Core Insights - Kering Group has announced the sale of its beauty business to L'Oréal for €4 billion, marking a significant strategic shift after a two-year investment in the beauty sector [2][4] - The transaction includes the acquisition of the Creed perfume brand and beauty licenses for Gucci, Bottega Veneta, and Balenciaga, with completion expected in the first half of 2026 [2][4] Strategic Shift - The decision to sell was driven by new CEO Luca de Meo, who has implemented major reforms within a short period, including leadership changes and restructuring [4] - The agreement outlines three key areas: acquisition of Creed, management of beauty licenses for luxury brands, and a joint venture to explore opportunities in health and longevity [5] Financial Context - Kering faces significant financial pressure, with net debt reaching €9.5 billion and long-term lease liabilities of €6 billion as of June 2025 [6] - Gucci's performance has been declining, with operating profit dropping 52% to €486 million and revenue falling 16% to €7.587 billion in the first half of 2025 [6] Market Dynamics - Despite Kering's beauty segment achieving a 9% growth rate in the first half of 2025, this was insufficient to alleviate the overall financial challenges faced by the group [6] - The sale is seen as a strategic move to reduce debt and streamline operations, as luxury beauty businesses typically require significant investment and time to develop [6][8] Industry Implications - The sale signals a potential shift in luxury brand strategies, with Kering's partnership with L'Oréal indicating a trend towards equity collaborations rather than traditional licensing or self-managed beauty divisions [8] - The luxury beauty market has been one of the fastest-growing segments, and the collaboration aims to leverage L'Oréal's expertise while maintaining the luxury brand's identity [7][8]

【导语】开云集团将美妆业务出售给欧莱雅，释放行业新信号 中国基金报记者 赵心怡 两年高调布局，一朝"转身离场"。开云集团的美妆战略发生戏剧性转变。 10月20日，开云集团在官网宣布，以40亿欧元的价格将美妆业务出售给欧莱雅集团，包括去 年才以35亿欧元收购的香水品牌Creed，以及古驰、葆蝶家、巴黎世家等品牌的50年美妆授 权许可。本次交易将于2026年上半年完成。 图源：开云集团官网 此次开云集团的决定由9月刚刚上任的新CEO卢卡·德梅奥（Luca de Meo）推动。这位被称 为"雷诺救世主"的掌舵人，在上任不到两个月的时间里，便在开云集团推行了一系列"大刀阔 斧"的改革，包括给古驰换帅、取消集团副首席执行官等。 与2023年大张旗鼓组建美妆部门形成鲜明对比，开云的退出引发业内热烈讨论：当奢侈品集 团纷纷加码美妆业务之际，为何开云"激流勇退"？ 战略急转：三项关键布局 根据双方协议，此次合作有三大关键布局：欧莱雅将收购香水品牌Creed；接管三大奢侈品牌 （古驰、葆蝶家、巴黎世家）的美妆授权；双方共同探索健康与长寿领域。 当前古驰香水的授权由科蒂持有，预计新授权将在2028年科蒂现有授权期满后正式启用。 ...

0:00 21世纪经济报道 记者凌晨 一场围绕"重组胶原蛋白"的行业对决，将两位区域女首富与其上市公司推向台前。陕西范代娣领导的巨 子生物曾是赛道标杆，而山西杨霞执掌的锦波生物正通过新品牌"同频"跨界切入C端护肤市场。 战事首先在电商直播间打响。同频在李佳琦直播间快速崛起，今年双十一李佳琦首场直播中GMV增速 位列第二。同时，一向低调的锦波生物创始人杨霞罕见为同频站台，被视为其从B端药械进军C端美妆 的明确信号。 从胶原蛋白药械到美妆，锦波的降维入场，无疑对主攻C端的巨子，形成正面冲击。同样的流量带货手 法、同类型的产品，锦波能否凭借医药背景实现超车，将决定胶原蛋白市场下一阶段的格局走向。 ...

