杰尼亚和滔搏同时看中的Norda，能成为下一个昂跑吗？

Core Viewpoint - Zegna Group has completed a second round of investment in the Canadian high-end trail running shoe brand Norda, indicating a strategic shift towards expanding its investment portfolio beyond traditional menswear brands [1][3] Group 1: Investment and Strategic Moves - Zegna's investment in Norda aligns with its goal to connect with a new generation of consumers, reflecting a structural shift in global fashion from formal wear to activewear [4] - The partnership with Norda represents a potential beginning for Zegna to become a multi-brand lifestyle giant, as it seeks to prove its growth prospects to the secondary market post-IPO [4] - Zegna's interest in Norda began shortly after the launch of Norda's first shoe in 2021, showcasing a long-term vision for collaboration [3] Group 2: Brand and Market Positioning - Norda, founded in 2020, focuses on lightweight design and material innovation, appealing to both professional trail runners and urban consumers with its minimalist aesthetic [1][3] - The brand's rapid growth, reportedly doubling in size annually, necessitates significant capital investment to sustain its development [4] - Norda's pricing positions it as one of the most expensive running shoe brands, with products typically priced around 2000 yuan, and collaborative products with Zegna reaching up to 6600 yuan [7] Group 3: Competitive Landscape - Norda's emergence mirrors that of On, a successful running shoe brand that transitioned from a niche market to a broader lifestyle symbol, indicating potential for similar growth [6][9] - The brand has secured a strategic partnership with top sports retailer Tmall, which will manage its operations in China, enhancing its market presence [6] - Despite its potential, Norda faces stiff competition from established brands like On, HOKA, and Salomon in the rapidly growing trail running market, necessitating continuous innovation and market balance [9]