Miu Miu继续狂飙；雅诗兰黛中国实现增长；昂跑旗舰店落地成都太古里｜品牌周报

Group 1: Estée Lauder - Estée Lauder's Q3 report shows a 10% decline in net sales to $3.55 billion, with an organic decline of 9%, but slightly better than expected, and a gross margin increase of 3.1% due to the Profit Recovery and Growth Plan [2] - The company's China operations achieved low single-digit growth, driven by brands like La Mer, Estée Lauder, and Tom Ford, marking three out of the last four quarters with market share growth [2] - Global skincare and travel retail segments saw double-digit declines, with skincare sales down 11%, and makeup category performance was negatively impacted by M·A·C's product launch timing [2][3] Group 2: Prada - Prada's Q1 report indicates a 60.2% year-on-year increase in retail revenue for Miu Miu, contributing €377 million in net sales and increasing its share within the group from 22% to 31% [4] - The overall revenue for Prada Group was €1.34 billion, slightly above expectations, while competitors like LVMH and Kering reported sales declines [6] - Prada's cautious outlook reflects the challenging market conditions, with a focus on expanding its distribution network through partnerships, such as with Mytheresa [6] Group 3: Aesop - Aesop launched its first "tea fragrance" Virēre in mainland China, priced at 1,250 yuan, marking a significant increase in the frequency of new fragrance releases since being acquired by L'Oréal [12][15] - The brand's strategy aligns with the growing potential of the fragrance category in the beauty market, contributing to L'Oréal's double-digit growth in this segment [15] Group 4: Adidas - Adidas reported Q1 2025 revenue of €6.153 billion, a 13% increase year-on-year, with operating profit rising 82% to €610 million, driven by continued growth in the Chinese market [18] - The company maintains its full-year growth forecast despite tariff pressures, having minimized exposure to U.S. market products manufactured in China [18] Group 5: LVMH - LVMH's wine and spirits division is set to cut over 10% of its workforce, approximately 1,200 employees, due to a 9% decline in organic sales, primarily from weak performance in the U.S. and China [20]