据悉，该物业位于Via Orobia3,Milan,Italy的一幅面积约14,800平方米的土地，由两个相连部分。该物业 位于受到先前称为"Scalo di Porta Romana"的大型重建及城市更新项目所影响的区域。该项目包括开发 2026年米兰-科尔蒂纳冬奥会的奥运村、兴建新的住宅及办公大楼以及打造一个预期将兼顾重大环境影 响与强烈视觉冲击的大型公园。 普拉达(01913)涨超3%，截至发稿，涨3.17%，报46.22港元，成交额3087.24万港元。 消息面上，普拉达发布公告，于2025年11月18日，本公司与Ludo Due S.r.l.订立该协议，本公司购入及 Ludo Due S.r.l.出售该物业，代价为6658.8万欧元。 值得注意的是，于2015年完成的Prada基金会项目已对周边区域产生重大正面影响，对周边区域的复兴 及Covivio完成"共生(Symbiosis)"发展均作出贡献。其他领先的奢侈品企业亦已于该区域进行投资及设立 新总部。 ...

每经AI快讯，11月19日，开云集团欧股开盘下跌2%，此前公司CEO称必须裁员、降低对古驰的依赖并 寻求协同效应。 ...

值得关注的是，据市场媒体报道，普拉达财务总监Andrea Bonini表示，公司仍计划成为一间双重上市的 公司，对在意大利上市的计划仍然有6个月的时间考虑，目前不会作出任何承诺。他认为，目前奢侈品 市场稳定，美国市场情况良好，总体而言很难挑剔美国表现，不过情况可能不会一帆风顺，因为当市场 泡沫助长过度乐观情绪时，公司需要时刻保持警惕。 消息面上，普拉达近期发布2025年三季度业绩，花旗认为，普拉达第二及第三季收入增长放缓至单位 数，当中Prada品牌更自2020年起首次录得负增长；虽然Miu Miu品牌增长步伐仍较同行快，但进一步常 态化。该行认为，集团目前仍须对Miu Miu品牌投入大量广告行销、生产制造、IT基建及零售网络扩张 资源，可能抑制利润率扩张，并维持于2024年的23.6%水平，较历史高位低约350基点。 普拉达(01913)跌超4%，截至发稿，跌3.32%，报46.6港元，成交额2827.46万港元。 ...

Investment Dynamics - Thunder Innovation has completed a Series C financing round led by CITIC Jinshi, with participation from CITIC Securities International Capital and CITIC Securities Investment. The funds will focus on R&D in near-eye display, AI algorithms, and multimodal interaction, aiming to transition AR glasses from niche products to mainstream smart devices [3] - Nestlé is intensifying its efforts to develop nutritional solutions targeting emerging growth areas, particularly focusing on women's health, longevity, and weight management through strategic collaborations with universities [6] - Timex Group has acquired a 51% stake in Daniel Wellington, marking the brand's entry into Timex's multi-brand matrix while maintaining its independence and design ethos [8] - Wancheng Group plans to launch a non-deal roadshow (NDR) for its Hong Kong IPO on November 11, aiming to raise approximately $300 million to $500 million, equivalent to about 2.1 billion to 3.6 billion RMB [11] - Meet Noodle is set to begin its pre-IPO roadshow this month, with expected fundraising between $100 million to $200 million, which will be used for store expansion and central kitchen development [14] - If Coconut Water has signed a memorandum of cooperation with the Shanghai Xihongqiao government to establish its first mainland China branch, enhancing its product matrix and consumer service experience [17] Financial Reports - Swire Properties reported that as of September 30, 2025, its three core shopping centers in Hong Kong maintained a 100% occupancy rate, with retail sales increasing by 3.6%, 3.0%, and 0.2% year-on-year [19] - Tapestry, the parent company of Coach, reported a 16% increase in sales for the first fiscal quarter, reaching $1.7 billion, with adjusted operating income rising by 24.2% to $354 million [21] Personnel Dynamics - PepsiCo plans to close two Frito-Lay facilities in Orlando, Florida, affecting a total of 500 jobs, as part of its strategy to curb declining snack sales in the U.S. [23] - Diageo has appointed Dave Lewis as CEO, effective January 1, 2024, who previously served as CEO of Tesco and has extensive experience at Unilever [26]

