1月9日，中新网记者根据网友提供的信息，在某电商平台波司登官方旗舰店查询到了同款商品。这是一 款男式可脱卸内胆鹅绒服，商品页面显示其绒子含量达90%，蓬松度为700FP，原价2299元，折后价 1947元，已有超过1000人下单。 另一方面，2018年，波司登开启高端化转型，当时公司决定"聚焦主航道、收缩多元化"，将战略重心重 新放在羽绒服上。此后，波司登通过登陆纽约、米兰、巴黎等国际时装周，与国际设计师合作，签约杨 幂、肖战、谷爱凌等品牌代言人，大力塑造高端品牌形象。 据久谦数据，波司登羽绒服产品在天猫平台的销售均价从2017年的183元提升至2025年847元，而京东平 台提升至1080元，实现较大幅度增长。 中新网北京1月9日电 近日，波司登再度因产品定价问题登上热搜。有网友在社交平台发文称，波司登 门店一款售价2000多元的羽绒服，充绒量只有86克，质疑其品牌溢价过高。 该店客服提供的水洗标图片进一步显示，此款服装不同尺寸的含绒量不同，尺码分别 为"165"、"170"、"175"等，对应的充绒量分别为78克、82克、86克等。 针对网友对其品牌溢价的质疑，记者以消费者身份咨询某电商平台波司登官方旗舰 ...

上周法国总统马克龙访华时，带了一个庞大的法国企业家代表团随团，其中包括法国老牌文旅企业Club Med地中海俱乐部全球总裁兼首席执行官斯特凡纳·马凯尔。斯特凡纳·马凯尔今年7月底刚出任Club Med 地中海俱乐部全球总裁兼首席执行官，此次访华是其就任后第一次造访中国。在短暂的访华期间，斯特 凡纳·马凯尔接受21世纪经济报道的专访。 "地中海俱乐部已完成品牌高端化转型。未来，我们的战略目标是在2035年成为最具标志性的全球生活 方式品牌之一。" 斯特凡纳·马凯尔透露，为实现这一愿景，地中海俱乐部正加速全球布局，计划2030年 运营80座度假村，未来十年内（到2035年）全球度假村数量达到100家。"新项目将沿着地中海、东南亚 及美洲地区拓展——这不仅是规模的扩张，更是产品焕新的升级。" （Club Med地中海俱乐部全球总裁兼首席执行官斯特凡纳·马凯尔） 十年内全球度假村达百家 21世纪： 作为随法国总统对中国进行国事访问的法国企业代表，您如何理解中法经贸合作中文化交流 的核心价值？作为深耕中国市场的法国品牌，Club Med地中海俱乐部在促进两国文化交流方面发挥了 哪些独特的作用？ 斯特凡纳·马凯尔：202 ...

Core Insights - Decathlon, known for its affordability, has significantly increased prices since 2022, with an average sales price on Douyin rising from 128.81 yuan to 196.32 yuan, a 52% increase [1][2] - The company has launched four high-end sub-brands in March 2024, aiming to enhance its premium image, but this strategy has not resonated well with consumers [1][2] - Financial reports indicate a slowdown in sales growth and a negative net profit growth of -15.48% in 2024, raising concerns about the effectiveness of its pricing strategy [2][5] Pricing Strategy - Decathlon's price hikes have led to a perception of losing its value proposition, with basic items now priced over 100 yuan, making it less appealing to budget-conscious consumers [2][3] - The company faces stiff competition from domestic brands like Camel and KAILAS, which offer a wider variety of styles and faster product updates at competitive prices [2][6] Market Positioning - Despite the price increases, Decathlon's customer base remains primarily middle-class, who appreciate the brand for its reliability and affordability, especially for entry-level sports equipment [7][8] - The brand's attempt to penetrate the high-end market is challenged by established competitors like Lululemon and Arc'teryx, which have successfully positioned themselves as premium brands [6][8] Operational Challenges - Decathlon's net profit margin is around 6%, significantly lower than competitors like Nike and Adidas, making it more vulnerable to rising costs [5][6] - The company operates a heavy asset model, controlling design, production, and logistics, which has helped maintain lower prices but is now strained by increasing raw material and labor costs [5][6] Consumer Experience - Recent changes in store layout and branding have not significantly improved customer experience, leading to confusion about the brand's positioning between low-cost and high-end products [8][10] - While Decathlon's physical stores continue to attract foot traffic, the conversion rate for high-end products remains low, indicating a struggle to shift consumer perception [8][10] Digital Presence - Decathlon's online sales account for a relatively low percentage compared to competitors, highlighting the need for improvement in its digital strategy [8][10] - The brand has a substantial following on social media, but its sales performance on platforms like Douyin lags significantly behind that of competitors like Lululemon [9][10]

Core Insights - Diya Co., Ltd. reported a revenue of 786 million yuan for the first half of 2025, a year-on-year increase of 0.97% [1] - The net profit attributable to shareholders reached 76.01 million yuan, reflecting a significant year-on-year growth of 131.61% [1] - In Q2 2025, the company achieved a revenue of 378 million yuan, up 7.47% year-on-year, and a net profit of 55.28 million yuan, which is a remarkable increase of 1547.93% year-on-year and 166.77% quarter-on-quarter [1] Revenue Growth and Online Performance - The company's official website saw a user registration increase, leading to online revenue of 47.38 million yuan in the first half of the year, a substantial growth of 259.53%, accounting for 32.46% of total online revenue [1] - The single-store revenue reached 1.79 million yuan, marking a year-on-year increase of 26.89% [1] - Directly operated stores experienced a revenue growth of 26.81% year-on-year, with a same-store sales efficiency increase of 38.65% [1] Channel Strategy and Market Focus - Diya Co., Ltd. is focusing on high-potential scenarios and deepening its presence in core cities, particularly in first and second-tier cities, by entering high-end commercial complexes such as SKP, IFS, and MixC [2] - The company is strategically selecting and nurturing potential cities below the third tier for concentrated development [2]

Investment Rating - The industry rating is maintained as "Positive" [7] Core Insights - In 2024, the company achieved significant growth in white goods, with smart home appliance revenue increasing by 56.4% year-on-year, and air conditioner shipments reaching 6.8 million units, up over 50% [12][13] - The company is focusing on upgrading its product structure, particularly in the Mini LED segment, while facing challenges in maintaining market share against competitors [4][12] - The company aims to balance profitability and market share, with a strategic focus on increasing its presence in higher price segments for air conditioners [3][29] Summary by Sections Air Conditioners - The core price range for air conditioners in Q1 2025 is between 2100 and 2700 yuan, with expected volume growth elasticity greater than price growth [16] - The company's strategy for 2025 includes targeting higher price segments and creating premium products to enhance average selling price (ASP) [29] - Challenges include balancing profitability and market share, with a projected net profit margin of around 2%, which is lower than competitors [40][45] Televisions - The company is emphasizing product upgrades, with a significant increase in the online retail average price of its televisions, which rose by 82% year-on-year in Q1 2025 [4][12] - The company faces obstacles in gaining market share through price competition, as its internet profit model has been hindered by regulatory changes [4][12] Investment Recommendations - For white goods, attention should be paid to the price competition of entry-level air conditioners and the responses from traditional market leaders [5] - For black goods, focus on the company's efforts to improve profitability while navigating the evolving competitive landscape [5]