Core Viewpoint - The mid-to-high-end lingerie brand, Triumph, is set to withdraw from the mainland China market by December 31, 2025, as consumer preferences shift away from traditional underwire bras towards more comfortable, wire-free, and sports-oriented lingerie options [1][5][10] Company Summary - Triumph, a well-known lingerie brand from Germany, was one of the first foreign brands to enter the Chinese market, establishing a local production system in the early 1990s [5] - At its peak, Triumph operated over a thousand stores in mainland China, becoming a significant player in the lingerie market [5] - The brand's long-standing focus on underwire bras has led to a failure to adapt to changing consumer demands for comfort and functionality, resulting in its decision to exit the market [5][10] Industry Summary - The lingerie market is experiencing a transformation, with emerging brands focusing on comfort and functionality gaining popularity over traditional brands like Triumph [8][9] - New brands such as ubras and NEIWAI have successfully captured market share by offering wire-free products and innovative designs that resonate with younger consumers [9][10] - Established brands are facing declining sales and profitability, with companies like Wacoal and Aimer reporting significant revenue drops [6][7] - The shift in consumer preferences from "beauty for others" to "comfort for oneself" has created challenges for traditional brands that have not kept pace with market changes [10]

Core Insights - The high-end lingerie brand, Triumph, is set to completely withdraw from the Chinese mainland market by December 31, 2025, as confirmed by multiple store employees [2] - The brand has a long history in China, starting its operations in 1979 and establishing a local production system by the early 2000s [4] Market Dynamics - The withdrawal of Triumph reflects significant changes in the Chinese lingerie market over the past decade, with consumer demand shifting from "shaping" to "comfort" [5] - The market share of non-underwire bras is projected to reach 68% by 2024, a 42 percentage point increase since 2018, while Triumph has primarily focused on underwire products [5] - Local brands like ubras and NEIWAI have rapidly gained market share by emphasizing "non-underwire" and "zero constriction" products, with ubras achieving over 2 billion yuan in annual sales within five years [5] Sales Channels - The online sales channel has become crucial for brands to reach consumers effectively, with e-commerce platforms providing the ability to target specific customer groups and meet diverse consumer needs [5] - The Chinese women's lingerie market is expected to see a growth rate of 7%-8% in 2025, with e-commerce sales experiencing a year-on-year increase of 44.75% [5]