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Fashion Direct-to-Consumer Innerwear Brands sector

Strategic acquirers, private equity (buyout funds and growth funds) firms, and valuation benchmarks for Fashion Direct-to-Consumer Innerwear Brands

1.1 - About Fashion Direct-to-Consumer Innerwear Brands sector

Companies in the Fashion Direct-to-Consumer Innerwear Brands category design, source, and sell underwear, bras, and loungewear primarily through owned eCommerce and mobile channels. They leverage fit technology, digital merchandising, and data-driven CRM to deliver better comfort, sizing accuracy, and convenience via fast shipping and easy returns. Analysts assessing strategic buyers in Fashion Direct-to-Consumer Innerwear Brands look for scale, brand affinity, healthy unit economics, and omnichannel expansion capability.

Offerings typically span bras and bralettes, panties and briefs, boxers and trunks, undershirts and base layers, shapewear, socks, and loungewear or sleepwear. Vendors operate modern Shopify or headless storefronts with subscription replenishment, virtual fitting and size recommendation, personalization engines, and loyalty programs. They pair sustainable materials sourcing with agile supply chains, regional 3PL fulfillment, and reverse logistics that enable try-before-you-buy, easy exchanges, dynamic bundling, and rapid product drops informed by first‑party data.

They primarily serve women’s intimates shoppers, men’s basics buyers, and athleisure or loungewear consumers. For these segments, they deliver improved fit confidence and comfort, faster delivery and hassle-free returns, predictable replenishment through subscriptions, and broader size inclusivity and sustainability transparency. The model drives higher repeat purchase rates and basket size for the brand, while reducing size-related returns for consumers through accurate recommendations.

2. Buyers in the Fashion Direct-to-Consumer Innerwear Brands sector

2.1 Top strategic acquirers of Fashion Direct-to-Consumer Innerwear Brands companies

ThirdLove Logo

ThirdLove

HQ: United States Website
  • Description: Provider of women's undergarments and activewear sold online, offering bras, underwear and sports bras engineered for comfort, precise fit and style, including half-cup sizing and cooling, supportive designs.
  • Key Products:
  • 24/7® Classic T-Shirt Bra: Everyday bra engineered for ultimate comfort and perfect fit, offering unique half-cup sizes for precise sizing and seamless wear beneath clothing
  • 24/7® Underwear: Cooling, barely-there underwear crafted for superior comfort so wearers "barely notice it's there," ideal for all-day use
  • Kinetic Sports Bra: High-support sports bra featuring maximum support construction and convenient hook-eye closure, keeping athletes comfortable during intense workouts
  • ComfortStretch Underwear: Soft, stretchy underwear line made from flexible fabric that moves with the body, delivering enhanced comfort for daily wear.
  • Company type: Private company
  • Employees: ●●●●●
  • Total funding raised: $●●●m
  • Backers: ●●●●●●●●●●
  • Acquisitions: ●●
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2.2 - Strategic buyer groups for Fashion Direct-to-Consumer Innerwear Brands sector

Description: Companies in this category design, produce, and sell apparel primarily through owned digital channels, using data-driven merchandising and agile supply chains to reach consumers directly. Fashion Tech D2C Apparel Brands leverage eCommerce storefronts, social commerce, and mobile apps to deliver differentiated fit, style, and convenience while retaining margin and customer relationships. Their value lies in rapid trend responsiveness, personalized experiences, and scalable, global online distribution.
ThirdLove

ThirdLove

Website • HQ: United States
  • Type: N/A
  • Employees: ●●●●●
  • Description: Provider of women's undergarments and activewear sold online, offering bras, underwear and sports bras engineered for comfort, precise fit and style, including half-cup sizing and cooling, supportive designs.
  • Key Products:
  • 24/7® Classic T-Shirt Bra: Everyday bra engineered for ultimate comfort and perfect fit, offering unique half-cup sizes for precise sizing and seamless wear beneath clothing
  • 24/7® Underwear: Cooling, barely-there underwear crafted for superior comfort so wearers "barely notice it's there," ideal for all-day use
  • Kinetic Sports Bra: High-support sports bra featuring maximum support construction and convenient hook-eye closure, keeping athletes comfortable during intense workouts
  • ComfortStretch Underwear: Soft, stretchy underwear line made from flexible fabric that moves with the body, delivering enhanced comfort for daily wear.
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Key Products: ████████, ████████, ████████, ████████
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Buyer group 3: ████████ ████████

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Key Products: ████████, ████████, ████████, ████████
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3. Investors and private equity firms in Fashion Direct-to-Consumer Innerwear Brands sector

3.1 - Buyout funds in the Fashion Direct-to-Consumer Innerwear Brands sector

Buyout Funds investing in Fashion Direct-to-Consumer Innerwear Brands companies

51+ funds
Description: Buyout funds focused on Fashion Direct-to-Consumer Innerwear Brands companies globally.

Verdane

Website • HQ: Norway
  • Type: Buyout
  • Fund Size: $●●●m
  • Investment Range: $●●-●●●m
  • Focus: Technology companies in Fashion Direct-to-Consumer Innerwear Brands
  • Relevant M&A transactions / similar portfolio companies:
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2.2 - Strategic buyer groups for Fashion Direct-to-Consumer Innerwear Brands sector

Growth Equity Funds in Fashion Direct-to-Consumer Innerwear Brands companies

41+ funds
Description: Growth equity funds focused on Fashion Direct-to-Consumer Innerwear Brands companies globally.

