以下文章来源于源Sight ，作者源Sight 源Sight . 源Sight，关注互联网前沿生态和新兴商业。 消费风向变了。 文 ｜ 周艺 来源｜ 源Sight（ID：gh_95838c8306c1） 封面来源 ｜ 爱马仕官网 刚过去的"养马人"既喜又怕的12月，爱马仕的年底涨价如约而至。 12月29日，爱马仕完成涨价。根据行业媒体LADYMAX的报道，此次爱马仕的最高涨幅为10%，除了皮具以外的珠宝仅上涨1%。 总的来看，此次爱马仕价格涨幅较为温和，其中最为抢手的"铂金包"上调1万元、Kelly根据款式不同涨价5000元-10000元，幅度均在9%左右，其余热门 款手袋的涨幅在5%-7%不等。 在此前的第三季度的财报会上，爱马仕管理层对大中华区的表现感到满意，并认为这一季度中国市场的复苏来自于客流量的微弱回升以及珠宝、手表等更 高金额单品的销量增加。 而小红书群体集体晒这份所谓的"催款函"，既是一种个人资产的炫耀，也能看出顶奢品牌颇有格调的"促销"手段。 同样的方法，梵克雅宝和香奈儿也"学"得很到位。 近两年，中国市场对奢侈品行业并不和煦，而为了重新唤起这一市场的消费冲动，多个奢侈品牌都发掘出了一些"小巧 ...

Core Viewpoint - The article discusses the significant financial loss experienced by Nicolas Puech, the heir to Hermès, due to alleged fraudulent activities by his long-time financial advisor, Eric Freymond, leading to the disappearance of shares valued at over €14 billion (approximately ¥100 billion) [2][5][8]. Group 1: Background and Context - Nicolas Puech, born in 1943, is a direct descendant of the founder of Hermès and was once a major individual shareholder with nearly 6% of the company [12][14]. - Puech's shares were reportedly sold or transferred without his knowledge starting in 2008, as he had distanced himself from family affairs and lived a quiet life [5][8]. - The relationship between Puech and Freymond, which began in the late 1990s, was characterized by trust, with Puech delegating financial management to Freymond [20][21]. Group 2: Allegations and Legal Proceedings - In 2024, Puech filed a criminal complaint against Freymond for breach of trust and asset misappropriation, while also pursuing civil lawsuits against LVMH and its chairman, Bernard Arnault, claiming that some of his shares ended up with LVMH [8][10][39]. - Freymond denied any wrongdoing, claiming a personal relationship with Puech, but his statements were inconsistent over time [8][39]. - Freymond died in a train accident in 2025, which complicated the investigation and left Puech without a key witness [8][39]. Group 3: Financial Dynamics and Market Implications - The article revisits the historical context of the stock battle between Hermès and LVMH, highlighting LVMH's covert accumulation of Hermès shares through derivatives and discreet transactions [9][30][34]. - By mid-2008, approximately 90% of Puech's shares had been sold, primarily to LVMH, which was aggressively expanding its luxury brand portfolio during that period [30][32]. - LVMH's actions were seen as a breach of industry norms, leading to regulatory scrutiny and a fine of €8 million for failing to disclose its shareholding in a timely manner [37][40]. Group 4: Personal and Social Dynamics - Puech's lifestyle and background contributed to his vulnerability, as he was accustomed to a world where wealth was managed automatically, leading to a lack of awareness regarding his financial situation [42][44]. - His close relationships, particularly with Freymond and his gardener, reflected a trust-based approach to personal and financial matters, which ultimately left him exposed to exploitation [45][48]. - The article illustrates the complexities of trust within elite social circles, where personal relationships can obscure professional responsibilities and lead to significant financial consequences [46][48].

Group 1 - The report indicates that the number of billionaires globally increased by 8.8% to 2,919, with total wealth reaching a record $15.8 trillion, marking a 13% increase [2] - The Asia-Pacific region saw a significant rebound, with the number of billionaires rising from 981 to 1,036, the highest growth rate globally [2] - In terms of wealth increment, billionaires in the Asia-Pacific region experienced an 11.1% growth, reaching $4.2 trillion, with mainland China leading at $1.8 trillion [2] Group 2 - Investment in the technology sector saw a wealth increase of 23.8% to $3 trillion, making it one of the top wealth-generating industries globally [2] - The report highlights a substantial increase in investment enthusiasm towards China and the Asia-Pacific region, with 34% of surveyed billionaires believing China offers the greatest investment opportunities, up from 11% in 2024 [3] - 61% of Asia-Pacific billionaires plan to increase investments in hedge funds, developed market equities (50%), and gold/precious metals (48%) [3]

