Rising Investment in Chinese Lingerie Startups Today
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- 来源：CN Lingerie Hub
China's intimate apparel market is undergoing a quiet revolution — and investors are taking serious notice. Once dominated by global giants like Victoria's Secret, the scene has shifted dramatically. Homegrown lingerie startups are not just filling the gap; they're redefining what underwear means for modern Chinese women.
Gone are the days when function ruled over fashion. Today’s consumers want comfort, inclusivity, and self-expression — and Chinese brands are delivering exactly that. From gender-neutral designs to body-positive messaging, these startups are winning hearts (and wallets) with authenticity.
Take NEIWAI (内外), for example. Since its launch in 2014, NEIWAI has raised over $100 million in funding, including backing from Sequoia Capital China. The brand’s minimalist aesthetic and bold campaigns — like their viral “No Body is Nobody” slogan — resonate deeply with urban millennials and Gen Z shoppers.
Another rising star? Ubras. Known for its seamless, wire-free bras, Ubras pulled in a staggering ¥500 million ($70M) during the first hour of Singles’ Day 2020. Their success isn’t accidental — it’s data-driven, digitally native, and laser-focused on real customer needs.
Why Investors Are Betting Big
The numbers speak for themselves. According to iiMedia Research, China’s lingerie market hit ¥186 billion ($26B) in 2023, with an annual growth rate of 9.4%. But more importantly, consumer behavior is shifting:
- Women now control over 70% of household spending decisions
- 85% prefer comfort over push-up padding
- Social media drives 60% of purchase decisions in this category
Investors see these trends as golden opportunities. In the past three years, venture capital funding for Chinese lingerie startups has grown by over 200%, with Series A rounds averaging $15–25 million.
Market Leaders & Funding Snapshot
| Brand | Founded | Total Funding | Key Investors | Notable Campaign |
|---|---|---|---|---|
| NEIWAI | 2014 | $100M+ | Sequoia China, Source Code Capital | No Body is Nobody |
| Ubras | 2016 | $80M+ | Ceyuan Ventures, GGV Capital | First Hour ¥500M Sales (2020) |
| Particle Fever (Lingren Shidai) | 2016 | $60M+ | Qiming Venture Partners | Fitness x Lingerie Fusion |
What sets these brands apart isn’t just design — it’s digital fluency. They leverage Douyin, Xiaohongshu, and WeChat to build communities, not just sell products. User-generated content, influencer collabs, and real-body modeling are standard practice.
The Road Ahead
The future? Even bolder. As ESG and sustainability gain traction, expect more eco-friendly fabrics, ethical production, and inclusive sizing. And with AI-powered fit recommendations and virtual try-ons entering the mix, the shopping experience is getting smarter.
For investors, the message is clear: Chinese lingerie startups aren’t just trending — they’re transforming. This isn’t just about bras and panties. It’s about identity, empowerment, and a cultural shift stitched into every seam.