存在感越来越强的校招宣讲会，有必要去吗？ Offer可以没有羊毛不能不薅，宣讲会成进货会了? 最近，全球奢侈品巨头LVMH集团在复旦大学的一场宣讲会，就击碎了不少学生的滤镜： "没有干货只有公关话术""严重超时还索要学生2年肖像权"，奢侈奢侈，原来"奢侈的只有空话和作秀"。 9月23日下午五点，诺曦和3个朋友提前1.5小时到达LVMH复旦校园分享会门外，排队等候。提前到达的不止她们，"五点到五点半这个时段，就排了有二 三十人。" 秋，大自然的收获季，大学生的受难季。 低年级的一边忙着实习一边忙着观察前辈们的秋招态势，为日后积累经验；高年级的一边忙着实习一边忙着写论文一边忙着秋招，宛如一块滚刀肉在招聘 的砧板上被来回碾。 你在网申的艳阳里大雪纷飞，我在双选的寒夜里四季无春。 眼下秋招如火如荼，企业校招宣讲会随之又成了热门话题。 有的企业人手一份精致伴手礼被夸"豪气"，有的企业大讲特讲品牌理念被喷"假大空"；有人说去宣讲会纯当"薅羊毛进货"，有人问宣讲会"不收简历不面 试还有啥意义"。 诺曦当时刚刚从楼上名创优品宣讲会上赶过来，想着这时间点正好，因为不管从自己的经验还是前辈的经验来看，雅诗兰黛、欧莱雅等同样与"美 ...

里昂发表研报指，整体而言，观察到假日期间消费趋势存在分化。旅游需求保持强劲，跨区域总出行量 按年增6.9%。奢侈品行业持续改善，受惠于更容易的比较基数、更针对性的客户开发及商场促销活动 增加。然而，里昂注意到电影票房和运动服饰表现低迷。对于黄金珠宝，销售受惠于金价上涨，但整体 销量偏淡。里昂的首选股包括奢侈品集团LVMH、历峰(Richemont)、颖通控股和安踏体育。 ...

格隆汇10月6日｜花旗集团：将路威酩轩(LVMH)目标价从635欧元下调至630欧元。 ...

Core Insights - Berluti, a luxury brand under LVMH, remains profitable even as LVMH's overall revenue declined by 4% and net profit fell over 22% in the first half of 2025, with estimated annual sales around €150 million [1][24] - The brand is recognized as a symbol of "old money" and has a unique identity tied to its craftsmanship and exclusivity, appealing to a select group of wealthy clients [1][24] - Berluti faces challenges as the luxury market shifts towards younger and more diverse consumers, questioning whether it can maintain its business model reliant on a small elite clientele [1][24][25] Company Performance - Berluti's CEO Jean-Marc Mansvelt stated that the brand is thriving and performing significantly better than the average within LVMH [1] - Despite LVMH's overall downturn, Berluti is one of the few brands that achieved profitability [1] - The brand's pricing strategy remains robust, with ready-to-wear shoes priced between ¥20,000 and ¥40,000, and custom lines reaching upwards of ¥100,000 [24][25] Brand Identity and Customer Base - Berluti is known for its unique "Berluti Knot" shoelace technique, which serves as a subtle marker of identity among its wearers [5][8] - The brand's history dates back to 1895, founded by Alessandro Berluti, and is renowned for its artisanal craftsmanship and the Patina dyeing technique [8][16] - Berluti's clientele includes influential figures from politics, business, and the arts, reinforcing its status as a luxury brand [16][17] Market Position and Strategy - Berluti has maintained a low-profile yet high-profit business model, focusing on a concentrated target market of high-net-worth individuals [24][25] - The brand has expanded into ready-to-wear clothing since being acquired by LVMH in 1993, aiming to become a comprehensive menswear luxury brand [21][24] - Berluti's sales strategy emphasizes customer loyalty and emotional connection, offering services like "creative recycling" and online tutorials to enhance customer engagement [27] Challenges and Future Outlook - The luxury market is evolving, with younger consumers seeking personalized and sustainable options, posing a challenge for Berluti's traditional aesthetic [25][28] - The brand's slow expansion and conservative product offerings may alienate a younger audience accustomed to fast fashion and trend-driven purchases [25][28] - Berluti's future profitability hinges on its ability to adapt to changing consumer preferences while maintaining its core values of exclusivity and craftsmanship [25][28]