Core Insights - The eighth China International Import Expo (CIIE) showcases 4,108 companies from 138 countries and regions, highlighting the importance of international cooperation and the benefits of China's vast market to the global economy [1][4]. Group 1: Market Opportunities - The expo features popular products such as Peruvian blueberries and Malaysian durians, demonstrating the successful integration of global agricultural products into the Chinese market [2]. - The event has seen significant participation from multinational companies, with new product launches aimed at enhancing the quality of life for Chinese consumers [2]. - China is projected to import goods worth 18.4 trillion yuan and services worth 4.3 trillion yuan in 2024, reflecting a growth of over 60% compared to a decade ago [4]. Group 2: Trade Agreements and Collaborations - China has signed procurement agreements with 34 partners from 17 countries, with a total procurement value exceeding 40.9 billion USD, covering various products including crude oil and chemicals [4]. - The country has reduced its overall tariff level to 7.3% and has established zero tariffs for 100% of products from the least developed countries with which it has diplomatic relations [4][10]. Group 3: Economic Impact on Developing Countries - The expo has facilitated significant business opportunities for small enterprises from developing countries, with a total export value exceeding 82 million USD since 2019 [6]. - The participation of African enterprises has increased by 80% compared to previous years, showcasing unique products and benefiting local communities [10]. Group 4: Future Initiatives - The "Shared Market, Export to China" initiative aims to enhance cooperation and expand export opportunities, inviting global partners to engage with the Chinese market [11]. - The Ministry of Commerce plans to host ten thematic activities to promote trade and investment, ensuring that more products can enter the Chinese market [11][12].

Group 1: L'Oréal and Armani Group - L'Oréal's CEO Nicolas Hieronimus expressed willingness to negotiate with Armani Group as per the late Mr. Armani's will [3] - The will stipulates that heirs must sell 15% of Armani Group's shares within 18 months and transfer an additional 30%-54.9% within 3-5 years to the same buyer [3] - L'Oréal recently acquired Kering Beauty for €4 billion and has sufficient cash reserves, indicating capability for independent or partnered investment in Armani [3] Group 2: Brownes Dairy - Brownes Dairy plans to seek buyers or investors next year, with the sale process already underway [5] - The company has garnered significant interest from potential investors and aims for an IPO in 2026 [5] - Brownes Dairy was previously put up for sale after a loan recovery by Mengniu, amounting to AUD 200 million (approximately RMB 92 million) [5] Group 3: Qingdao Beer - Qingdao Beer terminated its plan to acquire 100% of Jimo Yellow Wine due to unmet conditions in the share transfer agreement [7] - The acquisition was expected to enhance Qingdao Beer's market position and open new growth avenues [7] Group 4: KKR and Costa Coffee - KKR is among a few companies negotiating to acquire Costa Coffee from Coca-Cola [10] - Costa Coffee, the largest coffee chain in the UK, has seen a reduction in store numbers in China since its acquisition by Coca-Cola for £3.9 billion in 2018 [10] - KKR's expertise in the food supply chain and digital integration could enhance Costa's business model and cash flow if the acquisition proceeds [10] Group 5: Haidilao - Haidilao is set to open its first hamburger store, "Xiao Hai Ai Zha hiburger," in Hunan, indicating a shift towards expanding its product line [13] - The new store is an upgrade from an existing brand and aims to attract younger consumers with its hamburger offerings priced between RMB 28-39.9 [13] Group 6: 7-Eleven Japan - 7-Eleven Japan will launch hydrogen-roasted coffee in collaboration with UCC, using hydrogen as a heat source for roasting [17] - The new coffee product is priced at 149 yen (approximately RMB 7), slightly higher than regular hot coffee [17] - This initiative aims to enhance 7-Eleven's brand image and attract a more niche consumer base through an environmentally friendly narrative [17] Group 7: IKEA - IKEA's global retail sales fell by 1% in the 2025 fiscal year, marking the second consecutive year of decline [19] - Despite the sales drop, product sales and customer numbers increased by 3%, with 66 new sales points opened globally [19] - IKEA continues to implement a pricing strategy aimed at attracting more consumers amid intense market competition [19] Group 8: Moutai Group - Moutai Group announced a significant leadership change, appointing Chen Hua, the former head of Guizhou Energy Bureau, as the new chairman [22] - This marks the fourth leadership change in five years for the liquor giant, with expectations for Chen to drive expansion into new consumer segments [22] Group 9: Wahaha - Reports indicate that Zhu Lidan, a core executive at Wahaha, has left the company, with her office vacated [25] - This departure follows a leadership transition at Wahaha, where Zong Fuli took over, leading to the exit of several long-standing executives [25] - The loss of Zhu, known for her cost control expertise, may impact the company's operational efficiency and negotiation capabilities [25] Group 10: Alexander McQueen - Alexander McQueen announced a three-year strategic review, initiating a restructuring plan that includes cutting approximately 55 jobs, or 20% of its London headquarters staff [27] - The brand aims to simplify its international market structure to restore growth confidence [27] - The restructuring reflects a shift towards a more pragmatic approach for the luxury brand, known for its unique niche [27]

Core Insights - The Prada Group has conducted a revenue update for the first nine months of 2025, indicating a focus on financial performance and strategic direction [1]. Group Overview - Andrea Bonini serves as the CFO and Executive Director, while Andrea Guerra is the Group CEO, highlighting the leadership structure during the presentation [1]. Financial Performance - The presentation aims to provide insights into the company's revenue performance, although specific financial figures and growth percentages are not detailed in the provided text [1].

