Core Insights - The retail industry in China is experiencing intense competition, with cross-industry integration becoming a key strategy for brands to achieve growth in a saturated market [1] - Brands are increasingly moving beyond traditional boundaries, utilizing cross-industry innovation to explore new consumer demands and retail formats [1] Group 1: Cross-Industry Innovations - Kudi Coffee has entered the fast-food sector by launching hot meal options in select Beijing stores, aiming to enhance store efficiency and customer traffic through a "coffee + hot food" model [2][3] - Armani has opened its first restaurant in Beijing, offering a unique dining experience that combines luxury branding with a relatively affordable average spend of 354 yuan per person [4][5] - Haidilao has launched a new brand, "Haini," focusing on beef hot pot, as part of its multi-brand strategy to find new growth avenues beyond traditional hot pot offerings [6] Group 2: Market Adaptations - Ningji has introduced grilled sausage products priced at 4 yuan each to complement its lemon tea offerings, aiming to increase customer spending and overall sales [7] - Haidilao has also ventured into the bakery sector with its brand "Schwasua," offering products primarily priced under 10 yuan, leveraging its supply chain advantages [8] - Prada has opened its first independent restaurant in Asia, integrating Italian and Chinese culinary traditions, marking a significant step in luxury brand engagement in the dining sector [9][10] Group 3: Strategic Expansions - Hailan Home has established a beverage company to enter the bottled water market, responding to declining profits in its core clothing business [11] - Zuli Jian has opened an organic food store, selling frozen dumplings at competitive prices, as part of its strategy to diversify and address financial challenges [12] - Wuliangye has launched a new craft beer brand, "Fenghuolun," incorporating its traditional liquor-making techniques, reflecting a trend of traditional alcohol companies seeking new growth opportunities [14] Group 4: Industry Trends - The cross-industry trend in retail is characterized by deeper integration of core capabilities rather than simple category additions, as seen with Haidilao and Wuliangye [17] - Brands are targeting specific consumer groups more effectively, such as Kudi Coffee's focus on all-day dining and Zuli Jian's appeal to older consumers [17] - Luxury brands are using dining experiences to convey lifestyle aesthetics, while mass-market brands are leveraging cross-industry strategies to overcome growth challenges [18]

炒股就看金麒麟分析师研报，权威，专业，及时，全面，助您挖掘潜力主题机会！ 1月8日，日前，有网友在社交平台发帖称，在一家商场看到Miu Miu的满钻"围裙"，一条售价高达15.2 万元，引发消费者热议。 有网友戏称此举"满足了有钱人体验保姆生活的愿望"、"看不懂的时尚"，也有人调侃道："Miu Miu可能 今年没有业绩压力吧。" 公开资料显示，该款围裙式连衣裙属于Miu Miu2026春夏系列。此系列时装秀以"At Work"（职业叙事） 为核心主题，在巴黎耶纳宫举行，由创意总监Miuccia Prada主导，通过时尚语言探讨女性劳动的价值与 多重身份。本季将围裙这一"职业的普世符号"作为核心设计元素，从家务、工业到护理、艺术创作等场 景延伸。 新浪声明：新浪网登载此文出于传递更多信息之目的，并不意味着赞同其观点或证实其描述。文章内容 仅供参考，不构成投资建议。投资者据此操作，风险自担。 责任编辑：宋雅芳 炒股就看金麒麟分析师研报，权威，专业，及时，全面，助您挖掘潜力主题机会！ 对此，Miu Miu官方精品店客服向《贵圈》栏目表示，"非常抱歉本店暂无此款商品，没有任何信息可 以查询到的。"谈及是否还有类似同款 ...

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 | 截至月份: | 2025年12月31日 | | | | 狀態: 新提交 | | --- | --- | --- | --- | --- | --- | | 致：香港交易及結算所有限公司 | | | | | | | 公司名稱: | PRADA S.p.A. | | | | | | 呈交日期: | 2026年1月5日 | | | | | | I. 法定/註冊股本變動 | | | | | | | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | 於香港聯交所上市 (註1) | 是 | | 證券代號 (如上市) | 01913 | 說明 | | | | 本月底法定/註冊股本總額： EUR 255,882,400 FF301 第 1 頁 共 10 頁 v 1.1.1 法定/註冊股份數目 面值 法定/註冊股本 上月底結存 2,558,824,000 EUR 0.1 EUR 255,882,400 增加 / 減少 (-) 0 EUR 本月底結存 2,558,824,000 EUR 0.1 EUR 255,882,400 FF301 ...

文 ｜ 酷乐志 假日季来临，Prada于Prada荣宅花园呈现圣诞主题限定活动；同时，由Prada携手著名导演王 家卫共同构思的精致餐饮项目迷上Prada荣宅推出冬季菜单以及节日季专属企划。 主菜部分延续传统与创新的风格。经典菜炖牛肉象征着意式菜肴的醇厚，而甘鲷料理则突显 鱼肉本身的细腻风味。冬季菜单更推出带来慰藉与惊喜的甜点：清爽的西西里传统冰淇淋， 无可替代、风味至臻的提拉米苏，以及散发质朴优雅气息的梨子塔。甜度皆考量本地食客偏 好，以适宜的甜度为美食体验画上点睛之笔。 专属节日菜单及迷人圣诞市集 迷上Prada荣宅冬季菜单亮点呈现 迷上Prada荣宅的空间设计中，王家卫汲取邮学中两枚邮票彼此倒置、镜像共生的"对倒"概 念，将其诗意朦胧的视觉意象注入。整个空间内敛设计元素与详尽细节处理交相融合，装饰 陈设甄选自Prada艺术藏品，错落于中式古董家具之间，将Prada、上海与米兰之间悠远动人 的文脉共鸣娓娓道来。 Riccardo La Perna担任餐厅行政主厨，曾辗转于上海与澳门银河的8½ Otto e Mezzo BOMBANA。由于开始探索更为健康的生活方式，接管迷上Prada荣宅后，Riccard ...

