific needs. The following customization options are available for the report:

Company Information

• Detailed analysis and profiling of additional market players (up to five).

Table of Contents

1. Product Overview

• 1.1. Market Definition
• 1.2. Scope of the Market
  • 1.2.1. Markets Covered
  • 1.2.2. Years Considered for Study
  • 1.2.3. Key Market Segmentations

2. Research Methodology

• 2.1. Objective of the Study
• 2.2. Baseline Methodology
• 2.3. Key Industry Partners
• 2.4. Major Association and Secondary Sources
• 2.5. Forecasting Methodology
• 2.6. Data Triangulation & Validation
• 2.7. Assumptions and Limitations

3. Executive Summary

• 3.1. Overview of the Market
• 3.2. Overview of Key Market Segmentations
• 3.3. Overview of Key Market Players
• 3.4. Overview of Key Regions/Countries
• 3.5. Overview of Market Drivers, Challenges, Trends

4. Voice of Customer

5. Global Lingerie Market Outlook

• 5.1. Market Size & Forecast
  • 5.1.1. By Value
• 5.2. Market Share & Forecast
  • 5.2.1. By Product Type (Shape Wear, Lounge Wear, Knickers & Panties, Bra, Others)
  • 5.2.2. By Pricing (Mass Vs. Premium)
  • 5.2.3. By Distribution Channel (Supermarkets/Hypermarkets, Exclusive Stores, Multi-branded Stores, Independent Stores, Online, Others)
  • 5.2.4. By Region
  • 5.2.5. By Company (2025)
• 5.3. Market Map

6. North America Lingerie Market Outlook

• 6.1. Market Size & Forecast
  • 6.1.1. By Value
• 6.2. Market Share & Forecast
  • 6.2.1. By Product Type
  • 6.2.2. By Pricing
  • 6.2.3. By Distribution Channel
  • 6.2.4. By Country
• 6.3. North America: Country Analysis
  • 6.3.1. United States Lingerie Market Outlook
    • 6.3.1.1. Market Size & Forecast
      • 6.3.1.1.1. By Value
    • 6.3.1.2. Market Share & Forecast
      • 6.3.1.2.1. By Product Type
      • 6.3.1.2.2. By Pricing
      • 6.3.1.2.3. By Distribution Channel
  • 6.3.2. Canada Lingerie Market Outlook
    • 6.3.2.1. Market Size & Forecast
      • 6.3.2.1.1. By Value
    • 6.3.2.2. Market Share & Forecast
      • 6.3.2.2.1. By Product Type
      • 6.3.2.2.2. By Pricing
      • 6.3.2.2.3. By Distribution Channel
  • 6.3.3. Mexico Lingerie Market Outlook
    • 6.3.3.1. Market Size & Forecast
      • 6.3.3.1.1. By Value
    • 6.3.3.2. Market Share & Forecast
      • 6.3.3.2.1. By Product Type
      • 6.3.3.2.2. By Pricing
      • 6.3.3.2.3. By Distribution Channel

7. Europe Lingerie Market Outlook

• 7.1. Market Size & Forecast
  • 7.1.1. By Value
• 7.2. Market Share & Forecast
  • 7.2.1. By Product Type
  • 7.2.2. By Pricing
  • 7.2.3. By Distribution Channel
  • 7.2.4. By Country
• 7.3. Europe: Country Analysis
  • 7.3.1. Germany Lingerie Market Outlook
    • 7.3.1.1. Market Size & Forecast
      • 7.3.1.1.1. By Value
    • 7.3.1.2. Market Share & Forecast
      • 7.3.1.2.1. By Product Type
      • 7.3.1.2.2. By Pricing
      • 7.3.1.2.3. By Distribution Channel
  • 7.3.2. France Lingerie Market Outlook
    • 7.3.2.1. Market Size & Forecast
      • 7.3.2.1.1. By Value
    • 7.3.2.2. Market Share & Forecast
      • 7.3.2.2.1. By Product Type
      • 7.3.2.2.2. By Pricing
      • 7.3.2.2.3. By Distribution Channel
  • 7.3.3. United Kingdom Lingerie Market Outlook
    • 7.3.3.1. Market Size & Forecast
      • 7.3.3.1.1. By Value
    • 7.3.3.2. Market Share & Forecast
      • 7.3.3.2.1. By Product Type
      • 7.3.3.2.2. By Pricing
      • 7.3.3.2.3. By Distribution Channel
  • 7.3.4. Italy Lingerie Market Outlook
    • 7.3.4.1. Market Size & Forecast
      • 7.3.4.1.1. By Value
    • 7.3.4.2. Market Share & Forecast
      • 7.3.4.2.1. By Product Type
      • 7.3.4.2.2. By Pricing
      • 7.3.4.2.3. By Distribution Channel
  • 7.3.5. Spain Lingerie Market Outlook
    • 7.3.5.1. Market Size & Forecast
      • 7.3.5.1.1. By Value
    • 7.3.5.2. Market Share & Forecast
      • 7.3.5.2.1. By Product Type
      • 7.3.5.2.2. By Pricing
      • 7.3.5.2.3. By Distribution Channel

