Key Players
Competitive Landscape
Five brand owners hold share bands from 7% to 17%. Other players together account for 42% to 46%, Future Market Insights data show. Victoria's Secret holds 15% to 17%, ahead of Jockey International at 12% to 14% and Hanesbrands at 10% to 12%. Gap and Zivame complete the ranked group.
In the search for new sources of competitive advantage, recent results show Victoria's Secret, Aerie and Skims growing in stores and online at once. Comparable sales at Victoria's Secret grew 13% in Q1 2026.[1] Aerie added 19% on the same measure in fiscal Q2 2026.[2] Skims is doubling company-owned stores in 2026.[3] Gildan bought Hanesbrands and then put the Australian business up for sale.[5]
Company developments mapped to drivers, trends and opportunities (2026-2036)
| Development | Driver | Trend | Opportunity |
|---|---|---|---|
| June 2026: Victoria's Secret raised 2026 net sales guidance. | Store and international growth. | Partner stores abroad add volume. | Franchise entry into new cities. |
| September 2026: Aerie grew comparable sales 19%. | Comfort-led intimates for young buyers. | Mall brands keep adding doors. | Store and app bundles for repeat basics. |
| July 2026: Skims planned 55 company-owned stores by year end. | Social media brands seek fitting rooms. | Digital-first labels open flagships. | Asian and Middle East franchise stores. |
| July 2026: Gildan agreed to sell HanesBrands Australia. | Portfolio focus after a large acquisition. | Regional brands move to local owners. | Local owners can reset store plans. |
Source: Future Market Insights, Lingerie Market Report, 2026-2036.
Competition splits between store-heavy specialists, franchise and wholesale brands, and contract makers. Victoria's Secret and Aerie run company stores in malls. Jockey in India reaches buyers through 1,604 exclusive brand stores and a large multi-brand network.[4] MAS Holdings supplies international brands from factories.
Who leads the lingerie market?
Victoria's Secret holds the top named range at 15% to 17% and leads premium lingerie. Jockey International follows at 12% to 14%.
Which brand owners reported recent store or channel moves?
Q1 2026 brought 19 openings and 16 closures at Victoria's Secret.[1] Aerie added 5 doors and shut 2 across the first half of fiscal 2026.[2] Skims opened franchised stores in the UAE in July 2026.[3] Gildan agreed to sell HanesBrands Australia.[5]
What do shoppers weigh before buying lingerie?
Shoppers weigh fit, comfort, fabric and price. Bra buyers also look for size range and a fitting service. Brief buyers favour multipacks, quick delivery and easy reorders.
How will competition change through 2036?
Digital-first brands will keep opening stores, and mall chains will keep building apps. Franchise partners will carry global labels into Asian and Middle East cities. Department store labels will lose space to specialists with both channels.
Representative Company Overview
| Company | Positioning | Recent development |
|---|---|---|
| Victoria's Secret & Co. | Specialist lingerie brand owner with company and partner stores | June 2026: raised 2026 net sales guidance to $7.030 billion to $7.130 billion. |
| American Eagle Outfitters (Aerie) | US intimates and apparel brand | September 2026: Aerie comparable sales up 19%. |
| Gildan Activewear (Hanes) | Basics and innerwear owner | July 2026: agreed to sell HanesBrands Australia. |
| Page Industries (Jockey India) | Licensed innerwear brand with franchise stores | August 2026: listed 1,604 Jockey exclusive brand stores. |
Research Methodology
Brand facts in this study come from quarterly results, exchange filings and fashion trade press dated from May 2025. The companies included in the report represent current market structure and do not indicate a market-share ranking.
