BrilliA Incorporated has acquired a majority equity interest in Malaysian lingerie brand and specialty retailer Neubodi Holdings Sdn. Bhd., effective August 1, 2026, marking the Singapore-based supplier's move from B2B intimate apparel supply and design into branded consumer retail in Southeast Asia.

The company announced the deal on October 5, 2026. It did not disclose the purchase price or the size of the stake beyond majority control.

Neubodi, founded in 2008, operates 11 retail stores across the Klang Valley, Penang and Johor, including units in Mid Valley Megamall, 1 Utama, Sunway Pyramid and IOI City Mall, alongside e-commerce and social-commerce channels. The brand is known for its holistic bra fitting approach and a size range spanning 72 bra sizes — cup sizes A to I and band sizes 65 to 100.

What does the deal change for BrilliA's supply chain?

The acquisition converts BrilliA's existing B2B sourcing and design operation into a vertically extended model with a direct-to-consumer retail arm in Malaysia. CEO Kendrew Hartanto framed the deal as an evolution of the business.

"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," Hartanto 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."

Hartanto said combining Neubodi's retail and consumer capabilities with BrilliA's global sourcing, design and supply chain expertise creates opportunities to support the brand's growth, improve operating leverage and develop additional distribution for BrilliA's intimate apparel portfolio.

The deal delivers four stated strategic benefits:

• Branded B2C retail: establishes a direct consumer-facing platform beyond the traditional B2B model.
• Specialty retail capabilities: adds physical stores plus e-commerce and social-commerce channels.
• Value chain leverage: opens opportunities to apply BrilliA's existing sourcing, design and supply chain capabilities.
• Portfolio distribution: creates a potential retail channel for BrilliA brands, including DIANA.

Who runs Neubodi after the transaction?

Management continuity is confirmed. Co-founder Tan See See, with more than 15 years in the intimate apparel industry, remains CEO of Neubodi. Ooi Kit Joyce continues as part of the senior management team.

What are the financial targets?

Based on Neubodi management's budget for the financial year ending December 31, 2026, the retailer targets net sales of approximately US$3 million with a net profit margin of approximately 10% to 12%. BrilliA cautioned that timing and extent of any benefits depend on market conditions, execution and integration, and that the targets represent management expectations rather than guaranteed results.

The market context is modest but growing. Research by IMARC Group values the Malaysia lingerie market at approximately US$287 million in 2025, projected to exceed US$500 million by 2034 — a compound annual growth rate of approximately 6.3% from 2026 to 2034.

What decision does this force for sourcing teams?

For intimate apparel suppliers and brands selling into Malaysia and the wider region, the deal signals that vertically integrated competitors now own retail shelf space in the country's top malls. Suppliers competing for BrilliA's B2B volumes should watch whether Neubodi's stores become a captive channel for the DIANA brand, tightening access to specialty lingerie distribution in the Klang Valley and beyond.