巴黎水和圣培露，在华有了新“操盘手”：捷成饮料成为大陆地区总代理经销商，雀巢年收入超280亿饮用水业务在中国市场想“换档提速”

Core Insights - Nestlé's water and premium beverage business, generating over 28 billion RMB in annual revenue, has appointed a new distributor in China, marking a significant operational shift towards a lighter asset model [1][2][9]. Group 1: Partnership and Market Position - Starting in 2026, Jebsen Beverage will be the exclusive distributor for Perrier and S.Pellegrino in mainland China, indicating a strategic move following Nestlé's decision to operate its water and premium beverage business as an independent unit from January 1, 2025 [2][5]. - Jebsen Beverage's portfolio in mainland China now includes five brands, expanding its reach in the beverage market [2][5]. - The partnership with Jebsen is expected to enhance the market presence of Perrier and S.Pellegrino, which together hold approximately 21% market share in the Chinese sparkling bottled water segment [5][10]. Group 2: Business Performance and Strategy - Nestlé's water business reported sales of 3.18 billion Swiss francs (approximately 28.48 billion RMB) in 2024, with the business previously described as underperforming [10]. - In the first nine months of 2025, the organic growth rate for Nestlé's water and premium beverage business was 4.4%, with a real internal growth rate of 2.0% and a pricing contribution of 2.4% [10][13]. - The transition to an independent business unit has shown promising growth, particularly in the high-end beverage segment, which achieved double-digit growth in the first half of 2025 [10][13]. Group 3: Operational Changes and Future Outlook - The new management team, led by Muriel Lienau, is focused on strategic evaluations and exploring partnership opportunities to maximize the potential of Nestlé's iconic brands [7][10]. - The company aims to optimize its product portfolio and may take actions such as partnerships or divestitures based on strategic assessments [13]. - Looking ahead to 2026, the company is confident in its ability to create significant achievements while shaping the future of the beverage industry [26].