Victoria’s Secret, one of the most well-known retailers of women’s lingerie in the world, had global net sales amounting to approximately 6.2 billion U.S. dollars in 2023. Until 2021, Victoria’s Secret was one of the flagship brands of American retailer, L Brands. In 2021, Victoria's Secret & Co. separated from its parent company L Brands.

The development of an iconic fashion brand Victoria’s Secret was established in 1977 by American businessman Roy Raymond, who felt that traditional American department stores were not friendly enough towards men shopping for women’s lingerie. This led to the creation of Victoria’s Secret, which has grown into one of the most valuable apparel brands worldwide. The scale of operations of Victoria’s Secret is also impressive. As of February 3, 2024, the specialty retailer had 837 stores in operation throughout North America alone. The United States is the largest underwear market worldwide. The brand has a high awareness in the North American country, at 87 percent of online fashion consumers in 2023. The annual Victoria’s Secret Fashion Show also adds to the iconic nature of the brand, with a host of supermodels showcasing the brands’ latest ranges of merchandise.

How high is the brand awareness of Victoria's Secret in the United States?When it comes to fashion online shop users, brand awareness of Victoria's Secret is at 87 percent in the United States. The survey was conducted using the concept of aided brand recognition, showing respondents both the brand's logo and the written brand name.How popular is Victoria's Secret in the United States?In total, 34 percent of U.S. fashion online shop users say they like Victoria's Secret. However, in actuality, among the 87 percent of U.S. respondents who know Victoria's Secret, 39 percent of people like the brand.What is the usage share of Victoria's Secret in the United States?All in all, 27 percent of fashion online shop users in the United States use Victoria's Secret. That means, of the 87 percent who know the brand, 31 percent use them.How loyal are the customers of Victoria's Secret?Around 22 percent of fashion online shop users in the United States say they are likely to use Victoria's Secret again. Set in relation to the 27 percent usage share of the brand, this means that 81 percent of their customers show loyalty to the brand.What's the buzz around Victoria's Secret in the United States?In September 2023, about 25 percent of U.S. fashion online shop users had heard about Victoria's Secret in the media, on social media, or in advertising over the past three months. Of the 87 percent who know the brand, that's 29 percent, meaning at the time of the survey there's some buzz around Victoria's Secret in the United States.If you want to compare brands, do deep-dives by survey items of your choice, filter by total online population or users of a certain brand, or drill down on your very own hand-tailored target groups, our Consumer Insights Brand KPI survey has you covered.

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Global Men's Underwear and Women's Lingerie Market valued at USD 9.49 Billion in 2023, projected to grow USD 13.51 Billion by 2032, with CAGR 4%.

In 2023, Victoria’s Secret led the lingerie market in the United States, achieving an aided brand awareness of around 63.67 percent among consumers. Adore Me followed with 20.39 percent, and Torrid and SKIMS reported 17.37 percent and 15.21 percent, respectively.

[Keywords] Market include Fruit of the the Loom, Hanesbrands Inc., Maidenform, Joe Boxer, Victoria's Secret

The online lingerie market, valued at $797.38 billion in 2025, is experiencing robust growth, projected to expand at a Compound Annual Growth Rate (CAGR) of 13.59% from 2025 to 2033. This surge is driven by several key factors. Increased internet penetration and e-commerce adoption, particularly among younger demographics, are significantly boosting accessibility and convenience for consumers. The rising popularity of online shopping, coupled with the discreet nature of lingerie purchases, makes the online channel increasingly attractive. Furthermore, personalized recommendations, detailed product information, and virtual try-on tools are enhancing the online shopping experience, improving customer satisfaction and driving sales. The market's segmentation, encompassing bras, panties, and other lingerie items, caters to diverse consumer preferences and contributes to overall market expansion. Competitive strategies employed by major players, including Bodycare Creations, Fast Retailing, and Victoria's Secret, involve innovative product offerings, targeted marketing campaigns, and strategic partnerships to maintain market share. While challenges such as concerns regarding fit and sizing persist, ongoing improvements in e-commerce platforms and technological advancements are progressively mitigating these obstacles. Geographic distribution of the market reflects global trends. North America and Europe currently hold significant market shares, driven by high disposable incomes and established e-commerce infrastructure. However, rapid growth is expected in the Asia-Pacific region, fueled by rising middle-class populations and increasing online shopping penetration in countries like India and China. The market's continued expansion hinges on the success of companies in overcoming logistical challenges, ensuring secure payment gateways, and building strong customer trust to further expand this burgeoning sector. The diversity of product offerings and marketing strategies will play a vital role in shaping the competitive landscape and future growth trajectory of the online lingerie market.

