文 ｜ 李小霞 编辑 ｜ 乔芊 来源｜ 36氪未来消费（ID：lslb168） 封面来源 ｜ IC Photo 以下文章来源于36氪未来消费 ，作者李小霞 36氪未来消费 . 在这里看到消费的未来。36氪旗下官方账号。 "改造"外资品牌，最难的是everything。 近日，外资品牌出售中国业务颇为热闹，前有星巴克中国卖身博裕，后有汉堡王中国被CPE源峰收购。 这并非一时才兴起的商业浪潮，也不只是发生在餐饮坐标里的买卖。 时尚领域，安踏已是并购老手。而在2023年初，宝尊完成对GAP中国业务的收购，也正式加入了本土力量重塑外资品牌的队列中。 所有的交易背后，对应万口一辞的逻辑：唯有最深度的本土化，才可能重新唤活品牌在中国市场的增长力量。 一个庞大的商业集团，跨国经营很难绕开冗余、漫长的决策流程。 GAP中国首席执行官黄一鸣（Ken）告诉36氪，宝尊刚接手时，GAP中国有四十多套错综复杂的运营系统，且彼此之间没有打通；一款产品从开发到获得上 市批准，往往需要经历多重环节的跨国审核，等到决策落地时，市场机遇或许早已悄然流逝。 去除繁芜，是收购后的首要任务。宝尊花费十个月时间，完成了GAP中国所有系统的本土化升级改 ...

Core Viewpoint - The recent trend of foreign brands selling their Chinese operations highlights the necessity for deep localization to revitalize brand growth in the Chinese market [3][4]. Group 1: Foreign Brand Acquisitions - Starbucks China was sold to Boyu Capital, and Burger King China was acquired by CPE Yuanfeng, indicating a growing trend of foreign brands divesting their Chinese operations [1][2]. - Anta has become an experienced player in acquisitions, and in early 2023, Baozun completed the acquisition of GAP's China business, joining the ranks of local companies reshaping foreign brands [3]. Group 2: Operational Challenges and Solutions - GAP China faced over 40 complex operational systems that were not interconnected, leading to lengthy decision-making processes [4]. - Baozun spent ten months localizing GAP China's systems and streamlined operations, resulting in a 7% year-on-year increase in same-store sales and an increase in store count from over 120 to 170 [5][8]. Group 3: Brand Strategy and Positioning - GAP's core strategy is "Local for Local, China for China," focusing on local operations, supply chains, and consumer perspectives in product development [11]. - The brand's positioning has shifted to emphasize emotional connections with consumers rather than relying on discount-driven sales, aligning with GAP's global brand evolution [12][16]. Group 4: Consumer Engagement and Marketing - GAP aims to create emotional connections through brand narratives centered around music and dance, enhancing in-store experiences and social media engagement [13]. - The brand's marketing efforts have led to increased consumer engagement, as evidenced by a rise in user-generated content following the announcement of a new brand ambassador [14]. Group 5: Supply Chain and Product Development - The local supply chain now accounts for approximately 70% of GAP China's operations, allowing for quicker responses to market demands [27]. - The company is focused on balancing local and global product offerings to meet consumer needs while maintaining brand identity [28]. Group 6: Future Outlook and Challenges - The company acknowledges that achieving greater growth potential will require time for consumers to recognize brand changes [30]. - GAP China's localized marketing strategies have garnered positive responses, providing insights for GAP's global operations [31].

文 | 增长工厂，作者 | 嘉辛，编辑 | 赵元 扫地机器人行业的"开山鼻祖"，倒下了。 2025年12月16日，iRobot公告称，由于公司自愿启动破产程序，纳斯达克已决定将公司普通股退市。此 前一天，iRobot在特拉华州法院提交了第11章破产保护申请。 在这份破产文件里，能看到iRobot当下的窘迫：账上现金仅剩2480万美元，总负债却飙升至5.08亿美 元，最大债权人是它的中国代工厂深圳杉川。 谁能想到，这个曾占据全球80%市场份额、市值巅峰近40亿美元的巨头，如今市值缩水至不足2500万美 元，彻底沦为中国企业的"接管对象"。 iRobot的倒下，不是单一因素的偶然，而是全球化战略全面失当的必然：技术上故步自封、市场上傲慢 轻敌、供应链上拱手让人，每一步都踩错了全球化的节奏。 与之形成鲜明对比的是，IDC 2025年三季度全球智能扫地机器人市场报告显示，中国品牌已包揽全球出 货量前五——石头、科沃斯、追觅、小米、云鲸，合计市占率超64%。 这场一衰一兴的较量，为所有出海企业写下最鲜活的教材：全球化从来不是"一套产品卖全球"，而 是"跟着市场做本地"。 一、走进技术路线的死胡同 1990年，iRobo ...