Core Insights - Tmall's 2025 Double 11 event will officially start selling in-stock products at 8 PM on October 20, featuring significant discounts and promotional offers for consumers [1][2] Discounts and Promotions - Consumers can enjoy an official 15% discount on top of a no-threshold 10% coupon, with the 88VIP no-threshold coupon reaching a record high of 1350 RMB, which can be combined with other platform discounts [1] - Various industry-specific coupons for beauty, apparel, and outdoor sports have been introduced, with record-high amounts available for consumers, including a 3000 RMB off 400 RMB coupon for beauty products and apparel [1] - In the home appliances and 3C digital sector, consumers can benefit from a combination of discounts, including a 15% discount, a 10% coupon, up to 20% national subsidies, and 5% brand store red envelopes, leading to prices as low as 50% off [1] Special Offers and Bundles - Tmall will launch a "billion-dollar subsidy" program featuring 100 bundled products from brands like Apple, Huawei, and Lego, with significant discounts available starting at 8 PM [2] - For example, the Apple bundle, originally priced at 10,897 RMB, will be available for 8,999 RMB during the event [2] - The payment period for the final amounts will be from 8 PM on October 20 to midnight on October 25, with in-stock sales continuing until November 14 [2]

Group 1 - Tmall's Double 11 event offers significant discounts, including an 85% reduction combined with a no-threshold 10% coupon, marking the best deals of the year [1] - The 88VIP no-threshold 10% coupon reaches a record high of 1350 yuan, which can be stacked with other platform discounts [1] - Various industry-specific coupons are available, with beauty and apparel categories offering high-value discounts, including a 3000 yuan off 400 yuan coupon for beauty products [1][2] Group 2 - The event features a total of four discounts for home appliances and digital products, with prices dropping to as low as 50% off, making it an ideal time to purchase items like the iPhone 17 series [2] - Tmall has upgraded to a major consumption platform, with 37,000 brands participating in the flash sale service for the first time during this Double 11 [2] - The event includes a "Family Bucket" promotion with significant discounts on popular products, such as a bundle including the iPhone 17, AirPods Pro 3, and Apple Watch Series 11 for 8999 yuan [2] Group 3 - Popular products are highlighted for the event, including a beauty cream at 3.6 times off, a top-rated jacket priced at 440.1 yuan, and an air conditioner available for 2479.2 yuan after discounts [3] - The payment period for the event runs from October 20 at 8 PM to October 25 at midnight, with the overall sale lasting until November 14 [3]

（文章来源：每日经济新闻） 每经AI快讯，10月20日，开云集团股价上涨约4%，欧莱雅股价上涨1.7%。消息面上，开云集团同意将 旗下美妆部门出售给欧莱雅。 ...

Core Points - The 2025 Tmall Double 11 event officially starts selling in-stock items at 8 PM, offering the best discounts of the year with multiple benefits including an 85% discount and additional coupons [1] - Customers can maximize their savings by obtaining coupons before 8 PM and placing orders after the sale begins, with record-high coupon values available for 88VIP members [2] - The event features significant discounts on popular products, including a special "family bucket" deal for brands like Apple and Huawei, with prices significantly reduced compared to market rates [3][4] Summary by Category Discounts and Coupons - Tmall Double 11 offers an 85% discount combined with a no-threshold 9% coupon, with additional category-specific coupons available, allowing for substantial savings [2] - 88VIP members can access a record-high no-threshold coupon worth 1350 yuan, and various category coupons for beauty and apparel with high discount values [2] Product Highlights - The event includes a "family bucket" promotion featuring 100 popular products, such as the Apple bundle priced at 8999 yuan, significantly lower than the market price of 10897 yuan [3] - Notable discounts on beauty products and electronics, including a 3.6-fold discount on popular skincare items and significant reductions on appliances like air conditioners [3] Event Timeline - The payment for orders can be made from October 20 at 8 PM until October 25 at midnight, with the in-stock sale running until November 14 at 24:00 [4]