As of the end of financial year 2023, Victoria's Secret sold products at 533 stores outside of North America. Most of these stores, apart from some in China, were operating as part of franchise, license, and wholesale arrangements. Their North American stores are company-operated, and significantly outnumber their international stores.

The global intimate apparel market, valued at $121.92 billion in 2025, is projected to experience robust growth, exhibiting a Compound Annual Growth Rate (CAGR) of 7.09% from 2025 to 2033. This expansion is fueled by several key factors. Rising disposable incomes, particularly in developing economies within APAC and South America, are driving increased consumer spending on apparel, including premium intimate apparel. Simultaneously, evolving fashion trends and a growing emphasis on comfort and body positivity are shifting consumer preferences towards innovative designs and sustainable materials. The market is segmented by product type (lower innerwear, upper innerwear, sleepwear & loungewear, thermal wear, and others), gender (female and male), and distribution channels (offline and online). The online segment is experiencing particularly rapid growth, driven by the convenience and wider selection offered by e-commerce platforms. Increased adoption of seamless and eco-friendly materials is another significant driver. However, the market faces challenges such as fluctuating raw material prices and intense competition among established and emerging brands. The competitive landscape is characterized by a mix of global giants and regional players, each employing diverse strategies to capture market share. This includes brand building, strategic partnerships, and expansion into new markets and product categories. The success of individual players depends significantly on their ability to adapt to rapidly evolving consumer preferences and technological advancements in manufacturing and retail. The regional distribution of the market shows significant variations. North America and Europe currently hold substantial market shares, driven by established consumer bases and high purchasing power. However, APAC, particularly China and India, represents a significant growth opportunity, fueled by rapid economic expansion and a burgeoning young population. South America and the Middle East and Africa are also showing promising growth potential, although at a slightly slower pace than APAC. Furthermore, successful companies are actively investing in sustainable practices to meet the growing consumer demand for ethical and environmentally conscious products. This is leading to innovation in materials, production processes, and supply chain management. The long-term forecast anticipates continued growth, driven by factors such as the aforementioned trends and the potential for further market penetration in emerging regions.

In 2020, the global lingerie retail market was valued at approximately 42 billion U.S. dollars and it was forecast to reach a value of 78.66 billion U.S. dollars in 2027.

The lingerie market The lingerie market is often broken into two product categories: bras and briefs. Bras were the leading product category within the lingerie market as of 2016, with a 55.5 percent share. Some of the most popular lingerie retailers in the world are Victoria’s Secret and Calvin Klein. Europe and North America held around two-thirds of the market as of 2016. In Germany, up to 25.5 percent of women claimed to be willing to spend between 30 and 54 euros for lingerie. The market is increasingly making efforts to be inclusive of all body types and center its advertising on body positivity, which are possibly attributed to the change in cultural norms. For example, 24 percent of U.S. consumers said to have liked the inclusion of plus-size models in lingerie advertising.

Victoria’s Secret is one of the most valuable brands globally. The well-known American lingerie company sells its products both online and in stores across various countries. In the United Kingdom, the first Victoria’s Secret store opened in 2012. The company has been increasing its presence ever since. As of 2020, Victoria’s Secret is available to UK shoppers in 26 store locations, as seen in this statistic.

Sisters with Bath & Body Works

Victoria’s Secret is part of the underwear apparel retailer L Brands (formerly Limited Brands) and sisters with its umbrella company’s other lingerie and personal care businesses. Among these, Victoria’s Secret store locations worldwide are only surpassed by Bath & Body Works, which currently does not sell in or ship to the United Kingdom.

