11月25日，亚朵集团(NASDAQ:ATAT)披露的2025年第三季度财务报告显示，报告期内，亚朵整体经营 指标保持稳健，营收同比增长38.4%，平均可出租客房收入(RevPAR)达371.3元，延续逐季改善态势。酒 店主业的稳定表现，与零售端的高增长共同构成了本季财务亮点，其中零售业务的增速仍然让行业关 注。 财报显示，三季度亚朵零售GMV达9.94亿元，同比增长75.5%，线上渠道占比持续超过90%。从增长曲 线来看，零售业务不仅保持了高增速，也在集团营收结构中承担了更重要的角色，成为推动整体增长的 重要动力。 深睡核心品类走强，"爆品效应"持续放大 作为亚朵零售的核心发力点，深睡品类在三季度持续展现市场竞争力。在枕头品类，深睡枕Pro3.0上市 仅25天即实现销售额破亿，较上一代产品破亿时间缩短19天。截至目前，深睡枕系列累计销量已超过 800万只，在电商平台持续位居枕头品类前列。 被子品类同样表现强劲。三季度推出的深睡控温被・四季Pro2.0与冬季Pro2.0，通过升级双层控温系 统，实现对睡眠微环境的动态调节，满足不同季节、不同体质用户的睡眠需求。截至目前，深睡控温被 系列累计销量已突破200万条 ...

Core Insights - The article highlights the success of Atour Planet as a new consumer brand in the sleep industry, emphasizing its focus on user experience and product quality [3][5][20] - Atour Planet's approach has led to a transformation in the supply chain, fostering a collaborative environment between manufacturers and the brand [26][27] Group 1: Company Overview - Atour Planet has evolved from a hotel-based brand to a leading player in the sleep product market, with a focus on user-driven product development [3][4] - The brand's "Deep Sleep Pillow" has achieved cumulative sales of 7.8 million units, showcasing its popularity and market acceptance [4][14] - The company emphasizes a philosophy of understanding user needs and refining products, which has proven effective in various economic conditions [5][16] Group 2: Product Development - Atour Planet's product development is characterized by rigorous standards, such as the requirement for millimeter-level precision in pillow manufacturing to ensure consistent quality [7][9] - The introduction of the "Deep Sleep Standard" aims to enhance user experience by focusing on dynamic pressure distribution and temperature control [17][19] - The company has successfully launched innovative products like the Deep Sleep Temperature-Controlled Quilt, which addresses common sleep issues [12][14] Group 3: Supply Chain Collaboration - The collaboration between Atour Planet and its suppliers has led to significant advancements in manufacturing processes, including the adoption of high-precision cutting equipment [9][24] - The partnership has transformed factories from mere manufacturers to co-creators, enhancing their capabilities and contributing to higher product quality [26][27] - Atour Planet's approach has resulted in a more resilient supply chain, aligning with national strategies for domestic consumption and production [26][27]

Core Viewpoint - The success of Atour Planet exemplifies a business philosophy focused on understanding user needs and refining products, resulting in a win-win situation for consumers, brands, and supply chains [5][27]. Group 1: Company Overview - Atour Planet has evolved into a leading brand in the sleep industry, driven by user-centric product development and market validation [4][5]. - The brand's "Deep Sleep Pillow" has achieved cumulative sales of 7.8 million units, indicating strong market acceptance [4]. Group 2: Product Development - The introduction of the Deep Sleep Pillow Pro3.0 involved rigorous testing, with over 200 prototypes and more than 160 adjustments to the core structure [8][10]. - The product features a three-layer sponge design that ensures precise support for the head, neck, and shoulders, enhancing the user experience during sleep [8][10]. Group 3: Supply Chain Collaboration - Atour Planet's collaboration with suppliers has led to significant upgrades in manufacturing processes, including the introduction of high-precision cutting equipment [8][23]. - The partnership has transformed factories from mere manufacturers to co-creators, enhancing their value and capabilities [26][27]. Group 4: Market Impact - The sales of Deep Sleep Pillow Pro3.0 increased by over 70% compared to its predecessor, while the Deep Sleep Temperature-Controlled Quilt Pro2.0 saw sales nearly double [13]. - The focus on user experience has shifted the industry from traditional parameter-based competition to a more holistic approach centered on sleep quality [15][16]. Group 5: Industry Evolution - The home textile industry is transitioning from low-cost competition to a focus on quality improvement and supply chain collaboration [26]. - Atour Planet's establishment of the "Deep Sleep Standard" is becoming a benchmark for product quality in the industry, promoting a user-first approach [27][28].