昔日巨头黛安芬退场，本土内衣品牌“接棒”主舞台

Core Insights - Triumph, a German lingerie brand, announced its exit from the Chinese mainland market by the end of 2025, marking the end of the "underwire era" in the country [5][6][11] - The shift in consumer preferences towards comfort and local brands has led to a decline in Triumph's market presence, with 78.4% of consumers now opting for wire-free bras [6][10] - The rise of domestic brands like Ubras and Jiao Nai has capitalized on the changing consumer trends, achieving significant market share and sales growth [10][12] Company Overview - Triumph International Group, established in 1886, was one of the first international lingerie brands to localize production in China, with a peak of over 1,000 stores [7][11] - The brand was once perceived as a luxury in the Chinese market, but its relevance has diminished as consumer preferences shifted towards comfort and affordability [8][9] Market Dynamics - The lingerie market in China is undergoing a transformation, with local brands capturing 90% of the top 20 sales during the recent Double 11 shopping festival [10][12] - The market is characterized by a fragmented landscape, with the top five brands holding only 6% market concentration, indicating a highly competitive environment [15] Consumer Behavior - Younger consumers are increasingly favoring local brands over international ones, driven by a desire for comfort and affordability [8][9] - The traditional focus on shaping and underwire has been replaced by a demand for comfort, with many consumers now preferring wire-free and sports-style lingerie [6][10] Industry Trends - The lingerie industry is witnessing a bifurcation, with new brands rapidly emerging while traditional brands like Triumph face declining sales and market share [11][12] - The rise of "white label" products poses a significant challenge to both established and new brands, as price competition intensifies in the fragmented market [15]