UK lingerie market

In the UK, the women’s underwear market is dynamic and poised to expand more in the next years. Victoria’s Secret is still one of UK women’s favorite lingerie and underwear brands, although homegrown brands like M&S and Ann Summers are also widely preferred.

According to Cognitive Market Research, The Global Luxury Underwear market size will be USD 15.2 billion in 2023 and would expand at a CAGR of 6.2% from 2023 to 2030.

The demand for Luxury Underwear is rising due to increasing digital transformation.
Demand for Supermarkets/Hypermarkets Application Luxury Underwear remains higher in the Luxury Underwear market.
The Men’s Underwear Types held the highest Portable Beach umbrella market revenue share in 2023.
North America Luxury Underwear will continue to lead, whereas the Asia Pacific Luxury Underwear market will experience the most substantial growth until 2030.

Changing Consumer Preferences to Provide Viable Market Output

Changing consumer preferences are growing the growth of the Luxury Underwear Market as individuals increasingly prioritize comfort, style, and quality in intimate wear. The shift towards more casual and comfortable attire has elevated the importance of luxurious and well-crafted Underwear. Consumers seek brands that align with their evolving values, emphasizing self-expression and individuality. The demand for unique designs, premium materials, and innovative styles reflects the changing landscape of consumer expectations, driving luxury underwear brands to adapt and cater to a discerning market that values both functional and fashionable aspects in intimate apparel.

In February 2023, MAS Holdings collaborated with ByondXR, a renowned digital retail store software, to develop virtual showrooms that enhance the retail experience. This partnership enables MAS to present its latest collections to global brands in innovative virtual showrooms.

(Source:apparelresources.com/technology-news/manufacturing-tech/mas-holdings-joins-hands-byondxr-create-virtual-product-showrooms/)

Rising Disposable Income to Propel Market Growth

The rise in disposable income is a vital driver of the Luxury Underwear Market. As consumers experience an increase in income levels, they are more inclined to invest in premium and high-quality products, including luxury underwear. Elevated disposable income allows individuals to prioritize comfort, style, and quality in intimate wear, seeking brands that offer a superior and exclusive experience. Luxury underwear, being a symbol of status and prestige, becomes an attractive choice for consumers with higher spending capacity, driving the overall growth of the luxury segment in the underwear market.

In September 2023, the United States-based lingerie and lifestyle brand Victoria's Secret introduced its women's lingerie and sleepwear collections on its India e-commerce store. This move aims to provide Indian shoppers with access to the brand's complete product range.

(Source:in.fashionnetwork.com/news/Victoria-s-secret-launches-lingerie-range-on-india-website-for-first-time,1554822.html)

Market Dynamics of Luxury Underwear

Growing Counterfeiting and Fraud to Restrict Market Growth

The growing challenge of counterfeiting and fraud poses a significant threat to the Luxury Underwear Market. Counterfeit products, often mimicking the designs of reputable luxury brands, can undermine brand authenticity, erode consumer trust, and dilute the exclusivity associated with genuine luxury underwear. The proliferation of fraudulent items through various channels, including online platforms, creates a risk of consumers unknowingly purchasing counterfeit products. This not only impacts the revenue and reputation of authentic luxury brands but also hampers the overall integrity of the luxury underwear market, necessitating increased efforts in brand protection and anti-counterfeiting measures.

Impact of COVID–19 on the Luxury Underwear Market

The COVID-19 pandemic impacted the Luxury Underwear Market as lockdowns and economic uncertainties led to a temporary decline in consumer spending on non-essential items, including luxury apparel. Disruptions in supply chains and retail closures also affected sales. However, as restrictions eased, there was a gradual recovery driven by pent-up demand, increased online shopping, and a shift towards comfort-focused attire. Luxury underwear brands adapted by emphasizing online channels, virtual fittings, and promoting loungewear collections, aligning with changing consumer preferences during the pandemic and contributing to the market's eventual recovery. Introduction of Luxury Underwear

Luxurious under...

In 2023, Victoria's Secret invested approximately 454 million U.S. dollars in global advertising activities, up 32 percent from 344 million dollars a year earlier. In 2022, the company ranked among the largest clothing and accessories companies worldwide by revenue.

