Ubras and urban beauty, new and old underwear giants

Source | Bohufn

Author | Lingling

Recently, in the "Chinese Women's Lingerie White Paper" jointly released by the Urban Beauty, the female underwear has more than 200 types.

This also means that the precise matching of the supply and demand is extremely difficult.

It really counts, the development of three -dimensional women in the Mainland is less than 40 years.

The era of traditional underwear ended

In 1975, Zheng Mindai used a bread machine to cut the fabric and then used its own mold inverted mold to produce the first three -dimensional women's underwear in my country and named An Lifang. By 1987, Anlfang underwear began to enter the mainland market, and the first stop came to Shenzhen.

At that time, Zhang Rongming had just been assigned to Shougang University as a teacher. In addition to teaching, Zhang Rongming also did some scientific research. Super elastic memory alloy braces are the research and development results of 1991. By 1993, based on this research and development, the underwear brand love was officially born in Beijing.

Within a few years, in 1996, Lin Shengzhi and Lin Shengjiang in Shantou established Mannfen Clothing Co., Ltd. to produce underwear, which is also today's Huijie.

At this time, more and more people have noticed the opportunity to the underwear market. In 1998, Zheng Yaonan, a young man in Fujian, who had been a security guard and opened a cosmetics store, established a company called the city of cities.

After a year, Zhou Feng, the owner of the weight loss food business, aimed at the function of the underwear market and also started a female underwear business.

Since then, it is these brands that have divided the main share in the domestic underwear market.

In 2014, urban beauties became the "first share of underwear" listed in Hong Kong. Since then, Huijie, An Lifang, and admiration have also been listed in the capital market.

(Picture source network)

Traditional underwear brands have gained a lot in this underwear war. But when the elephant is not easy to turn around. When the market changes come, the traditional underwear brand has also ushered in the "dark moment".

Since 2017, underwear giants admire, Huijie, An Lifang and urban beauty have all developed a slow operating income growth and a decline in net profit. From 2017 to 2019, I admired net profit from 556 million yuan to 334 million yuan, down nearly 40 %.

As early as 2016, the urban beauty had both revenue and profit declined. In this regard, the urban beauty explained that the demand for bracelets and no steel rims and branches has increased greatly, and micro -business can quickly respond to and seize this opportunity at the supply and marketing level. In addition, the supply of agricultural industrial and commercial products is also affected by micro -business, which has caused serious lack of such products, which greatly affects sales.

Behind traditional underwear giants is that the underwear market is setting off a new round of war, and this new Rui underwear brand has become the protagonist.

No size underwear, emerging underwear brands are stirred

Some rookie underwear brands began to emerge in 2012 and after, but it really set off a new wave in 2020.

Under the effects of women's needs for release, as well as multiple factors such as the outbreak growth of the epidemic and the post -epidemic period, the demand for underwear products has begun to change from functionality such as gathered, and the market -free underwear market has risen rapidly.

At this time, brands that focus on sizes -free underwear and steel ring underwear just poked the women's "heart babies".

Established in 2016, UBRAS focuses on no size. It can meet the needs of most women through a single product, and breaks the pain points of "size inaccurate and non -refund" sold on online underwear. Under the blessing of the environment, with a set of marketing portf boxing with "KOL grass+anchor with goods+star endorsement", it quickly and firmly occupy the user's mind. Brand revenue has increased from 170 million yuan in 2019 to the increasing increase to increased from 170 million yuan in 2019 to 1.5 billion yuan in 2020.

Banana in the Banani Tech Technology Company was also established in 2016. Starting from innovative, labelless and non -sensing underwear, adheres to the "body sensation 24 hours" route, in order to enhance consumer body sensing experience.

Internal and external do not have no steel rings, emphasizing the balance of comfort, function and beauty, and quickly circle powder in the underwear market.

A crowd of emerging brands broke the previous "steel ring underwear" design. Through steel -free and size curve overtaking, it finally achieved later. According to public information, in the 2019 Tmall Double 11 underwear sales list, the top five brands are Antarctic, Uniqlo, Hengyuanxiang, Mannfen, and Cats, all of which are traditional underwear brands. Mainstream.