8. Asia Pacific Lingerie Market Outlook

• 8.1. Market Size & Forecast
  • 8.1.1. By Value
• 8.2. Market Share & Forecast
  • 8.2.1. By Product Type
  • 8.2.2. By Pricing
  • 8.2.3. By Distribution Channel
  • 8.2.4. By Country
• 8.3. Asia Pacific: Country Analysis
  • 8.3.1. China Lingerie Market Outlook
    • 8.3.1.1. Market Size & Forecast
      • 8.3.1.1.1. By Value
    • 8.3.1.2. Market Share & Forecast
      • 8.3.1.2.1. By Product Type
      • 8.3.1.2.2. By Pricing
      • 8.3.1.2.3. By Distribution Channel
  • 8.3.2. India Lingerie Market Outlook
    • 8.3.2.1. Market Size & Forecast
      • 8.3.2.1.1. By Value
    • 8.3.2.2. Market Share & Forecast
      • 8.3.2.2.1. By Product Type
      • 8.3.2.2.2. By Pricing
      • 8.3.2.2.3. By Distribution Channel
  • 8.3.3. Japan Lingerie Market Outlook
    • 8.3.3.1. Market Size & Forecast
      • 8.3.3.1.1. By Value
    • 8.3.3.2. Market Share & Forecast
      • 8.3.3.2.1. By Product Type
      • 8.3.3.2.2. By Pricing
      • 8.3.3.2.3. By Distribution Channel
  • 8.3.4. South Korea Lingerie Market Outlook
    • 8.3.4.1. Market Size & Forecast
      • 8.3.4.1.1. By Value
    • 8.3.4.2. Market Share & Forecast
      • 8.3.4.2.1. By Product Type
      • 8.3.4.2.2. By Pricing
      • 8.3.4.2.3. By Distribution Channel
  • 8.3.5. Australia Lingerie Market Outlook
    • 8.3.5.1. Market Size & Forecast
      • 8.3.5.1.1. By Value
    • 8.3.5.2. Market Share & Forecast
      • 8.3.5.2.1. By Product Type
      • 8.3.5.2.2. By Pricing
      • 8.3.5.2.3. By Distribution Channel

9. Middle East & Africa Lingerie Market Outlook

• 9.1. Market Size & Forecast
  • 9.1.1. By Value
• 9.2. Market Share & Forecast
  • 9.2.1. By Product Type
  • 9.2.2. By Pricing
  • 9.2.3. By Distribution Channel
  • 9.2.4. By Country
• 9.3. Middle East & Africa: Country Analysis
  • 9.3.1. Saudi Arabia Lingerie Market Outlook
    • 9.3.1.1. Market Size & Forecast
      • 9.3.1.1.1. By Value
    • 9.3.1.2. Market Share & Forecast
      • 9.3.1.2.1. By Product Type
      • 9.3.1.2.2. By Pricing
      • 9.3.1.2.3. By Distribution Channel
  • 9.3.2. UAE Lingerie Market Outlook
    • 9.3.2.1. Market Size & Forecast
      • 9.3.2.1.1. By Value
    • 9.3.2.2. Market Share & Forecast
      • 9.3.2.2.1. By Product Type
      • 9.3.2.2.2. By Pricing
      • 9.3.2.2.3. By Distribution Channel
  • 9.3.3. South Africa Lingerie Market Outlook
    • 9.3.3.1. Market Size & Forecast
      • 9.3.3.1.1. By Value
    • 9.3.3.2. Market Share & Forecast
      • 9.3.3.2.1. By Product Type
      • 9.3.3.2.2. By Pricing
      • 9.3.3.2.3. By Distribution Channel

10. South America Lingerie Market Outlook

• 10.1. Market Size & Forecast
  • 10.1.1. By Value
• 10.2. Market Share & Forecast
  • 10.2.1. By Product Type
  • 10.2.2. By Pricing
  • 10.2.3. By Distribution Channel
  • 10.2.4. By Country
• 10.3. South America: Country Analysis
  • 10.3.1. Brazil Lingerie Market Outlook
    • 10.3.1.1. Market Size & Forecast
      • 10.3.1.1.1. By Value
    • 10.3.1.2. Market Share & Forecast
      • 10.3.1.2.1. By Product Type
      • 10.3.1.2.2. By Pricing
      • 10.3.1.2.3. By Distribution Channel
  • 10.3.2. Colombia Lingerie Market Outlook
    • 10.3.2.1. Market Size & Forecast
      • 10.3.2.1.1. By Value
    • 10.3.2.2. Market Share & Forecast
      • 10.3.2.2.1. By Product Type
      • 10.3.2.2.2. By Pricing
      • 10.3.2.2.3. By Distribution Channel
  • 10.3.3. Argentina Lingerie Market Outlook
    • 10.3.3.1. Market Size & Forecast
      • 10.3.3.1.1. By Value
    • 10.3.3.2. Market Share & Forecast
      • 10.3.3.2.1. By Product Type
      • 10.3.3.2.2. By Pricing
      • 10.3.3.2.3. By Distribution Channel

11. Market Dynamics

• 11.1. Drivers
• 11.2. Challenges

12. Market Trends & Developments

• 12.1. Merger & Acquisition (If Any)
• 12.2. Product Launches (If Any)
• 12.3. Recent Developments

13. Global Lingerie Market: SWOT Analysis

14. Porter's Five Forces Analysis

• 14.1. Competition in the Industry
• 14.2. Potential of New Entrants
• 14.3. Power of Suppliers
• 14.4. Power of Customers
• 14.5. Threat of Substitute Products

15. Competitive Landscape

• 15.1. Jockey International Inc.
  • 15.1.1. Business Overview
  • 15.1.2. Products & Services
  • 15.1.3. Recent Developments
  • 15.1.4. Key Personnel
  • 15.1.5. SWOT Analysis
• 15.2. Hanesbrands Inc.
• 15.3. Triumph Intertrade AG
• 15.4. Yandy Enterprises LLC
• 15.5. Reliance Retail Limited
• 15.6. Victoria's Secret & Co.
• 15.7. Marks and Spencer plc
• 15.8. PVH Corp.
• 15.9. Fashion Nova, LLC.
• 15.10. Wacoal Holdings Corporation

16. Strategic Recommendations

17. About Us & Disclaimer