昔日龙头“欠薪跑路”，百亿旅拍市场凉了？

Core Viewpoint - The company, Bojue Travel Photography, once a leading brand in the travel photography industry, is now facing severe operational challenges, including rumors of bankruptcy and business shutdowns, despite the overall market for travel photography in China continuing to grow significantly [3][10][17]. Company Overview - Bojue Travel Photography was founded in 2011 by Xu Chunsheng, transitioning from traditional wedding photography to travel photography with the establishment of the first travel photography base in 2012 [4]. - At its peak, the company was valued at 2.5 billion yuan and operated 112 travel photography bases globally, becoming a benchmark in the industry [3][4]. Business Challenges - The company announced that its travel photography business has been consistently unprofitable, leading to the decision to reduce operations and close unprofitable stores [3][10]. - Reports indicate that Bojue Travel Photography has been unable to fulfill customer orders, with many employees reportedly owed salaries totaling 15 million yuan [16]. Market Dynamics - The travel photography market in China is projected to reach a scale of nearly 40 billion yuan, with over 25 million consumers expected in 2024 [3][17]. - The market is becoming increasingly competitive, with over 6,341 travel photography-related companies currently operating, and a significant increase in new registrations [10][13]. Industry Trends - The rise of small and medium-sized travel photography businesses adopting a light-asset model contrasts with Bojue's heavy investment in physical locations, which has become a disadvantage in a crowded market [13]. - Consumer preferences are shifting towards personalized and unique photography experiences, leading to a decline in demand for traditional wedding photography services [15][20]. Future Outlook - Despite the challenges faced by Bojue Travel Photography, there are still opportunities for growth in niche markets, high-end customization, and catering to the aging population, which is showing increased interest in travel photography [20][22]. - The travel photography industry is expected to continue evolving, with a focus on individual photographers and unique experiences becoming more prominent [20][22].