利润暴跌22%，华伦天奴大中华CEO被举报“虐待”员工

Core Insights - Valentino's Greater China region has experienced a collective employee whistleblowing incident, accusing CEO Janice Lam of corruption, abuse of power, and systemic exploitation over the past three years, negatively impacting the brand's reputation in China [1][3] Group 1: Allegations Against Management - Employees allege that Janice Lam engaged in practices to manipulate sales data, including unauthorized discount sales and misusing employee discounts, which may violate internal financial and control regulations [3] - The management style of Janice Lam has been criticized for creating a culture of fear, with reports of her using profanity during meetings and monitoring employee behavior under the guise of "work efficiency tracking" [3] - Systemic labor exploitation has been reported, including unrealistic workloads, a long-standing no-overtime pay policy, and performance pressure mechanisms that force employees to work unpaid overtime, leading to mental health issues and resignations [3] Group 2: Financial Context and Industry Implications - Valentino's revenue is projected to decline by 2% in 2024 to €1.31 billion, with operating profit down 22% to €246 million and EBITDA falling by 21%, primarily due to weak performance in the Chinese market [4] - The incident is not isolated but reflects increasing operational pressures within Valentino, as well as broader industry challenges, including a downturn in luxury consumption in China and the rise of local brands [4] - Other international brands, such as Chanel, Adidas, and Pandora, have also faced internal complaints or management conflicts in the Chinese market, highlighting governance risks amid intensified competition and profit pressures [4]