Core Viewpoint - CPE Yuanfeng is investing $350 million into Burger King China to establish a joint venture, aiming to expand the brand's presence in the Chinese market significantly by increasing the number of stores from approximately 1,250 to over 4,000 by 2035 [4][5][16]. Group 1: Investment and Partnership - CPE Yuanfeng will hold about 83% of the joint venture, while Restaurant Brands International (RBI) will retain approximately 17% [5]. - The partnership includes a 20-year master development agreement granting exclusive rights to develop the Burger King brand in China [5]. - CPE Yuanfeng, established in 2008, has a total asset management scale exceeding 150 billion yuan and has previously invested in several successful consumer brands [8][10]. Group 2: Market Performance and Challenges - Burger King has been underperforming in China, with a system sales figure of $700 million (approximately 5 billion yuan) in 2024, ranking eighth among its top international markets [15]. - The average sales per store in China were only $400,000 (around 2.9 million yuan), the lowest among the top ten international markets [15]. - Compared to competitors like KFC and McDonald's, Burger King's market entry was delayed, and its expansion has been slower due to its mid-to-high-end positioning [15][16]. Group 3: Strategic Direction - The collaboration with CPE Yuanfeng reflects RBI's urgent need to revitalize Burger King's business in China [12][16]. - The management team of Burger King China has been localized, with new executives from major international food brands, indicating a shift towards more localized operations [16]. - Future strategies will focus on product development and brand marketing to find market breakthroughs [17].

Core Viewpoint - Morgan Stanley's latest report highlights BYD's launch of the Racco K-car model specifically designed for the Japanese market, which is expected to capture over 30% market share in this niche segment, contributing an annual profit of 400 million to 1 billion RMB [1][5][10]. Group 1: Market Opportunity - The K-car segment accounts for 30-40% of total car sales in Japan, with annual sales around 1.2 million units, presenting a significant growth opportunity for BYD [1][6]. - The target market for BYD's Racco is approximately 350,000 to 450,000 units annually, focusing on consumers willing to try new brands, as about two-thirds of Japanese consumers prefer domestic brands [10][11]. Group 2: Strategic Significance - The launch of Racco signifies BYD's commitment to localization, marking a shift from simple exports to deeper local operations, which is a strategic evolution for Chinese automakers [5][6][12]. - The model's development reflects BYD's strategy of "In Japan and for Japan," indicating a tailored approach based on experiences from the European market [9][12]. Group 3: Financial Projections - Although Racco's direct profit contribution is estimated to be only 1-2% of BYD's expected earnings in 2026, its strategic importance is deemed significant [5][11]. - The projected selling price of Racco is around 2.5 million yen (approximately 170,000 RMB), which is nearly double the price of similar compact cars sold in China, allowing for higher profit margins [9][11]. Group 4: Global Expansion Strategy - BYD is expanding its global footprint by establishing production bases in various countries, including Brazil, Indonesia, Malaysia, Thailand, Hungary, and Turkey, supporting its international strategy [11][12]. - The company is shifting from a pure electric vehicle (BEV) export strategy to a balanced approach that includes plug-in hybrid electric vehicles (PHEV) [12][13].

Core Insights - Starbucks has officially announced the sale of its controlling stake in the Chinese market to the alternative asset management firm Boyu Capital, marking a significant shift in its operational strategy in China [2][4][5] - Boyu Capital will hold 60% of the joint venture, while Starbucks retains 40%, allowing the company to recover $4 billion from this transaction [2][4][5] - The decision to divest comes amid declining market share and increasing competition in the Chinese coffee market, where Starbucks' share has dropped from a peak of 42% in 2017 to 14% in 2024 [3][11] Company Background - Starbucks entered the Chinese market in 1999 through a joint venture model, gradually shifting to a wholly-owned model by 2017 [6] - The company has faced challenges in recent years, with a reported revenue of $2.958 billion in fiscal year 2024, a decline of 1.4% year-on-year, and a continuous drop in same-store sales [11][12] Market Dynamics - The competitive landscape in China has intensified, with local players like Luckin Coffee capturing significant market share through aggressive pricing strategies [11][12] - As of 2024, Luckin Coffee holds a market share of 35%, while Starbucks has around 14%, with Luckin operating over 24,000 stores compared to Starbucks' 8,000 [11][12] Strategic Adjustments - In response to market pressures, Starbucks has implemented localized strategies, including rare price reductions and a focus on expanding into lower-tier markets [12][13] - The company has entered 166 new county-level markets in fiscal year 2025, nearly doubling its previous efforts, and has adjusted its store model to smaller formats to better cater to these markets [12] Future Outlook - The partnership with Boyu Capital is seen as a move towards further localization and a potential pathway for Starbucks to regain lost market share and stabilize growth in China [13]