智通财经APP获悉，麦格理发布研报称，在纳入汇率逆风因素后，对普拉达(01913)2025至2027年各年净 利润预测分别下调1.5%、1.3%、1.3%; 并基于不变的2025年预估20倍市盈率，将目标价下调2%，从60 港元降至59港元，评级跑赢大市。 按固定汇率计算，预计普拉达今年第四季度将实现零售同比增长7%;若按列账汇率计算，零售额、集团 销售额将分别同比增长0.2%、0.9%;该行又认为，市场对其副线Miu Miu增长放缓的担忧过度，因该品 牌在过去两年实现约150%的增长，且管理层对集团资产负债表状况感到满意，因其每年可产生10亿欧 元的自由现金流，并计划维持50%的派息率。 麦格理预计，在宏观不确定性下和市场份额提升情况下，集团今年第四季度将展现韧性，并相信Prada 品牌因销售转换率提高，持续看到其按季改善，预计其第四季度零售额将年增1%。而Miu Miu在第四季 度的零售额将实现稳健20%同比增长，但考虑到该品牌的市场渗透率仍然不足，其计划明年扩充零售楼 面10%至15%的举措可能成为增长动力。此外，集团预计Versace在明后两年，每年拖累公司5,000万至1 亿欧元的息税前利润，麦格理 ...

Group 1 - Macquarie has adjusted Prada's net profit forecasts for 2025 to 2027 down by 1.5%, 1.3%, and 1.3% respectively, considering currency headwinds [1] - The target price for Prada has been reduced by 2% from HKD 60 to HKD 59, while maintaining an outperform rating based on a 20x P/E ratio for 2025 [1] - For the fourth quarter, retail sales are expected to grow by 7% year-on-year at constant exchange rates, while reported retail and group sales are projected to increase by 0.2% and 0.9% respectively [1] Group 2 - The group is expected to show resilience in the fourth quarter amid macro uncertainty and market share gains, with a projected 1% year-on-year increase in retail sales for the Prada brand [2] - Miu Miu is anticipated to achieve a robust 20% year-on-year growth in retail sales for the fourth quarter, with plans to expand retail space by 10% to 15% next year, which may drive further growth [2] - Macquarie believes the forecasted EBIT impact of EUR 50 million to 100 million from Versace over the next two years is conservative and has potential for upside [2]

Group 1 - Macquarie published a report on Prada, lowering the target price but maintaining the rating [1] - For the fourth quarter, retail sales are expected to grow by 7% year-on-year at constant exchange rates, while retail and group sales are projected to increase by 0.2% and 0.9% year-on-year at reported exchange rates, respectively [1] - Concerns regarding the slowdown in the growth of the Miu Miu brand are considered excessive, as it has grown approximately 150% over the past two years [1] Group 2 - Management is satisfied with the group's balance sheet, generating €1 billion in free cash flow annually and planning to maintain a 50% dividend payout ratio [1] - Due to adverse currency effects, Macquarie has lowered its net profit forecasts for the group for 2025-2027 by 1.5%, 1.3%, and 1.3% respectively [1] - The target price has been reduced from HKD 60 to HKD 59 based on an unchanged 20x price-to-earnings ratio for 2025, with a rating of "outperform" [1]

麦格理发表研报指，按固定汇率计算，预计普拉达第四季度零售按年增长7%；若按列账汇率计算，零 售额、集团销售额将分别按年增长0.2%、0.9%。该行又认为，市场对其副线Miu Miu增长放缓的担忧过 度，因该品牌在过去两年实现约150%的增长，且管理层对集团资产负债表状况感到满意，因其每年可 产生10亿欧元的自由现金流，并计划维持50%的派息率。在纳入汇率逆风因素后，麦格理对集团2025至 2027年各年净利润预测分别下调1.5%、1.3%、1.3%；并基于不变的2025年预估20倍市盈率，目标价从 60港元降至59港元，评级"跑赢大市"。 ...

（文章来源：每日经济新闻） 每经AI快讯，普拉达(01913.HK)早盘跌超5%，截至发稿，跌4.8%，报44.84港元，成交额1308.04万港 元。 ...

Core Viewpoint - Prada's stock has seen a decline of over 5%, currently trading at 44.84 HKD, with a trading volume of 13.08 million HKD, as analysts express concerns about the brand's ability to maintain growth amidst a new wave of creativity in the luxury fashion sector [1] Group 1: Brand Performance - Morgan Stanley reports that while the Prada brand remains robust, the growth rate of the Miu Miu brand is expected to slow significantly, with a projected year-on-year growth of only 17% in Q4, down from 29% in Q3 and 49% in the first half of the year [1] - Citigroup forecasts that Prada's sales for Q4 FY2025 will see a year-on-year increase of 6% at constant exchange rates, but a reported decline of 1% to 1.59 billion EUR [1] - Retail sales by brand are expected to remain flat for Prada (with a 1% decline in Q3) and a 20% year-on-year growth for Miu Miu (down from 29% growth in Q3) [1] Group 2: Financial Projections - The EBIT for the second half of the year is projected to decline by 3% to 685 million EUR, with the EBIT margin expected to narrow by 100 basis points to 23.4% year-on-year [1]