瑞银财富管理亚洲区主席、瑞银财富管理亚太区联席主管卢彩云表示，亚太区的亿万富豪正在重塑全球 财富格局，该地区的亿万富豪总财富增长至4.2万亿美元，涵盖1,036位亿万富豪。短短一年内，有信心 以大中华区作为首选投资地区的受访者人数增长两倍，近半数预料大中华区在未来五年内将跻身为最具 吸引力的地区之列，凸显该地区在塑造未来财富方面所发挥的关键作用。 12月4日，瑞银发布的新一份《瑞银亿万富豪报告》显示，2025年亿万富豪的人数增加8.8%至2,919人， 总财富创下新高达15.8万亿美元(约123.24万亿港元)，增幅为13%。亚太区于2025年显著回升，亿万富豪 人数从981人增至1,036人，增幅居全球之首。亚太区亿万富豪中，高达79%为白手兴家，领先所有地 区。该地区的亿万富豪总财富增长11.1%至4.2万亿美元。 由行业角度来看，科技界亿万富豪的财富增长23.8%至3万亿美元，与消费及零售业并列为全球行业之 首。随着"深度求索(DeepSeek)"于2025年年初发布大型语言模型及市场对"中国制造"科技发展重燃兴趣 之后，大中华区的科技业亿万富豪亦强势回归，其财富增长呈上升趋势。同时，欧洲奢侈品行业的发 ...

案件的戏剧性在今年7月进一步升级：核心人物弗雷蒙德在一起被警方认定为自杀的车祸中突然身亡。由于法律限制，皮埃什无法向弗雷蒙德的家人 寻求任何赔偿。有消息人士透露，皮埃什现在生活境况窘迫，甚至出行只能乘坐廉价航空的经济舱。 巴黎检察官办公室确认，针对弗雷蒙德的刑事调查仍在进行，但截至目前，阿尔诺及LVMH尚未成为该刑事案的正式调查对象。 来源：国际财闻汇 据最新曝光的法律文件显示，一场涉及法国两大顶级奢侈品家族、标的额超过百亿欧元的民事诉讼在巴黎展开。82岁的爱马仕第五代继承人尼古拉· 皮埃什将LVMH集团及其董事长贝尔纳·阿尔诺告上法庭，指控对方以不当手段获取了其名下价值约140亿欧元的爱马仕股份。 英媒路透社首次将皮埃什与LVMH及阿尔诺的直接法律对抗公之于众。诉讼根源于一宗已持续数年的金融诈骗刑事调查。皮埃什指控其前好友兼长期 财务顾问埃里克·弗雷蒙德，通过"隐瞒与欺骗"，在其不知情的情况下，将其全部爱马仕股份——约600万股——逐步转让给了LVMH集团。皮埃什在 诉状中称，他对股份转移及资金去向均不知情。 然而，此案真相显得异常错综复杂。弗雷蒙德已故,他曾在早前的刑事案件调查中作出截然相反的陈述。他坚称 ...

Core Viewpoint - Nicolas Puech, the 82-year-old heir of Hermès, has filed a civil lawsuit against LVMH and its chairman Bernard Arnault, claiming that they unlawfully took over his Hermès shares valued at over $10 billion [1][3]. Group 1: Lawsuit Details - Puech alleges that he lost all his Hermès shares due to deceit by his financial advisor Eric Freymond, who allegedly transferred the shares to LVMH without his knowledge [1][2]. - The lawsuit was submitted to the French court in May, with the first hearing scheduled for November 20 [1]. - Puech seeks to recover the value of 6 million Hermès shares, estimated at approximately €14 billion (about $16.26 billion) based on current prices [1]. Group 2: Background of the Dispute - The financial dispute between Puech and Freymond is considered one of the most convoluted criminal cases in France, with allegations of fraud leading to the transfer of shares to LVMH [3]. - LVMH has been increasing its stake in Hermès from 2001 to 2013, ultimately holding over 23% of the company, which led to a prolonged legal battle between the two companies [3]. - Puech claims he was unaware of the transfer of his shares to LVMH and the whereabouts of the proceeds from the sale [3]. Group 3: Current Situation - Following Freymond's sudden death in a car accident, which was ruled a suicide, Puech faces challenges in seeking compensation as he cannot pursue claims against Freymond's family due to legal restrictions [3][4]. - Puech's current financial situation is reportedly dire, as he is now forced to travel in economy class [4]. - The French prosecutor's office is conducting a criminal investigation into Puech's case against Freymond, but LVMH and Arnault have not been formally investigated [4].

这里所提的刑事调查，是指2024年皮埃什起诉弗雷蒙德的金融案件，其指责后者违背信托和信任，将其 财产私自处置并转移。在过去的20多年里，弗雷蒙德一直负责管理皮埃什的房地产及其他资产。 扑朔迷离的真相 皮埃什与弗雷蒙德之间金融纠纷被视为法国的最曲折离奇的刑事案件之一。皮埃什指控称，弗雷蒙德通 过一系列诈骗手段从其手中榨取了600万股爱马仕股份，并通过空壳公司将其逐步转手给了LVMH。 12月3日，据最近爆光的一份民事诉讼文件显示，82岁的爱马仕第五代继承人尼古拉·皮埃什（Nicolas Puech）将法国奢侈品公司LVMH及其董事长贝尔纳·阿尔诺（Bernard Arnault）告上法庭，声称被告夺 走了Puech价值超百亿美元的爱马仕股份。 这是皮埃什首次对LVMH集团以及阿尔诺提起法律挑战，这也与皮埃什之前闹得沸沸扬扬的金融诈骗案 有关。据皮埃什之前声称，他在好友兼财务顾问埃里克·弗雷蒙德（Eric Freymond）隐瞒与欺骗之下， 损失了所有的爱马仕公司股份，而这些股份被悄悄转手给了LVMH集团。 根据尚未公开的诉讼文件摘录，巴黎司法法院5月曾估计，皮埃什曾经拥有的600万股爱马仕股份，按现 在的价格计 ...

