曾估值40亿美元，申请破产保护

Core Viewpoint - Ssense, once valued at $4 billion, has filed for bankruptcy protection in Canada due to unexpected impacts from tariffs and ongoing operational challenges in the luxury e-commerce sector [5][7]. Group 1: Ssense Bankruptcy - Ssense has applied for bankruptcy protection to prevent creditors from forcing the sale of the company, with a court decision expected within a week [7]. - The company has faced continuous performance pressure as the luxury market cools, leading to multiple rounds of layoffs, including an 8% reduction of over 100 employees this year [7]. - The introduction of a 35% tariff on goods imported from Canada to the U.S. since August 1 has significantly increased costs for Ssense, which heavily relies on the U.S. market [7]. Group 2: Luxury Retail Challenges - The luxury retail sector is experiencing difficulties, as evidenced by the Italian e-commerce platform Luisaviaroma also facing bankruptcy due to rising operational costs and decision-making errors [8]. Group 3: Vhernier's Expansion - Vhernier, a high-end jewelry brand recently acquired by Richemont, is set to open its first boutique in Asia at the Peninsula Hotel in Hong Kong by the end of this year [10][12]. - Prior to its acquisition, Vhernier's revenue was estimated to be between €50 million and €100 million, comparable to other brands acquired by Richemont in the past [12]. - The brand aims to replicate the success of other Richemont brands by expanding its self-operated network, with 16 boutiques currently worldwide [12]. Group 4: H&M's Market Strategy - H&M has opened two flagship stores in Shenzhen, marking its largest store in South China at 1,764 square meters, showcasing a full range of products [14][16]. - The openings reflect H&M's commitment to deepening its presence in the Greater Bay Area and its strategic importance in the Chinese market [16].