Core Insights - The acquisition of Versace by Prada marks a significant turning point for both brands, with the deal valued at €1.25 billion (approximately ¥10.278 billion), representing Prada's largest acquisition in its 112-year history [1][6]. Group 1: Versace's Historical Context - Founded by Gianni Versace in 1978, the brand became a major player in the fashion industry, achieving over $1 billion in annual revenue by 1990 and gaining recognition alongside Italian fashion giants like Armani and Gucci [3]. - The brand faced a major setback with the assassination of its founder in 1997, leading to a decline in its market position despite efforts by his sister Donatella to revitalize the brand [3][4]. - Versace's financial struggles continued, with revenues dropping from over $1.1 billion to below $830 million by the fiscal year 2025, prompting the need for a sale [3][4]. Group 2: Acquisition Details - The acquisition process began when Capri Holdings, the parent company of Versace, sought to sell the brand to alleviate financial pressures, initially considering a sale to Tapestry, Inc. for $8.5 billion, which ultimately fell through [5][6]. - Following this, Prada expressed interest in acquiring Versace, culminating in the announcement of the €1.25 billion deal on December 2 [1][6]. - This acquisition is part of Prada's strategy to diversify its brand portfolio, with expectations that Versace will contribute approximately 13% to the group's projected revenue, while Prada and Miu Miu are expected to account for 64% and 22%, respectively [7]. Group 3: Future Outlook - Prada has secured a €1.5 billion financing agreement to support the acquisition and has stated that it will focus on integrating Versace into its operations for at least the next three years [7]. - The appointment of Lorenzo Bertelli as the executive chairman of Versace indicates a commitment to leveraging the brand's unique aesthetic to enhance Prada's overall brand synergy and growth potential [7].

双方的交集由来已久。此前，杨幂多次身着 Prada 服饰出席活动、登上杂志封面。在官宣大片中，她以 经典 Polo 衫搭配 Bonnie 手袋，或身穿再生尼龙夹克配百褶裙和 Explore 手袋，呈现 Prada 特有的理性 气质与前卫态度。 （原标题：杨幂出任 Prada 代言人） Prada 宣布演员杨幂出任品牌代言人。作为当代华语影视领域具有代表性的面孔，她的作品长期保持讨 论度与影响力。多年来，她在不同阶段不断拓展表达、尝试新的方向，这种持续成长的姿态与清晰的自 我判断，构成了此次合作的基础。 ...

下半年奢侈品市场最重要的一个消息，来自于中国中检。 双11前，中国中检鉴定师开始入驻电商平台奢侈品仓，对仓内奢侈品进行全检，并逐步实现鉴定报告全 覆盖：这是中检首次驻仓、售前全检，也是电商平台奢侈品首次全部附带中检的鉴定报告。 某种程度上，这个有些低调的消息像一个"深水炸弹"，里面蕴藏着某些可能改变行业的潜能。业内人士 称："线上奢侈品行业的门槛在肉眼可见地提升。" 起于青萍之末的大风，正在掠过最繁华的消费场。 中检入局 中国中检在中国质量服务行业的位置有多重要，甚至不需要赘述——它是经国务院批准设立、国务院国 资委管理的中央企业，也是唯一一家以"检验、检测、认证、标准、计量"为主业的央企。 如果只看这些简介，仍然很难直观地感受中检在奢侈品鉴定领域的地位。事实上，中检就是奢侈品鉴定 界的黄埔军校。奢侈品鉴定领域几乎所有的成熟、专业的鉴定师，都曾在中检开设的鉴定师培训班上 课，并拿到中检授予的"鉴定师资格证书"。 这就不难理解，为什么在奢侈品方面，中检认证过的鉴定报告，几乎就是正品的代名词。 此次中检鉴定师入驻唯品会奢侈品仓，某种程度上是对中检专业能力的一种放大：此前，中检更多以抽 检或者事后送检的方式参与到电 ...