他向长期打理自己财富的瑞士财富管理人埃里克·弗雷蒙德（Eric Freymond）询问一笔向摩洛哥园丁转账100万瑞士法郎的事宜时，弗雷蒙德面露难色。园丁 的妻子随后告知普伊奇："弗雷蒙德在撒谎，我们从未收到这笔钱。"这场对话如同一把钥匙，开启了潘多拉魔盒。 审计结果令人震惊：普伊奇名下那600万股爱马仕股票早已被转移或出售，巨额财富化为乌有。而他本人对此竟浑然不知！ 当奢侈品巨头爱马仕的第五代继承人尼古拉斯·普伊奇（Nicolas Puech）发现，自己名下价值150亿美元的600万股爱马仕股票不翼而飞时，一场震动全球的财 富失踪案就此拉开帷幕。这起被称为"本世纪最大金融谜案之一"的事件，不仅涉及巨额财富的离奇消失，更交织着信任背叛、权力游戏与离奇死亡，如同一 部现实版《纸牌屋》，令人瞠目结舌。 一、惊天骗局：150亿美元股票凭空消失 82岁的尼古拉斯·普伊奇曾是爱马仕家族中最大的个人股东，持有约5.7%的公司股份，价值高达150亿美元。然而， 2022年的一次偶然对话，彻底颠覆了他的人生轨迹。 他的死亡，让案件陷入僵局。资金去向成谜，部分资金被挪用于亏损项目（如Moderna股票亏损50万欧元），复杂离岸 ...

在管理风格方面，举报材料称 Janice Lam 在周二例会上多次以脏话辱骂参会员工，营造恐惧文化，使员工不敢发表意见。更令员工不满的是，她曾指示运 营、人力资源及门店管理层以"工作效率追踪"为名实施监控，对员工日常行为进行记录，该做法在港澳台员工今年2月集体抗议后才被迫终止。 在行业整体进入下行周期、奢侈品消费在中国走弱、中国本土品牌迅速崛起的大背景下，包括Chanel、Adidas、Pandora 在内的多家国际品牌中国区均出现 内部投诉或管理冲突。Valentino此次举报事件则凸显了行业竞争加剧与利润压力下的组织治理风险。 举报信还提到，品牌在大中华区存在系统性的劳动剥削，包括设置无法按时完成的工作量、长期执行无加班费政策，以及以绩效考核为压力机制，迫使员工 无偿加班。一些员工因此出现心理健康问题，甚至选择离职。员工自今年初已三次向总部提交举报材料，最近一次发生在9月。集团曾在5月展开内部审计， 但原计划于7月访华的前首席执行官因病离职，使审计行动未能持续推进。 业内人士指出，此次举报并非孤立事件，而是在 Valentino 经营压力不断加剧的背景下集中爆发。根据集团公开财报及路透社报道，Valent ...

Core Viewpoint - The case of Nicolas Piesch, the fifth-generation heir of Hermès, involves allegations of financial misconduct against his former wealth manager, Eric Fremont, leading to the mysterious disappearance of approximately $15 billion in assets [1][3][9]. Group 1: Allegations and Legal Proceedings - Nicolas Piesch claims that he has lost access to $15 billion worth of Hermès shares, which he alleges were mismanaged by Eric Fremont, his wealth manager for 25 years [1][3]. - In September 2023, Piesch filed three lawsuits against Fremont, accusing him of breach of trust and asset misappropriation, seeking billions in compensation [3][4]. - Fremont, who died shortly after being questioned by French authorities, had been accused of document forgery and aggravated breach of trust [4][10]. Group 2: Financial Background and Family Dynamics - Piesch was once the largest individual shareholder of Hermès, holding 5.7% of the company, with a net worth that peaked at $15.6 billion [3][9]. - The relationship between Piesch and Fremont deteriorated after a disputed transfer of 1 million Swiss francs, leading Piesch to question Fremont's integrity [8]. - The Hermès family has long suspected Piesch of secretly selling shares during a hostile takeover attempt by LVMH, with recent audits suggesting that 90% of his shares were sold during that period [9][10]. Group 3: Personal Relationships and Controversies - Piesch's personal life has been complicated by his intention to leave his wealth to a Moroccan gardener, which raised suspicions of manipulation by those close to him [11][12]. - Fremont reported concerns to Swiss authorities about Piesch's relationship with the gardener and his wife, suggesting potential exploitation [12]. - Despite the ongoing investigations, Piesch remains convinced he is a victim of a grand financial scheme, while Swiss courts have dismissed his claims of fraud [13].