“黑马”哈吉斯之后，乐飞叶和Woolrich能否成为报喜鸟的新增长引擎

Core Viewpoint - The company has completed the acquisition of the global intellectual property rights for the Woolrich brand, excluding Europe, and plans to implement a diversified global strategy including direct sales, franchising, brand licensing, and e-commerce [1][6]. Group 1: Financial Performance - In 2024, the company reported total revenue of 5.153 billion yuan, a year-on-year decrease of 1.91%, and a net profit attributable to shareholders of 495 million yuan, down 29.07% [1]. - The main brand, Baoxini, generated revenue of 1.585 billion yuan, a decline of 8.35% compared to the previous year [4]. - The HAZZYS brand continued its strong performance with revenue of 1.781 billion yuan, a slight increase of 1.29% [4]. - Lafuma brand revenue reached 335 million yuan, showing a significant year-on-year growth of 27.95% [4]. Group 2: Brand Strategy - The company categorizes its brands into mature brands (Baoxini, HAZZYS, Baoniao, Suoluo), growth brands (Kaimiqie, Lafuma), and nurturing brands (Henry Grand, TB, Yilite), adopting a differentiated development strategy [2]. - The Lafuma brand targets outdoor leisure enthusiasts aged 30-50 and has expanded its offline presence to 95 stores, an increase of 20 stores from the previous year [5]. Group 3: Woolrich Acquisition - The company announced the acquisition of Woolrich's global intellectual property rights for approximately 384 million yuan, with the expectation of leveraging this brand for future growth [6][8]. - Woolrich will maintain its intellectual property rights in Europe and continue its operations there, while the company will manage the brand in other regions [7]. - A five-year product procurement and brand consulting agreement has been established to ensure a unified brand image and product quality globally [8]. Group 4: Market Challenges - The company faces challenges in integrating and nurturing the Woolrich brand amid a volatile retail environment, which will test its operational capabilities [10].