2025年10月9日，中国黄金珠宝行业领军企业老凤祥（股票代码：600612）宣布一项重大战略举措：入 股德国奢华品牌迈巴赫奢侈品亚太公司，并同步获得其多元生活产品系列在上海的独家经营权以及亚太 的非独家经销权。这一合作不仅标志着老凤祥首次跨界进军高端奢侈品领域，更被视为其品牌战略升级 的关键一步，旨在通过入股国际顶级奢侈品牌拓展快速增长的高端消费市场。此举将加速老凤祥从传统 黄金珠宝商向多元化奢侈品集团的转型，为中国品牌迈向高端化与国际化树立新标杆。 老凤祥与迈巴赫奢侈品亚太有限公司签署《战略合作协议》 迈巴赫作为德国汽车巨头梅赛德斯-奔驰旗下的奢华品牌，象征着尊贵身份与匠心传承，其产品线涵盖 高端汽车、皮具和配饰，在全球奢侈品市场享有盛誉。此次战略合作，意味着老凤祥将与迈巴赫奢侈品 共同推进其旗下高端产品在亚太市场的品牌推广、渠道建设及客户运营工作，为双方创造深度协同效 应。 深度剖析：品牌战略转型的核心引擎 从单一黄金珠宝商升级为聚合奢侈品品类的高端消费生态构建者，老凤祥实施这一战略的关键点在于通 过与迈巴赫奢侈品的合作进入高端奢侈品消费赛道，聚焦"资源整合与品牌升维"，具体表现在品牌形 象、市场扩容、 ...

点击上图▲立即报名 文 / 巴九灵（微信公众号：吴晓波频道） 初冬的泉州，是被时光偏爱的城。异木棉铺就一路浪漫花海，古街青石板镌刻千年沧桑，开元寺的石柱承载着宋元遗风，清真寺的回响诉说着海 丝传奇。 这座马可・波罗笔下的"东方第一大港"，既有"古韵刺桐"的人文肌理，又藏着敢闯敢拼的商业基因。此次吴晓波激荡讲堂冬季课，以《中国式商 业模式及成败探讨》为主题，将来自各行各业的企业家学员集聚在这个城市。 三天的思想盛宴中，吴晓波老师以泉州千年商业文明为底色，围绕中国式商业模式的底层逻辑、迭代方向与成败关键，带来了深入浅出的干货分 享。 拥有25年奢侈品牌管理经验的宝珀中国副总裁廖信嘉先生，以"在时间中修行"为主题，深度拆解了顶级品牌如何构建不可撼动的核心竞争力， 分享了流量时代下品牌营销与调性坚守的平衡之道。 课程落幕，思考不止。学员们带着满满的收获与感悟，将所见所闻、所思所悟落笔成文，字里行间既有对自身商业模式的复盘，也有对行业未来 的展望。我们将其中精华整理成册，化作这场思想之旅的珍贵回响，与你共赏。 左右滑动 ▲ 查看更多 高秀荣 寻根商业基因 ， 锚定未来方向 吴晓波激荡讲堂 激荡班 辽宁凤翥荣熙文化传媒广 ...

Core Insights - The article emphasizes that Western companies' previous perception of the Chinese market as a "cash cow" is over, and they now face a challenging and competitive environment [1][3][5] Group 1: Market Dynamics - The Chinese market has transformed from a comfortable zone to a complex and competitive landscape, with foreign companies now facing significant challenges from local competitors [3][5] - Brands like Starbucks have lost their market leadership to local players such as Luckin Coffee, which employs aggressive pricing and speed strategies [3][5] - Foreign companies are now engaged in a fierce battle to protect their profits, having to lower prices and compete in ways they previously did not [3][5] Group 2: Competitive Pressure - The Chinese market is described as a "high-pressure chamber" for global business competition, where companies must innovate and control costs more effectively than in other regions [5][12] - Local companies' rapid product iterations and strict cost controls create a challenging environment for Western firms accustomed to slower development cycles [5][12] Group 3: Adaptation Strategies - Many Western brands are undergoing significant transformations to survive, such as Guerlain launching more affordable product lines to attract younger Chinese consumers [7] - Companies like 3M have reduced their product launch cycles to 10 months to keep pace with local competitors, while Volkswagen has increased its new model development speed by 30% [7][8] - Procter & Gamble has established R&D centers in China, treating the market as a testing ground for global innovation [8] Group 4: Corporate Decision-Making - There is a notable disconnect between the efforts of local teams in China and the conservative decision-making of their headquarters in the West, influenced by geopolitical tensions [10] - Some companies, like Ralph Lauren and 3M, have managed to achieve growth in China by quickly adapting to local market rhythms and committing to localization strategies [10] Group 5: Future Outlook - For most foreign companies, the Chinese market is no longer just a source of profits but a test of their competitive strength [12] - The choice for foreign firms is clear: either continue to struggle in the Chinese market to build competitiveness or retreat to their comfort zones and risk being surpassed by Chinese companies [12]

