die Schlappe
defeat / setback
A clear defeat, failure, or setback, often in a competition or conflict.
Die Partei musste bei der Wahl eine herbe Schlappe einstecken.
The party had to suffer a severe defeat in the election.

defeat / slipper
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defeat / setback
A clear defeat, failure, or setback, often in a competition or conflict.
Die Partei musste bei der Wahl eine herbe Schlappe einstecken.
The party had to suffer a severe defeat in the election.

'Die Schlappe' is related to the adjective 'schlapp' (weak, tired). A defeat ('Schlappe') makes you 'schlapp', and a house slipper ('Schlappe') is a 'schlapper' shoe, meaning a soft and shapeless shoe.
Nach dieser herben Schlappe fühlte sich die ganze Mannschaft schlapp.
After this severe defeat, the whole team felt weak.
You can easily recognize the meaning from the context. If it is about competition, sports, or politics, a defeat is meant. If it is about clothing, feet, or the home, the shoe is meant, which is often used in the plural ('Schlappen').
Die Regierung erlitt eine schwere Schlappe bei der Abstimmung.
The government suffered a serious defeat in the vote.
For the meaning 'Niederlage' (defeat), there are fixed verb combinations such as 'eine Schlappe einstecken' (to suffer a defeat), 'eine Schlappe erleiden' (to suffer a defeat), or 'eine Schlappe kassieren' (to take a defeat). It is often accompanied by adjectives like 'herb' (severe), 'bitter' (bitter), or 'deutlich' (clear).
Der Favorit musste im Finale eine unerwartete Schlappe einstecken.
The favorite had to suffer an unexpected defeat in the final.
success
'der Erfolg' and 'die Schlappe' are opposites when talking about outcomes. 'Erfolg' means that something succeeds or that a goal is achieved. 'Schlappe' refers to a clear defeat or setback, often in sports, a competition, or a conflict. 'Schlappe' sounds less formal and emphasizes that the result was disappointing. When a goal has been achieved, you talk about 'Erfolg'; when there has been a clear defeat, you talk about 'eine Schlappe'.

Nach der klaren Schlappe im Finale war die Mannschaft sehr enttäuscht.
After the clear defeat in the final, the team was very disappointed.
Der Erfolg der Bewerbung machte Anna sehr glücklich.
The success of the application made Anna very happy.