南极电商涉5亿余元诉讼，还是“卖吊牌”惹的祸

Core Viewpoint - The article discusses the ongoing legal disputes faced by Nanjing E-commerce Co., Ltd. (南极电商) related to its brand licensing model, particularly with its partner Shanghai Xinhe Zhao Enterprise Development Co., Ltd. (上海新和兆), highlighting the decline of its once profitable licensing business and the associated risks [1][2][9]. Group 1: Legal Disputes - Nanjing E-commerce announced two lawsuits involving Shanghai Xinhe Zhao, with one case amounting to 565 million yuan, primarily concerning the unauthorized use of the "Cardi Le Crocodile" brand [2][4]. - The timeline of the lawsuits shows that Shanghai Xinhe Zhao initially filed a claim for approximately 20 million yuan in January 2025, which was later increased to 565 million yuan in December 2025 [4]. - Nanjing E-commerce claims that Shanghai Xinhe Zhao violated the licensing agreement by unauthorized modifications and sublicensing, leading to multiple trademark infringement lawsuits against both companies [5][6]. Group 2: Decline of Licensing Model - The licensing model, once a significant revenue driver for Nanjing E-commerce, has seen a drastic decline, with revenues from brand licensing dropping from 747 million yuan in 2021 to 235 million yuan in 2023, a decrease of over 70% [9]. - In 2020, the licensing business contributed 30% of Nanjing E-commerce's total revenue, but by 2024, the overall revenue fell to 3.358 billion yuan, with a net loss of 237 million yuan [9][10]. - The rapid expansion of authorized dealers from 6,079 in 2020 to 10,311 in 2021 has led to quality control issues, resulting in multiple products being listed as substandard by regulatory authorities [9][10]. Group 3: Strategic Transformation - In response to the challenges posed by the licensing model, Nanjing E-commerce initiated a strategic transformation in 2023, focusing on "fashion licensing + strategic cooperation licensing + self-operated retail" [10]. - The company aims to shift from merely selling licenses to building its own brand, with self-operated products targeting the "affordable alternatives" market [10]. - In the first half of 2025, self-operated revenue reached 52.54 million yuan, a year-on-year increase of 152.01%, although overall sales expenses rose significantly, indicating ongoing financial challenges [11].