整理 ｜ 贺哲馨 #Big News# 爱马仕继承人起诉LVMH， 称市值 百亿欧元股份遭"非法转移" 爱马仕继承人与LVMH股份纠纷再起。 当地时间12月2日，据报道，爱马仕第五代继承人、82岁的尼古拉·皮埃什（Nicolas Puech）已对 LVMH集团及其董事长贝尔纳·阿尔诺（Bernard Arnault）提起诉讼。皮埃什指控其长达25年的财富 管理人埃里克·弗雷蒙德（Eric Freymond），通过隐瞒与欺骗手段，将其曾持有的大量爱马仕股份 秘密转移给了LVMH集团。 根据诉讼文件摘录，巴黎司法法院曾在5月估计，皮埃什曾拥有的相关股份按现价计算价值约140亿 欧元。巴黎检察官办公室已就此展开刑事调查，目前仅弗雷蒙德被正式立案，阿尔诺及LVMH尚未被 列为调查对象。被告方均未对此置评。 LVMH与爱马仕的恩怨可追溯至2010年。2001年至2013年间，LVMH曾通过复杂操作增持爱马仕股 份至超23%，2014年，双方经法律交锋后以LVMH承诺不再增持并转让股份告终，"双方皆称自己取 得了胜利。" 根据两者最后达成的协议，处于阿尔诺控制下的奢侈品巨头LVMH酩悦·轩尼诗-路易·威登集团 (LVMH ...

Investment Dynamics - Baolan Gold has completed over 100 million RMB in Series A financing, led by Challenger Capital, with participation from Kering Group and Shunwei Capital [3] - The funds will be used to deepen brand value, expand channel layout, upgrade supply chain resilience, and empower core talent, further consolidating its advantage in the high-end gold jewelry sector [3] Acquisition Dynamics - JD.com has acquired 85.2% of Ceconomy, a leading European consumer electronics retailer, for approximately 2.2 billion euros (about 181 billion RMB) [6] - This acquisition allows JD.com to access Ceconomy's established offline store network and local supply chain, aiming to transform stores into instant retail warehouses and reduce delivery times from 2-3 days to hours [6] - This deal marks the largest acquisition by a Chinese e-commerce company in Europe, enhancing JD.com's overseas business growth [6] - Canadian plant-based snack company Trubar has been acquired by Turkish food company ETİ Gıda for approximately 201 million CAD (about 10 billion RMB) [8] - The acquisition is expected to be completed by Q1 2026, with Trubar's shares delisting from the Toronto Stock Exchange [8] - The deal may open a window for mergers among local startups in the Canadian plant snack market [8] Brand Dynamics - COS, a brand under H&M Group, will reopen its flagship store in Beijing's Sanlitun on December 24, with plans for additional stores in Dalian, Jinan, and Wuhan by early 2026 [9] - The flagship store's design integrates contemporary minimalist aesthetics with Beijing's cultural heritage, reflecting the brand's alignment with local culture [9] - COS aims to strengthen its presence in first-tier and new first-tier cities in China [9] - Let Tea has launched its "Guava Oil Kumquat Jasmine Tea" across all channels, expanding its no-sugar fruit tea category [16] - The new product features a health-focused formula with zero sugar and calories, combining guava and kumquat flavors for a unique taste [16] - This launch is expected to enhance Let Tea's position as a leader in the no-sugar fruit tea segment and drive industry upgrades [16] - French fashion brand Etam has announced its complete withdrawal from the Chinese market, closing its online stores on platforms like Tmall and Xiaohongshu [17] - This marks the end of Etam's operations in China after over 30 years in the market [17] Personnel Dynamics - Nike has announced significant executive changes, including the elimination of the Chief Commercial Officer position and the departure of the Chief Technology Officer [21] - A new Chief Operating Officer has been appointed, with expanded responsibilities including leadership of the technology department [21] - These changes are part of Nike's strategy to drive growth and performance [21] - Valentino has appointed Davide Tosi as Chief Merchandising Officer to lead global product planning and pricing strategies [24] - Tosi's experience with brands like Gucci and Prada is expected to help Valentino address revenue declines [24] - Former public relations head of Shui Jing Fang, Hong Zonghua, has joined PepsiCo as Vice President of Corporate Affairs for the Asia-Pacific region [27] - Hong's extensive background in public relations and government relations in foreign consumer companies is seen as a valuable asset for PepsiCo [27] - Fendi has appointed Francesca Leoni as the new Global Chief Communications Officer, succeeding Cristiana Monfardini [30] - Leoni brings over 25 years of experience in the luxury goods sector, aiming to enhance Fendi's brand strategy and public relations efforts [30]