Silvia Venturini Fendi is stepping down from LVMH label Fendi and becoming honorary president of the fashion house, the French luxury group said on Monday. ...

Group 1: Major Corporate Changes - L'Oréal announced significant adjustments to its executive committee, with new appointments set to take effect in January 2026, aiming to enhance its strategic focus in the U.S. market [2] - Estée Lauder is undergoing a substantial salary reduction for its executive team, with a total annual compensation decrease of 28% for FY2025, reflecting a collective compromise amid poor performance and declining stock prices [3] - Burberry's global procurement and marketing director has left the company, indicating challenges in retaining key executives during its transformation strategy [11] Group 2: Market Performance and Reactions - H&M reported better-than-expected Q3 results for FY2025, with net sales increasing by 2% year-on-year, leading to a 10% surge in stock price [6][5] - Brunello Cucinelli's stock plummeted by 15% following allegations of regulatory violations in the Russian market, highlighting the fragility of luxury brand valuations [7] - LVMH continues to expand its media asset portfolio, indicating a strategic move to enhance its influence in the media landscape [9] Group 3: Strategic Developments - Ralph Lauren secured a significant legal victory in China, confirming its "POLO" trademark as a well-known brand, which strengthens its position in the market [4] - LVMH's Kendo has sold its beauty brand KVD Beauty to Windsong Global, marking its first brand sale and a shift in strategy to streamline its offerings [9] - Reports suggest that L'Oréal is primarily interested in retaining only the profitable beauty business of Armani, with a licensing agreement extended until 2050 [13]

Core Viewpoint - The fashion industry is increasingly venturing into the beauty sector as a response to declining sales, with several major brands launching beauty products to explore new growth opportunities [3][10][46]. Group 1: Fashion Brands Entering Beauty - In September 2025, major fashion brands like Gap, Zara, and H&M announced significant moves into the beauty industry, indicating a trend among fashion companies to diversify their product offerings [5][16]. - Gap Group plans to launch beauty products in 150 Old Navy stores, with some featuring beauty consultants, aiming to leverage its financial stability for growth [12][10]. - Zara has introduced its first hair care line, including shampoo and conditioner, marking its entry into the hair care segment after previously launching cosmetics and fragrances [15][14]. Group 2: Performance of Fashion Brands - Gap Group reported a 4.85% increase in net sales for Q2 2024, ending a three-year decline, but the growth rate has slowed significantly compared to previous years [7][10]. - Zara's parent company, Inditex, experienced a modest 1.6% sales growth in H1 2025, with Zara itself showing the slowest growth in five years at 0.9% [13][14]. - H&M's net sales fell by 1.87% in the same period, with a notable decline in net profit, indicating a downward trend for the brand [16][17]. Group 3: LVMH's Beauty Strategy - LVMH launched its own beauty brand in 2025, with a focus on luxury makeup products, including 55 lipstick shades, aiming to enhance its beauty segment's profitability [32][33]. - Despite the launch, LVMH's overall sales and profits saw significant declines in H1 2025, with a 4.48% drop in net sales and a 21.59% decrease in net profit [34][35]. - The beauty segment's operating profit margin remains lower than the group's average, highlighting challenges in achieving profitability through self-created beauty brands [39][40]. Group 4: Designer Brands and Fragrance - Designer brands are increasingly entering the fragrance market, with several launching new perfume lines in collaboration with established fragrance companies [20][22]. - The trend reflects a broader strategy among fashion brands to transform into lifestyle brands, leveraging their design expertise while outsourcing production and distribution to fragrance giants [22][24]. - Notably, Christian Louboutin's fragrance line, managed by Puig, has faced challenges, with its makeup segment experiencing a decline in sales [30][28]. Group 5: Market Outlook and Challenges - The collective move into beauty by fashion brands raises questions about the sustainability of this strategy amid economic downturns [46]. - The beauty market's appeal remains strong, but the success of these ventures will depend on the brands' ability to adapt and innovate in a competitive landscape [46].