活动期间，多位学生代表登台分享从灵感到作品落地的完整创作历程，从最初以东方美学为锚点解 构"中国美"，到以技术创新为路径演绎传统元素，独特的视角和细腻的感悟展现出新生代学子在AIGC 领域的敏锐洞察与不懈探索，也让行业嘉宾直观感受到年轻力量在数字内容创作上的热情与潜力。 专家学子，共筑数字美学盛宴 据悉，百雀羚在赛事招募期间，组织了专场直播培训，邀请AIGC技术、艺术美学等领域专家作为技术 指导解读比赛命题，让科技应用结合美学主张的理念深度触达青年群体，实现"以赛育人"与"文化传 播"的双向赋能。 在作品评审环节，大赛也构建起专业、公正的评审体系，评委组汇聚AI技术及艺术教育学者及美妆行 业专家，从"技术创新性、艺术表现力、概念前瞻性及社会价值"等多个维度，对作品进行严谨而公正的 评审，既为作品的产业转化潜力提供专业意见，也为赛事注入深厚的国妆智慧，更以对科技与艺术融合 的独到见解，确保最终获奖作品兼具技术高度、美学价值与落地潜力，切实提升赛事成果的含金量。 星光熠熠，见证AIGC荣耀时刻 来源：环球网 10月18日，首届"百雀羚发现中国美|全国大学生AIGC创意设计大赛"圆满收官，于北京阿里巴巴朝阳科 技园 ...

Core Viewpoint - Kering Group announced an agreement with L'Oréal Group for the sale of its beauty division for €4 billion, marking a significant strategic shift for Kering [1] Group 1: Transaction Details - L'Oréal will acquire Kering's beauty business, which includes the Creed brand and a 50-year license for several luxury brands such as Bottega Veneta and Balenciaga [1] - Gucci will join the agreement after the expiration of its licensing period with Coty Group [1] - The transaction will be a cash payment and is expected to be completed in the first half of 2026 [1] Group 2: Financial Performance - Kering's beauty division reported annual revenue of €323 million for 2024, primarily driven by the Creed brand [1]

Group 1: Foreign Trade Performance - In the first three quarters of the year, China's foreign trade import and export reached 33.61 trillion yuan, a year-on-year increase of 4% [1] - Exports amounted to 19.95 trillion yuan, growing by 7.1%, while imports were 13.66 trillion yuan, showing a slight decline of 0.2% [1] - In September alone, the total import and export value was 4.04 trillion yuan, reflecting an 8% growth [1] Group 2: Export Product Trends - In the first three quarters, China exported 12.07 trillion yuan worth of electromechanical products, marking a 9.6% increase and accounting for 60.5% of total exports [2] - High-tech products such as electronic information, high-end equipment, and instruments saw growth rates of 8.1%, 22.4%, and 15.2% respectively [2] - New categories of products, including "new three samples" and railway electric locomotives, experienced double-digit growth [2] Group 3: International Business Expansion - Alibaba and Ant Group jointly invested 9.25 billion USD (approximately 66 billion yuan) to establish their Hong Kong headquarters, aiming to expand international business [6] - This move is seen as a strategic step to leverage Hong Kong as a base for global development [6] Group 4: E-commerce Tax Reporting - Amazon announced it will report seller tax information to Chinese tax authorities quarterly, starting from October 31, 2025 [7] - This initiative is part of a broader effort to enhance tax regulatory transparency in China's cross-border e-commerce sector [8] Group 5: Trade Fair Participation - The 138th Canton Fair concluded with nearly 158,000 overseas buyers attending, representing a 6.3% increase from previous events [3] Group 6: Regional Trade Performance - Guangdong's foreign trade import and export reached 7.02 trillion yuan in the first three quarters, a 3.8% increase year-on-year, accounting for 20.9% of the national total [4] - Exports from Guangdong were 4.48 trillion yuan, growing by 1.4%, while imports increased by 8.2% to 2.54 trillion yuan [4] Group 7: Cultural Products Export - In the first three quarters, exports of holiday products, dolls, and animal-shaped toys exceeded 50 billion yuan, showcasing the global influence of Chinese traditional culture [5]