截至2025年11月，高德美的市值已超350亿瑞士法郎（约合人民币3100亿元）。 这意味着自从2024年3月，高德美正式登陆瑞士证券交易所，在一年半左右的时间内，其股价实现大幅上涨。 高德美刚上市时，资本市场并未预料到这家定位为皮肤医学的医美企业将带来如此惊人的回报：其开盘价为每股61.00瑞士法郎，市值高达145亿瑞士法郎 （约合人民币1164亿元），成为瑞士近二十年来规模最大的IPO交易。 上市以来，高德美股价走势图，图片来源：英为财情 这一表现背后，离不开坚实的财务数据作为支撑。 文 | 大美界，作者｜崔志强 在全球医美行业波折前行的当下，3100亿元的市值，持续上调的业绩，高德美究竟凭什么？ 故事缘起：，一场由雀巢与欧莱雅发起的长期孵化 高德美的起源可追溯至专注于皮肤病学研究的美国欧文实验室——该实验室由M. Owen于1961年在得克萨斯州达拉斯创建。 1972年，欧文实验室被爱尔康收购；随后在1977年，爱尔康并入雀巢集团。 1981年，欧莱雅与雀巢在各持50%股权的情况下联合成立高德美研发中心（CIRD），该研发中心亦成为高德美的研发核心。 1995年，高德美推出针对痘痘肌肤的首个专业品牌Di ...

Group 1 - L'Oréal is reportedly interested in acquiring the UK skincare brand Medik8, which has sparked discussions in the industry [1] - Medik8 is known for its "CSA skincare philosophy" and has gained popularity for its "morning C, evening A" concept [2] - Medik8's sales are projected to grow by 50% in 2024, with global revenue expected to exceed $100 million (approximately 720 million RMB) in 2025 [4] Group 2 - L'Oréal's skincare division has been expanding rapidly, with sales surpassing 7 billion euros (approximately 54.8 billion RMB) in 2024, making it one of the fastest-growing segments of the company [6] - Estée Lauder's brand The Ordinary has entered the Chinese market, emphasizing high-concentration ingredient formulations at affordable prices [6] - Both L'Oréal and Estée Lauder are targeting a trend where consumers prefer effective and cost-efficient products [8] Group 3 - Local skincare brands like Winona and Yuze have established a strong market presence in China, leveraging a "medical-research co-creation" model [9] - The evolving consumer awareness in China indicates that mere ingredient stacking is insufficient; product texture, scientific formulation, and brand storytelling are becoming increasingly important [9] - For L'Oréal, building a distribution channel for Medik8 in China is crucial for market entry, while The Ordinary faces challenges from well-established local competitors [10]

Group 1 - L'Oréal Group is currently the most competitive acquirer in the potential acquisition of the UK skincare brand Medik8, although both parties have not commented on the rumors [1][2] - Medik8 was founded in 2004 by pharmacologist and biochemist Elliot Isaacs, who introduced the CSA skincare philosophy, which emphasizes using Vitamin C and sunscreen during the day and Vitamin A at night [2][3] - Medik8's sales are projected to grow by 50% in 2024, with expected global revenue reaching approximately $115 million (around 833 million RMB) in 2025, and the brand operates in over 25 countries with products sold in more than 7,000 beauty salons [2][3] Group 2 - Medik8's website has seen a monthly average of over 100,000 visits in 2024, with a 90% year-on-year increase in unique visitors, ranking first in the UK beauty and health website traffic [3] - The brand's parent company, Pangaea Laboratories, received investment from private equity fund Inflection Buyout Fund V in 2021, although the specific amount was not disclosed [3] - Despite its growth, Medik8 currently lacks official online sales channels in China, with its official public account inactive since May 2021 [4] Group 3 - The skincare science sector is becoming increasingly competitive, with L'Oréal Group focusing on expanding its presence in this area through acquisitions and investments [6][8] - In 2024, L'Oréal's skincare division achieved sales of €7.027 billion (approximately 53.241 billion RMB), marking a 9.8% year-on-year increase, making it the fastest-growing segment for the company [6][7] - The global market for adult dermatological skincare products reached $2.295 billion (approximately 16.539 billion RMB) in 2023, with projections to grow to $4.687 billion (approximately 33.777 billion RMB) by 2030, reflecting a compound annual growth rate (CAGR) of 12.3% from 2024 to 2030 [8]