Group 1 - Morgan Stanley reported that Prada's sales in Q3 increased by 8.5% at constant exchange rates, slightly above market consensus, with retail sales growth of 7.6% aligning with expectations, driven primarily by the volatile wholesale channel [1] - Prada remains one of the fastest-growing groups, with growth rates nearly comparable to Hermès, significantly outpacing French luxury giants LVMH and Kering [1] - Morgan Stanley has lowered its earnings per share forecast for Prada for FY2025-2026 by 0.6% but maintains a target price of HKD 53, while keeping a "market perform" rating due to observed investment opportunities in the luxury sector [1] Group 2 - Market reaction to Prada's results is expected to be muted, as the company's revenue barely meets market expectations, leading to a forecast of price range fluctuations in the coming days or months [1] - Three main concerns are highlighted: increased competition in the creative field with the influx of new creative directors, potential loss of Miu Miu's competitive edge as a brand that has innovated and provided differentiated products [1] - A shift in fashion trends from minimalism to maximalism may disadvantage both Prada and Miu Miu, as more elaborate brands like Gucci gain popularity [1] Group 3 - The acquisition of Versace is projected to dilute the group's profit margins for at least the next few years, with estimated operating losses of EUR 150 million in FY2026 and EUR 120 million in FY2027, indicating minimal profit growth for the group [2] - Morgan Stanley has revised its revenue growth forecast for the group in 2025 down to 6.6% from an original 8.5%, while maintaining an EBITDA margin of 23.4% [2] - By brand, Prada's revenue is expected to decline by 1.3% year-on-year in Q4, while Miu Miu's revenue growth forecast is slightly adjusted down to 30% [2]

Financial Data and Key Metrics Changes - The Prada Group recorded net revenues of €4.1 billion in the first nine months of 2025, representing a 9% increase compared to the same period last year at constant FX [9] - Retail sales increased by 8% in Q3 compared to the prior year, while wholesale sales rose by 4% in the first nine months and 19% in Q3 [9][10] - Royalties grew by 11% over the periods, supported by eyewear and beauty segments [10] Business Line Data and Key Metrics Changes - Prada's performance was resilient, with a -2% change in the first nine months, while Miu Miu reported a significant growth of 41% overall and 29% in Q3 [10] - Church's also returned to double-digit growth in the quarter [11] Market Data and Key Metrics Changes - Asia Pacific saw a 10% growth in the first nine months, with Q3 showing similar trends [11] - Europe experienced a 6% increase, while the Americas had a 15% growth in the nine months, accelerating to 20% in Q3 [11] - The Middle East delivered a solid performance with a 21% increase in the nine months [12] Company Strategy and Development Direction - The company remains committed to creative leadership and plans to continue investing in creativity and desirability [13] - There is a focus on enhancing retail excellence and optimizing store locations, with plans to close underperforming stores while expanding in key areas [29][86] Management's Comments on Operating Environment and Future Outlook - Management noted a plateau in growth in China, with expectations of gradual improvement [20][71] - The company is optimistic about the upcoming holiday period and expects to see continued improvement in Q4 [13][14] Other Important Information - The company is cautious about store expansion, particularly for Prada, while Miu Miu has seen successful store openings [29] - The impact of exchange rates on revenue was noted, with a negative effect of approximately 260 basis points in the first nine months [10] Q&A Session Summary Question: Update on Versace integration - Management clarified that the transaction is not yet closed and is awaiting authorizations [18] Question: Current trading and improvement drivers - Management indicated that the recent improvements are consistent with previous trends, with a plateau observed in China and a strong local customer base in Japan [20] Question: Wholesale trends in Q3 - Management confirmed there were no exceptional factors affecting wholesale trends [22] Question: Cluster trends for key Prada brands - All clusters showed positive growth, with local transactions driving improvements across regions [28] Question: Store expansion plans for Prada and Miu Miu - Miu Miu has successfully opened new stores, while Prada is taking a more cautious approach to expansion [29] Question: Margin expectations for the upcoming year - Management did not provide specific guidance but indicated that they are on track to meet previous margin improvement targets [36][41] Question: FX headwinds for H2 and 2026 - Management acknowledged potential FX headwinds but emphasized that hedging strategies would mitigate impacts for 2025 [42] Question: Aspirational customer trends - Management noted weak signals of improvement but emphasized that the current environment is a plateau [53] Question: Pricing policy for 2026 - Management plans to maintain a similar pricing strategy as in previous years, with adjustments based on regional differences [108] Question: Growth by product category in Q3 - Leather goods showed significant growth for Prada, while ready-to-wear remained the cornerstone for Miu Miu [110]

Core Insights - Prada Group reported a net revenue of €4.07 billion for the nine months ending September 30, 2025, representing a 9% year-over-year increase at constant exchange rates [1] - Retail sales net revenue increased by 9% year-over-year at constant exchange rates, while Prada's retail sales net revenue decreased by 2% at constant exchange rates [1] - Miu Miu's retail sales net revenue saw a significant increase of 41% year-over-year at constant exchange rates [1] Regional Performance - All regions experienced growth in retail sales net revenue at constant exchange rates compared to the same period in 2024: - Middle East: +21% - Americas: +15% - Asia-Pacific: +10% - Europe: +6% - Japan: +3% [1]