原本有望由汽车和奢侈品牌复苏主导的法国和德国企业利润全面回升，如今看起来正面临愈发严峻的风险。Bloomberg Intelligence汇编的统计数据显示，近期市场对今年以来屡创历史新高的法国CAC40指数和德国DAX指数明年的盈利预 期持续下调，而对欧洲其他区域性基准股票指数的盈利预期则在上调，这也解释了为何上半年屡创新高的法德基准股 指自10月以来持续回调，但是其他欧洲基准股指仍处于上行轨迹。 据了解，与医疗保健权重较高的瑞士SMI指数以及金融板块主导的西班牙IBEX指数相比，法国和德国的基准指数在成 分结构上，对非必需消费与工业板块的权重更高——这两个行业在明年恐怕难以完全兑现市场给出的高预期，而医疗 与金融这两大长期以来的股票市场价值板块近期表现非常强劲，且分析师对于瑞士和西班牙市场的预期持续上修，带 动瑞士与西班牙股市在11月大幅跑赢法德以及欧洲股市基准股指——斯托克600指数。 来自德意志银行的分析师Adam Cochrane表示："股价修复的速度以及投资者对新任CEO将带来的业绩大幅改善前景都 令人印象深刻，但也存在一种风险，即市场一致预期可能跑得过快。"他补充表示，预计在该公司明年公布中长期 ...

昨夜美国就业数据低于预期，美联储12月降息概率提升，欧美股市都小涨，今天亚太市场也是涨多跌 少，甚至港股尾盘也拉升，但是A股表现较差，虽然五大指数里红了三个，甚至双创涨幅都超过1%， 但盘面依然很弱。我统计了本周情况： 周一3400上涨，1900下跌；周二1500上涨，3700下跌；周三 1400上涨，3900下跌；周四是1400上涨，3900下跌，这整周四分之三都是跌多涨少，差不多和上上周走 势类似。 …… 这是简版按语，全文在下面的链接里 …… 好不容易上周缓和一下，本周又开启地狱模式，今天更为严重：一方面是大小分化厉害，沪深黄线领 跌，临近尾盘开口都还在放大，沪深300涨了0.34%，微盘股跌了1.7%，赚钱效应极差，反差让人不 适。另一方面，市场涨跌很不对称，领涨板块有两条主线，一个是太空算力和商业航天，另一个是人形 机器人，其实市场利好都还是比较突出的，但它们平均涨幅只有1.3%，领跌板块飞船密集，平均跌幅 超过3%。 …… 12月中旬有高层经济会议，今天有报道提到预期，中国日报引用 · 收盘来看，五大指数全天探底回升收盘涨跌不一。沪指下跌0.06%，深证成指涨0.40%，创业板指涨 1.01%，科 ...