Intimate apparel company BrilliA has completed the acquisition of Neubodi, a Malaysian lingerie retailer established in 2008 and widely recognised for its specialist bra fitting expertise and an exceptionally broad size range. The move marks a meaningful shift in BrilliA’s business direction, transitioning from a predominantly business-to-business intimate apparel supply and design operation into a more diversified company with a direct-to-consumer, branded retail footprint.
What Neubodi Brings to the Table
Neubodi has carved out a distinct position in Malaysia’s intimate apparel segment through its proprietary holistic bra fitting approach and an offering that spans 72 bra sizes — covering cup sizes A through I and band sizes 65 to 100. The brand currently operates 11 retail stores across the Klang Valley, Penang and Johor, with a presence in some of the country’s most prominent retail destinations, including Mid Valley Megamall, 1 Utama, Sunway Pyramid and IOI City Mall. Beyond its physical stores, Neubodi engages consumers through e-commerce and social media channels, giving BrilliA a multi-channel retail platform to build upon.
This combination of specialist bra fitting knowledge, a well-established retail network and active digital consumer engagement gives BrilliA an operational foundation for serving end consumers directly — a capability the company has been looking to develop as part of its broader growth ambitions in branded consumer retail across Southeast Asia.
Leadership Continuity at Neubodi
Tan See See, co-founder of Neubodi and a professional with more than 15 years of experience in the intimate apparel industry, will continue to serve as Chief Executive Officer of Neubodi following the acquisition. Ooi Kit Joyce will also remain part of the senior management team, ensuring operational continuity and brand consistency as the business integrates with BrilliA’s wider portfolio.
BrilliA’s Strategic Rationale
Kendrew Hartanto, Chief Executive Officer of BrilliA, explained the reasoning behind the BrilliA acquires Neubodi transaction. “Neubodi represents an important milestone in BrilliA’s evolution from a B2B intimate apparel supply and design provider into a more diversified business with a growing presence in branded consumer retail,” he said. “Neubodi has built a differentiated position in the Malaysian lingerie market through its specialist fitting expertise, established retail network and direct relationships with consumers. We believe these capabilities provide a strong foundation for BrilliA to expand its branded retail platform in Southeast Asia.”
Hartanto further outlined the synergies the company expects to unlock. “By combining Neubodi’s retail and consumer capabilities with BrilliA’s global sourcing, design and supply chain expertise, we see opportunities to support the brand’s continued growth, improve operating leverage and develop additional distribution opportunities for our intimate apparel portfolio. We are excited to welcome the Neubodi team to BrilliA and look forward to building on the brand’s strong foundation.”
Financial Targets and Operational Outlook
Based on Neubodi management’s budget for the financial year ending December 31, 2026, the brand is targeting net sales of approximately US$3 million, with an expected net profit margin of approximately 10% to 12%. BrilliA expects the acquisition to complement its existing operations and support the development of a broader intimate apparel platform across multiple distribution channels.
The company also noted that the acquisition advances its strategy across several operational and commercial areas, including expanding branded retail presence, improving supply chain integration and broadening its intimate apparel Southeast Asia portfolio. However, the company was clear that these targets represent management expectations and are not guarantees of future results — with actual outcomes depending on market conditions, execution and the company’s ability to integrate and grow the business.
Malaysia Lingerie Market Context
The broader Malaysia lingerie market provides meaningful context for this acquisition. According to market research published by IMARC Group, the Malaysia lingerie market was valued at approximately US$287 million in 2025 and is projected to surpass US$500 million by 2034, reflecting a compound annual growth rate of approximately 6.3% from 2026 to 2034. This growth trajectory underlines the scale of opportunity available to brands with established specialist bra fitting credentials and a reliable retail footprint in the region.
For BrilliA, the Neubodi acquisition is positioned as a platform to capture a share of this expanding market — combining the brand’s consumer-facing expertise with BrilliA’s design, sourcing and supply chain strengths to develop a more competitive and diversified intimate apparel business in Malaysia and, over time, across broader Southeast Asian markets.