Group 1 - LVMH is increasing its expansion efforts in South Korea to diversify its global business due to geopolitical and economic uncertainties affecting major markets like the US [1] - The flagship stores of Louis Vuitton and Dior in Seoul's Cheongdam area are set for expansion, with Dior's renovation possibly starting in 2027, including a permanent restaurant [1] - Bulgari is considering opening its first flagship store in South Korea, while Tiffany's flagship store is scheduled to open in Cheongdam in 2027 [1] Group 2 - The South Korean market is seen as a bright spot for luxury brands due to strong consumer love for luxury goods, economic resilience, and high consumer confidence [1] - Sales of Louis Vuitton, Hermès, and Chanel in South Korea grew nearly 10% last year, reaching $3.3 billion [1] - The increase in luxury sales is also driven by a surge in tourists from China and Japan, along with the depreciation of the Korean won, with tourist spending reaching a record 9.26 trillion won (approximately $6.6 billion) last year [1] Group 3 - Other luxury brands are also optimistic about the strong demand in the South Korean market, with Richemont reporting a 20% sales increase in Korea for the fiscal year ending in March [2] - Richemont opened a new flagship store for its Swiss watch brand Vacheron Constantin in Seoul, featuring Korean art exhibitions and private lounge spaces [2] - Hermès has relocated and expanded its flagship store in Seoul, reopening in August [2]

Market Overview - French stocks are experiencing weakness due to concerns about the Federal Reserve's rate cuts and high equity valuations as noted by Fed Chair Jerome Powell [1] - The benchmark CAC 40 index is down 20.34 points or 0.26% at 7,851.68 [2] Company Performance - Stellantis is the biggest loser in the CAC 40 index, down 3.4% [2] - Hermes International has decreased nearly 2%, while Renault, EssilorLuxottica, Capgemini, L'Oreal, Euronext, Publicis Groupe, and Saint Gobain are down between 1% to 1.7% [2] - LVMH and Pernod Ricard are both down nearly 1% [3] - Atos SE shares have increased by 4.7% after securing a major cybersecurity contract from the European Commission [3] - Carrefour is gaining approximately 2.3%, while Thales, Bouygues, Kering, and Legrand are up between 1.3% to 1.6% [3]

Core Points - The current wealth tax proposal in France is primarily politically motivated, aiming to address widespread anxiety over wealth distribution in society [1] - The wealth tax debate has resurfaced as a central political issue in France, with significant public demonstrations against government austerity measures [3][4] - The proposed "Zucman tax" targets individuals with net assets exceeding €100 million, suggesting a minimum tax rate of 2%, potentially generating between €10 billion to €25 billion in revenue [1][3] - The wealthiest 75 families in France pay an effective tax rate that is only half of the next income tier, indicating a regressive tax system [5] - Critics warn that the wealth tax could lead to capital flight, as seen in previous attempts to tax the wealthy [5][6] Industry Insights - The wealth tax proposal has been met with strong opposition from business leaders, who argue it could undermine economic freedom and discourage investment [6] - The debate reflects broader economic dissatisfaction among the French populace, particularly in the context of rising inflation and stagnant economic reforms [4][7] - There is a call for a shift in focus from wealth redistribution to expanding the overall economic "cake," emphasizing the need for growth in sectors like digitalization and green energy [7][8]