11月21日，一纸来自黛安芬中国子公司的停止运营公告，为曾经的德国内衣巨头，也为曾经的钢圈内衣时代划下了一个充满仓促感的休止符。 女性消费者对内衣的需求认知已不同于十年前，以专业导购+身体塑形的传统内衣模式正式走向终结。 与其退场同步发生的，是中国内衣整体市场的萎缩。 据第三方数据显示，2025年1-11月，线上电商平台内衣市场规模突破200亿元，但同比增长仅为2.6%。 关于Triumph 集团从中国大陆市场战略撤离的告知函 来源：网络 2015-2016年是黛安芬的巅峰时期，年销售额曾达到35亿元，线下门店数量超900家，却也难逃退场的命运。 黛安芬的线上售后渠道在12月上旬全面关闭，线下门店也已进入了离场倒计时。 黛安芬的离场绝非孤例，但它无疑是一个极具象征意义的标志。 近乎停滞的增速，也侧面说明内衣市场已进入存量时代，不再有结构性增长红利。 内衣市场真正的变化在于，消费者需求从有钢圈走向无尺码，而当无尺码已成为行业标配，市场并未迎来新的增长曲线，反而陷入"内卷式"洗牌。 品牌只能在同质化的红海中，争夺几乎不再扩大的蛋糕。 钢圈不再是主流，传统内衣模式退潮 要理解黛安芬们的衰败，必须首先回溯它们赖以成功 ...

Core Viewpoint - Triumph Group, the parent company of the well-known lingerie brand Triumph, announced its decision to cease operations in mainland China by December 31, 2025, due to an inability to adapt to changing consumer demands and competitive dynamics in the market [2][4][5]. Company Summary - Triumph, founded in 1886, was one of the first foreign brands to introduce underwire bras to the Chinese market and had established over a thousand stores at its peak [4][5]. - The brand has begun closing its physical stores, with some locations already offering clearance sales and discounts ranging from 4.5% to 8.5% off [3][4]. - Online sales channels will also be phased out, with the last day for after-sales service on various platforms set for December 5, 2025 [2][3]. Industry Summary - The lingerie market in China has shifted from a focus on underwire bras to a preference for comfort, with over 70% of the market now favoring wireless bras [4][5]. - New emerging brands that emphasize comfort, such as Ubras and Neiwai, have gained significant market traction, often outperforming traditional brands like Triumph in online sales [6][7]. - The competitive landscape is characterized by a fragmented market, with Triumph holding less than 1% market share, while local brands are rapidly gaining ground [5][9]. - Traditional brands are facing challenges due to slow product innovation and reliance on outdated sales channels, while new brands leverage online marketing and innovative product designs to attract younger consumers [6][8][9].

Core Viewpoint - The article discusses the evolution of the lingerie industry in China, focusing on the brand Aimer, founded by Zhang Rongming, and its adaptation to changing consumer preferences and market dynamics [2][5][26]. Company Overview - Aimer was founded in 1993 by Zhang Rongming, who initially developed a high-performance memory alloy bra under the brand [5][6]. - The company has grown to become a leading player in the domestic lingerie market, with a diverse product line that includes various sub-brands [5][6][10]. Market Trends - The lingerie market is experiencing a shift in consumer preferences, with a growing emphasis on comfort and practicality over traditional notions of beauty and allure [6][8][10]. - New brands are emerging with innovative concepts such as "wireless" and "size-free" designs, challenging established players like Aimer [6][12][17]. Competitive Landscape - Aimer has historically been a pioneer in the use of memory alloy materials for bras, but it faces increasing competition from new entrants that leverage modern marketing strategies and consumer trends [6][12][17]. - The brand has maintained its market position despite the entry of global competitors like Victoria's Secret, which struggled in the Chinese market due to cultural differences [8][9][12]. Consumer Behavior - The new generation of Chinese female consumers is shifting from a desire to please others to a focus on self-expression and comfort in their lingerie choices [6][10][12]. - Aimer recognizes the importance of adapting to these changing consumer values while maintaining its brand identity [17][25]. Production and Supply Chain - The lingerie industry is moving towards more efficient production methods, such as bonding technology, which reduces labor costs and increases production capacity [12][24]. - Aimer is exploring new manufacturing techniques while balancing the need for quality and brand integrity [12][24]. Strategic Direction - Aimer's strategy emphasizes maintaining brand consistency across online and offline channels, resisting the urge to engage in price wars [19][21][26]. - The company is focused on building a strong brand presence and adapting to market changes without compromising its core values [17][26].