Partech

Website • HQ: France
  • Type: Growth
  • Fund Size: $●●●m
  • Investment Range: $●●-●●●m
  • Focus: High-growth companies in Fashion Direct-to-Consumer Innerwear Brands
  • Relevant investments / similar portfolio companies:
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4 - Top valuation comps for Fashion Direct-to-Consumer Innerwear Brands companies

4.2 - Public trading comparable groups for Fashion Direct-to-Consumer Innerwear Brands sector

Valuation benchmark group 1: Direct-to-Consumer Online Retailers

5 companies View group →
Description: Companies in this trading comparables group are inventory-led, direct-to-consumer online retailers selling owned or curated products via proprietary e-commerce platforms. They monetize primarily through product sales, subscriptions, and ancillary services, controlling merchandising, pricing, and fulfillment. They are grouped as comparables given similar digital demand generation, unit economics, and margin structures associated with inventory ownership and last‑mile logistics across fashion, meal kits, gifts, and vehicles.
AUTO1 Group logo

AUTO1 Group

  • Enterprise value: $●●●m
  • Market Cap: $●●●m
  • EV/Revenue: ●.●x
  • EV/EBITDA: ●●.●x
  • Description: Provider of digital automotive platform solutions for buying, selling, and financing used cars. The company's multi-brand platform offers consumers and professional car dealers in Europe efficient and transparent car trading services through its various brands and digital tools.
  • Key Products:
  • Autohero: Offers technology-driven car buying experience for consumers
  • wirkaufendeinauto.de: Purchasing branch network providing easy car selling for consumers
  • Remarketing Solutions: Helps partners sell vehicles faster for highest price
  • Financing Services: Provides financing solutions for car dealers and consumers
  • Dealer Network Platform: Facilitates seamless buying and selling of used cars for dealers across Europe.
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Revenue growth
Median
15.7%
2025E
16.0%
2026E
EBITDA margin
Median
28.2%
2025E
28.6%
2026E
Cash EBITDA margin
Median
27.6%
2025E
28.0%
2026E
EV/Revenue
Median
8.4x
2025E
6.8x
2026E
EV/EBITDA
Median
28.9x
2025E
24.4x
2026E
EV/Cash EBITDA
Median
29.0x
2025E
25.5x
2026E
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4.3 - M&A Transactions in the Fashion Direct-to-Consumer Innerwear Brands sector

Selected M&A transactions

Date Target Description Buyer(s) Relevance EV EV/Revenue EV/EBITDA
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Frequently Asked Questions

Buyers & Acquirers in Fashion Direct-to-Consumer Innerwear Brands sector

Who are the top strategic acquirers of Fashion Direct-to-Consumer Innerwear Brands companies?

Top strategic buyers in this sector include ThirdLove, a provider of women's undergarments and activewear sold online, offering bras, underwear and sports bras engineered for comfort, precise fit and style, including half-cup sizing and cooling, supportive designs. .

Which buyer groups are most relevant for Fashion Direct-to-Consumer Innerwear Brands companies?

Relevant strategic buyer groups similar to the Fashion Direct-to-Consumer Innerwear Brands sector include Internet First Apparel Brands because they share similar customer segments and product capabilities.

Financial Investors in Fashion Direct-to-Consumer Innerwear Brands sector

Which are the top PE firms investing in Fashion Direct-to-Consumer Innerwear Brands companies?

Potential investors in the broader Fashion Direct-to-Consumer Innerwear Brands space include Partech and Verdane.

Who are the top buyout funds acquiring Fashion Direct-to-Consumer Innerwear Brands companies?

Active PE funds and buyout funds acquiring companies in the Fashion Direct-to-Consumer Innerwear Brands space include Verdane.

Who are the top growth equity funds investing in Fashion Direct-to-Consumer Innerwear Brands companies?

Growth funds investing in the broader Fashion Direct-to-Consumer Innerwear Brands sector include Partech.

Valuation of Companies in Fashion Direct-to-Consumer Innerwear Brands sector

Which are the key public companies that are relevant trading comps for Fashion Direct-to-Consumer Innerwear Brands companies?

Key trading comparable groups include AUTO1 Group, a provider of digital automotive platform solutions for buying, selling, and financing used cars. the company's multi-brand platform offers consumers and professional car dealers in europe efficient and transparent car trading services through its various brands and digital tools..

Which are the key trading comparable groups for Fashion Direct-to-Consumer Innerwear Brands companies?

Similar trading comparable companies include Direct-to-Consumer Online Retailers. Our platform tracks detailed trading comparable groups in the Fashion Direct-to-Consumer Innerwear Brands sector with complete valuation multiples, growth metrics, and profitability data. Access the full database to benchmark your company against relevant public comparables.

What are recent M&A transactions in the Fashion Direct-to-Consumer Innerwear Brands sector?

Our platform tracks M&A transactions in the Fashion Direct-to-Consumer Innerwear Brands sector with complete deal terms, valuation multiples, and strategic rationale. Access the full database to benchmark pricing and identify active acquirers.

What are recent capital raises and funding rounds in Fashion Direct-to-Consumer Innerwear Brands?

Access recent funding rounds in the Fashion Direct-to-Consumer Innerwear Brands sector including growth equity, venture capital, and buyout investments. Our database includes round size, lead investors, valuations, and use of proceeds.

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