被中产女性抛弃，百年巨头撤离，这个千亿市场变天了

Core Insights - The announcement of the cessation of operations by Triumph's Chinese subsidiary marks a significant retreat from the Chinese market for the international lingerie giant, which was once synonymous with high-quality lingerie for Chinese consumers [1][4] - The exit of Triumph reflects broader challenges faced by traditional lingerie brands in adapting to changing consumer preferences and market dynamics, as local brands experience rapid growth [5][9] Group 1: Company Developments - Triumph, founded in Germany and with nearly 140 years of history, was a major player in the lingerie industry, known for its rigorous sizing and ergonomic designs [4] - The company will cease after-sales services on major e-commerce platforms by December 5, 2023, while physical stores will continue operations until the end of 2025, although many are already in clearance mode [1][6] - Local brands like Bananain have seen significant growth, with Bananain's GMV projected to exceed 7 billion yuan in 2024, outperforming many established brands [3] Group 2: Market Trends - The traditional lingerie business model, which relied on department store sales and expert fitting services, is becoming less viable as foot traffic declines and e-commerce rises [5][6] - Local brands are capitalizing on the shift towards comfort and efficiency, with innovations such as seamless production processes and simplified sizing, which appeal to younger consumers [9][10] - The lingerie market in China remains fragmented, with no single dominant player, contrasting with the higher concentration seen in Western markets [14][16] Group 3: Competitive Landscape - Traditional brands like Aimer and Urban Beauty are also facing declining revenues and profits, with Aimer reporting a 31.4% drop in net profit in the first half of the year [7] - New brands are leveraging supply chain efficiencies and digital marketing strategies to capture market share, while traditional brands struggle to adapt to the new consumer landscape [9][17] - The market is evolving with three main strategies: industrial product focus (e.g., Bananain, Ubras), emotional branding (e.g., NEIWAI, Victoria's Secret), and a strong offline presence (e.g., Aimer, Manifen) [16][17]