Temptation Of 100 Billion Yuan Business Opportunities Capital Favors Comfortable Underwear

Comfortable underwear is not sexy, but the business is sexy.

Recently, a round of financing of tens of millions of yuan has been completed for Suji products, which mainly focuses on comfortable underwear without steel rims, invested by Zhonghui capital and acted as financial consultant by Zhiyuan capital. Mai Xianqian, founder of Suji liangpin, said: "the funds will be used to invest in new product research and development and user experience upgrading. In the future, more high-end non sensory underwear products with high threshold will be developed."

"The reason why we chose plain muscle products is that, first of all, from the perspective of the market, this track represents a new consumer demand trend, and the future is a bright and broad market." Suji liangpin this round of investors Zhonghui capital said so.

Under the traditional aesthetic concept, haughty bust is beauty, and the steel ring underwear with gathering function emerges as the times require. This concept is being abandoned by more and more women. Female consumers are not concave curve when choosing underwear, but more consider their own comfort and health. Behind this is an "internal" consumption upgrade.

Capital favors comfortable underwear

With the awakening of women's self-consciousness, "body anxiety" is gradually unable to sell.

In recent years, many new brands have been born in the underwear industry, and comfortable rimless has become the mainstream trend. In addition to Suji liangpin, many brands have also obtained financing. Among the investors, there are many star institutions such as Sequoia and Zhenge.

For example, ubras, which was established in 2016, mainly focuses on vest type underwear without steel rims and size-free underwear. In 2018, it obtained a round a financing of 50 million yuan from today's capital. In September 2020, ubras completed a round of B + financing of hundreds of millions of yuan, led by Sequoia Capital China fund and followed by today's capital.

The underwear brands that started online have been in the forefront of tmall's underwear sales. Since its establishment in 2012, it has obtained several rounds of financing, and the total amount of financing has exceeded 300 million yuan. In April 2015, angel round financing was completed inside and outside, with Zhenge fund as the investor and the financing amount was 10 million yuan. In subsequent rounds of financing, Kai Fu capital, Huaqiang capital and other institutions joined. In October 2019, round C financing will be completed internally and externally, with an amount of up to 150 million yuan. The investor is Qiming venture capital. In the first half of 2020, a new round of financing will be completed at home and abroad, with Tianyi capital as the investor.

Bananin, which started with men's underwear, has also entered the field of women's underwear. In March 2016, jiaonei completed an angel financing of 10 million yuan, with Zhong Ding capital as the investor. In November 2020, jiaonei completed a round of financing of several hundred million yuan, with Yuansheng capital as the investor.

China's women's underwear market is undoubtedly very huge.

Euromonitor, an international authoritative organization, predicts that by 2022, the size of China's women's underwear market will reach 1973 billion yuan. According to AI media consulting data, China's underwear consumption demand will reach 16.77 billion pieces in 2019, and it is expected to exceed 17 billion pieces by the end of 2020.

In this huge market, the trend of rimless underwear is rising.

According to the underwear industry trend research released by cbndata, the rimless underwear market will break out in 2017, with a growth rate of nearly 50%. Most of the consumers are post-90s, and the growth rate of post-95 consumers is also very considerable.

According to AI Media Consulting survey data, in 2020, 76.6% of Chinese consumers prefer rimless underwear.

On the other hand, there are more than 3000 underwear brands in our country, and the industry is relatively scattered and the brand concentration is low. According to Euromonitor data, the market concentration of top 5 brands in China's underwear market in 2018 was only 6.6%. According to the monitoring data of China's offline retail channels by the China Federation of Commerce and the China National Business Information Center, even if the market share of love is the highest in 2019, it only occupies 7.34% of the market share.

As for the reasons for this phenomenon, Mai Xianqian believes that China's underwear started late, with serious homogenization of products, lack of cognition, lack of innovation spirit, weak brand, aging channels and lack of leading brands.

"The new generation of female consumers' recognition of self-worth is born with the idea that wearing underwear is only for their comfort and happiness. At present, there is a serious lack of products and brands that can solve the pain points of new consumers and meet the physical and mental needs of the new generation. " Mai Xianqian told reporters.

Abandoning the steel circle, where is the new growth point of underwear industry?

The target users of Suji liangpin are the new generation of young female users. "These users are more in pursuit of quality of life and consumption experience, and are more willing to try high-quality products, and show their attitude and opinions on life through the sense of scream and experience." Mai Xianqian analyzed this way.

Zhonghui capital also believes that Suji liangpin knows users well, and its products meet the changes of market demand. With good design and product quality, Suji products can accurately grasp the needs and minds of a number of subdivided users.

Ten years ago, Mai Xianqian entered the women's underwear industry to start a business, initially as a high-end underwear design studio. By providing underwear product design and high-end supply chain docking for overseas brands, Mai Xianqian established in-depth contact with many international first-line light luxury underwear brand suppliers. In 2016, Suji liangpin was officially established, and its main product is comfortable rimless underwear.

According to Mai Xianqian, the underwear with steel rims and underwear without steel rims are too worn. What plain muscle products create is a third solution between steel rimmed underwear and non steel rimless underwear soft support. "We have created a kind of underwear called" plain muscle jelly strip ". The plain muscle jelly strip hidden in the underwear interlayer can replace the traditional steel ring, but it still retains its functionality. Plain muscle is an upgraded version of the rimless underwear, which will not have the bondage of traditional underwear, but also has stable support

The rimless underwear not only has better user experience, but also has more advantages in the production process. The reporter learned in the industry that the production process of steel ring underwear is complex and the number of SKUs is large. However, the production process of underwear without steel ring is more standardized, which is easier to realize digital management, and has multiple advantages in the future industry competition.

The new trend of underwear consumption is most obvious in this year's double 11 and double 12. The top two brands in tmall's double 11 underwear sales list are ubras and bananin jiaonei. According to the relevant person in charge of jiaonei, by the end of the double 11 nights in 2020, the turnover of jiaonei will exceed 220 million yuan in 2020. In the sales list of tmall's double 12 bra categories, the flagship store of Suji liangpin ranks ninth.

Maixianqian predicts that the brand concentration of underwear industry will be improved in the future, and many differentiated head brands will be born. The head brand in the future should be a "new sharp brand that conforms to the value proposition of the new generation, has differentiation and can move users."

In the context of consumption upgrading, what new brands will emerge? It is worth looking forward to.

?