Core Insights - Adidas showcased its Spring/Summer 2026 collection at the Shanghai Fashion Week, marking a significant event for the brand in the Chinese market [1] - The local team has driven a turnaround in performance, achieving growth for nine consecutive quarters since the appointment of the new managing director in 2022 [1][2] - The Shanghai Creative Center (CCS), celebrating its 20th anniversary, plays a crucial role in this success, with over 60% of products designed locally and 95% manufactured in China [1][2] Group 1: Event Highlights - The fashion show featured a diverse range of elements including racing, ice hockey, martial arts, and street dance, which resonated with various consumer interests [1] - Over 80% of the showcased items will be available to consumers in stages, emphasizing the local team's creative expression [2][4] - The event was a culmination of four months of preparation by the CCS team, highlighting their commitment and innovative approach [2] Group 2: Strategic Focus - Adidas emphasizes a localized approach to product development, with CCS evolving through key milestones such as the 2008 Beijing Olympics and collaborations with local celebrities [3] - The brand aims to explore new possibilities by understanding consumer needs and engaging in co-creation with younger audiences [5][7] - The CCS has become a central hub for global product distribution, with approximately 25% of locally designed products being exported [8] Group 3: Consumer Engagement - The company prioritizes direct interaction with consumers to gather insights and feedback, which informs product development [6][9] - The focus is on creating emotional connections with consumers, recognizing the shift towards co-creation in brand-consumer relationships [7][9] - The CCS aims to integrate traditional Chinese culture into its products, enhancing their appeal both domestically and internationally [10][12]

Core Viewpoint - The meeting emphasized the importance of localization, compliance, and social responsibility for Chinese enterprises operating in Mali to ensure safety and sustainable development in a challenging security environment [1] Group 1: Meeting Context - The meeting was attended by the Economic and Commercial Counselor of the Chinese Embassy in Mali and representatives from major Chinese enterprises [1] - The discussion focused on the complex and severe security situation in Mali [1] Group 2: Key Discussion Topics - Three core topics were discussed: localization of operations, legal and compliant operations, and fulfilling social responsibilities [1] - Participants unanimously agreed that promoting localization, adhering to compliance standards, and actively fulfilling social responsibilities are crucial for ensuring the safety of personnel and projects [1]

Group 1 - The Chinese beauty products industry is accelerating its "going global" strategy, with exports of cosmetics and personal care products expected to reach 51.2 billion RMB in 2024, a year-on-year increase of 11.9% [1] - Incorporating Chinese culture into brand building is seen as an effective strategy for establishing brand recognition in overseas markets, with companies like Plant Doctor Group using traditional Chinese medicinal ingredients to attract consumers [1][2] - The rise of Chinese cultural influence is enhancing the appeal of domestic beauty brands in international markets, as brands that integrate cultural elements into their narratives can build unique recognition [2][3] Group 2 - Localized design strategies are crucial for Chinese beauty brands to succeed in diverse international markets, as consumer preferences vary significantly across regions [4][5] - Companies like Orange Group are focusing on understanding overseas market preferences and adapting their products accordingly, including developing new shades and formulations to meet local needs [4][5] - Establishing local teams and R&D centers abroad helps brands better align with market demands and regulatory standards, enhancing consumer trust and product freshness [5][6] Group 3 - Continuous investment in technological innovation is strengthening the competitive edge of Chinese beauty products in the global market, with companies developing proprietary technologies and establishing comprehensive supply chains [6][7] - The industry is witnessing a shift towards technology-driven growth, with brands increasingly focusing on R&D to create effective products that meet consumer needs [7][8] - The next 3 to 5 years are expected to see an intensified effort from Chinese beauty brands to expand internationally, particularly in emerging markets, facilitated by the growth of cross-border e-commerce [8]

Core Insights - The article highlights the successful expansion of Mixue Ice City in Malaysia, emphasizing its "high quality and affordable" philosophy that resonates with local consumers [2][4] - The brand has effectively localized its offerings by incorporating local flavors and obtaining Halal certification, which has helped establish a strong emotional connection with Malaysian customers [2][3] - Mixue Ice City has created over 3,000 job opportunities in Malaysia, contributing positively to the local economy and fostering cross-cultural team collaboration [3][4] Localization Strategy - Mixue Ice City has introduced new beverages tailored to local tastes and has integrated local elements into its branding, such as the "Snow King" mascot [2][3] - The brand's local team, with over 95% of members being Malaysian, focuses on genuinely serving the local community [2][3] Community Engagement - The brand engages with families through online activities like the "Snow King Drawing Contest" and community classes, enhancing its presence as a joyful part of local life [3] - Mixue Ice City is not just a beverage seller but also a facilitator of happiness and community interaction [3] Economic Contribution - The company has established a robust operational and supply chain system, which has been praised by local partners for its efficiency and innovation [4] - The collaboration between Henan and Malaysia has been strengthened, providing a conducive environment for Mixue Ice City's growth in the Malaysian market [4][5]