But by 2020, UBRAS and Banana have jumped in one or two, which truly set off a wave of no -size underwear.

(Picture source CBNDATA)

Since then, no matter the new and old brands have joined the battle of size -free underwear.

In the old -fashioned underwear, I admired the launch of the steel -free underwear brand "Xixi" in 2018. Urban Beauty launched zero -sensing underwear in March 2021, and Wei Mi also launched steel -free underwear in 2016.

The emerging brand performance is even less inferior. According to the company's investigation data, in 2020, there are newly received financing of roughly, such as toffees, plain muscles, Ubras, Banana, and Maia Active. In July 2021, it was announced that it had completed $ 100 million in Series D financing.

In the sales rankings of Tmall underwear categories 618 this year, the emerging underwear brands are still rushing to the front. The top three brands are bananas, UBRAS, and trees, all of which are new underwear brands. The traditional giants used the river and mountains for thirty or forty years, but in just a few years, it was easy to master. In the final analysis, it was that the emerging brand cut into the real needs of the current underwear market, and the design of the traditional brand has quietly obsolected but did not know it.

New and old brands have been tricked, and there is no foregone conclusion

Does this mean that in the future is the world of New Rui underwear brand?

uncertain.

The size -free underwear does not achieve real size freedom in nature. It is still only targeted at a certain part of a group. On Tmall, UBRAS's size of underwear is marked, and the conventional version is suitable for 100-130 catties/A-C cup; the same is true of underwear with trees, and the size is marked as average (A-C Cup/90-130 catties).

(Screenshot of Ubras Tmall flagship store)

At the moment without size underwear, it is easy to be considered to be applicable, but in fact, it is not friendly for large -size women, and the demand for large -size underwear is still not satisfied.

According to public information, the market demand for large -size underwear is large enough, but related product design has not received much attention. It was not until these years that the segmentation of large -size underwear gradually appeared in players. In 2015, the millet faction focused on the big cup of bra. The toffee school has received a lot of attention online and is regarded as a gospel by many large -size women. But in the capital market, players such as non -standard segmentation of coffin do not eat incense. The founder once admitted that the initial entrepreneurial financing was very difficult, and it was not easy to get 1.8 million to start funds.

In addition, whether a sizeless underwear is conducive to the development of women's breasts, there are actually many controversy in the industry.

Shangyin has analyzed that in order to "cater" consumer needs and "solve" their pain points, the professionalism of the bra itself has been abandoned to a certain extent. The excessive pursuit of capital -free underwear will only make it difficult for consumers to understand their really suitable underwear. In the long run, it will affect women's understanding of breast health.

Judging from these two points, the emerging brand holds "no size underwear", but it seems that there is no way to become their powerful shields, and it is more likely to be just a stage springboard. In the future, the test may continue to develop more underwear products suitable for different women. Whoever can subvert will become the next winner, even if it is subverted.

Judging from the catch -up of traditional underwear brands, the situation is indeed the same.

Some people in the industry have pointed out that the emerging underwear brand does not have core products. The development of steel -free underwear products developed emphasizes comfort, which can be replaced and loyal. "When they lack a core product with a particularly high repurchase rate, just like all Internet brands, they are the most prone to explosion models, but how long it takes time to verify."

This is also one of the reasons why UBRAS is closer to Uniqlo models, increasing the product structure, or bringing more healthy and stable business models.

Although traditional underwear brands have fallen behind in the renewal iteration of underwear, the supply chain capacity and offline channel capabilities accumulated for decades are still their valuable assets. As mentioned by Shangyin Society, in the face of the provocation of Houlang, there is no steel ring, no size or label, as long as traditional brands have reacted, developing a new production line to follow up with new products is just the energy and energy of water. Kung Fu, relying on the advantages of the supply chain, can also achieve lower prices, still has the advantages of old -fashioned craftsmen.

From this point of view, China's underwear war has just torn off.

Reference materials:

1. Shangyin Society: Chinese bra war, it broke out

2. City boundary: underwear giants are no longer sexy

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