According to Cognitive Market Research, The Global Sexy Lingerie market estimation is USD 14.2 billion in 2023 and will grow at a compound annual growth rate (CAGR) of 9.2% from 2023 to 2030.

The demand for Sexy Lingerie is rising due to body positivity; lingerie companies now provide a wider variety of goods in more sizes.
Demand for briefs remains higher in the Sexy Lingerie market.
The offline category held the highest Sexy Lingerie market revenue share in 2023.
North America will continue to lead, whereas the Europe Sexy Lingerie market will experience the most robust growth until 2030.

Increasing Desire for Premium Brands to Drive Market Output

The global sexy lingerie market is driven by women's increasing desire for premium brands. Women are more likely to have a wide variety of lingerie in their wardrobe due to increased spending power and a propensity to buy lingerie as contemporary clothing.During the anticipated time, the variables above are expected to generate exceptional demand for erotic lingerie services. The middle class's aspirational rise and rising disposable money will help the sensual lingerie business grow even faster. Additionally, the growing number of significant multi-brand online retailers will fuel market value growth over the anticipated period. Further, the rise in women's desire for luxury brands contributes to the expansion of the market as a whole.

Rising Trend for Body Positivity to Propel Market Growth

Individuals are encouraged by body positivity to accept their bodies and express themselves freely. This newly discovered self-acceptance has resulted in a need for lingerie that displays originality and elegance. Customers are looking for lingerie that suits their tastes, whether for vivid patterns, bright colors, or uncommon styles. To satisfy consumers' growing desire for self-expression, brands have expanded their range of products. Due to this shift in mindset, consumers are more interested in goods that celebrate and emphasize natural body traits than those that adhere to false standards. In response, lingerie companies create goods that enhance natural curves and flatter various body types.

In March 2022: Along with expanding the selection of underwear styles in various sizes, including fringe sizes like 2XS and 2XL, and introducing possibilities in a 3XL, Victoria's Secret underwent a fairly noticeable image shift.

(Source: stylesage.co/blog/the-new-era-of-victorias-secret/)

Influence of Endorsement and Online Marketing Fuels the Market Growth

Market Dynamics of the Sexy Lingerie

Socio-Cultural Taboo to Hinder Market Growth

among some cultures, wearing or even talking about lingerie openly might cause discomfort among women because it is still regarded as a taboo or private subject. As a result, the market may not expand as quickly as it might otherwise. For instance, underwear is sometimes viewed as a sign of promiscuity and sexuality in some traditional nations. Even if they are interested in wearing it, this may make women feel humiliated or ashamed. Furthermore, some societies have rigid dress regulations that forbid women from donning provocative attire, like lingerie.

Impact of COVID-19 on the Sexy Lingerie Market

The latest coronavirus pandemic severely impacted the sensual lingerie sector. There was a decline in revenue and sales of sensuous lingerie due to lockdowns caused by the COVID-19 outbreak in several nations. Additionally, customers are less interested in seductive lingerie since they are more focused on fundamental needs. The lack of workers and raw supplies hampered the production and manufacturing processes in the fashion sector. However, deliveries made via e-commerce and the import-export of raw materials from foreign countries were restricted in the early phases of the pandemic. Introduction of The Sexy Lingerie Market

Women's underwear, light dresses, and sleepwear are all in erotic lingerie. Some of the soft, elastic, and delicate fabrics utilized are silk, lycra, satin, cotton, and chiffon. Many styles include body stockings, hosiery, corsets, and bustiers. It has been noted that women want to have a variety of seductive lingerie in their wardrobe due to increased purchasing power and a desire to obtain lingerie as trendy clothing. The market is expanding due to the rising demand for sexy lingerie from online stores and i...

The reusable period panties market is estimated to reach US$ 132.0 million in 2023. Demand for reusable period panties is forecast to increase at an impressive 16.9% CAGR. The market is likely to surpass US$ 631.2 million by 2033.

As per FMI, the reusable period panties industry holds around 29.5% of the global panties market share.

Scope Of Report