The Rise of Luxury Sleepwear & Loungewear as Profitable Fashion Niches
Sleepwear has become a multi-billion dollar industry. The last 5 years have seen a boom in the sleepwear and loungewear industry, but sleepwear seems to be a more popular choice among customers. Sleepwear showed a growth of 19% in just the last year. While 70% of all sleep apparel retails on the mass market, only 5% retails in the luxury section. There is a huge potential for new retailers in the luxury sleepwear industry. With silk being a luxurious material with absorbent and anti-aging qualities, millennials want everything from a silk pillow cover, silk pajamas to even a silk eye mask.
The millennial generation has been obsessed with the term ‘self-care’ and everyone is talking about it. The ‘self-care’ movement began with simply drawing a bath and lighting some candles after a long day of work, but recently it has turned into a multi-disciplinary industry. Healing crystals, yoga, meditation class, healthy eating, etc have become an integral part of the self-care regime. Millennials are raised to focus deeply on self-care and personal development, which is good for them in the long run.
With the obsession with self-care, luxury pajamas have become a strong statement for self-care intent. There’s no better feeling than slipping into a luxurious silk pajama set after an exhausting day. It’s not only comfortable but also lights a feeling of self-worth. The whole trend of luxury pajamas is steered by the desire for a good night’s sleep and retailers aren’t sleeping on how to reinvent the bygone ensemble.
Now let’s take a look at some of the fast-growing brands riding the sleepwear trend. These brands saw the potential and took the opportunity with a focus on this category.
Maisonzhou is a Singapore based luxury silk lingerie & loungewear brand which was founded in 2016 by a British designer, Sophie Corlett. The brand was inspired by the street-style of Hong Kong mixed with Sophie’s love for 1920’s Hollywood movies and vintage fashion.
She uses natural fibers that are breathable and biodegradable for her loungewear. The material helps to regulate body temperature and silk is an anti-aging material naturally, which also contributes to the whole feeling of “well-being”.
Silk pajamas set from Maisonzhou($225)
Lunya is another luxury sleepwear brand based in the US. Its modern take on sleepwear aims to help the woman whose lifestyle demands comfort, style and easily transformable nightwear for running out of the house on an errand. It was founded in 2014 by Ashley Miller who realized that even though you spend over one-third of your life in bed, sleepwear tends to be the most undervalued part of your wardrobe. After going on a hunt for some comfortable and flattering sleepwear and returning empty-handed, she saw the potential in the industry and decided to launch her own line for the modern women.
washable silk pant set($238)
Even though, some people can’t seem to justify spending money on an item that no one else sees. But the market is adapting for them. More and more retailers are making sleepwear suitable for daytime use. The past few seasons we have seen celebrities, influencers, and models on the runway sporting funky pajama sets. It’s not just restricted to daytime use, celebrities are wearing these pajama outfits to award shows, parties, public appearances, etc.
Luxury loungewear is something that no one but only you will see and this is what has also become one of its strongest selling points. Today, people want to feel good about themselves rather than looking for approval from others. Loungewear/ sleepwear has become a way of expressing self-love, which makes now a good time for retailers to jump on the pajamas bandwagon and make the most of it.
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