然而，这一转型却遭遇了消费者的强烈反弹。在中国市场，迪卡侬部分产品价格涨幅显著：登山裙从99.9元涨至129.9元，抓绒外套从249元升至499元，高 端公路自行车品牌VAN RYSEL的售价甚至突破万元。社交媒体上，"迪卡侬开始抛弃穷鬼了吗"的话题一度登上热搜，网友直呼"毫无性价比"。 一项微博投票显示，在4万参与者中，仅9千人坚定支持迪卡侬，理由多为"性价比"；而1.4万人认为其产品"无功无过"，另有6千人从未购买。这一结果暴 露出迪卡侬的尴尬：当它试图迎合高端市场时，原有的用户基础正在流失，而专业运动爱好者却尚未完全接受其新定位。 上个月，迪卡侬交出了一份尴尬的成绩单：销售额微增3.8%，净利润却大跌15%。这个以"平价亲民"著称的运动品牌，最近因为涨价被网友骂上了热搜。 从99元的登山裙涨到129元，249元的抓绒衣直接跳到499元，部分消费者直呼"买不起了"！ 高端化战略遇阻，消费者不买账？ 2022年起，迪卡侬在中国市场启动品牌焕新计划，试图撕下"性价比"标签，向"专业化"和"高端化"迈进。其策略包括更换品牌LOGO、调整产品结构、提 升价格，甚至从lululemon挖来中国区首席市场官张晓岩，试 ...

这是新消费智库第 2 6 3 3 期文章 新消费导读 1. 均瑶味动力推出 500 亿活菌型益生菌乳饮品 2. Athenos 和 Tajín 合作推出新的羊乳酪产品 3. 元气森林入选中国海外商标申请百强企业 4. 妙可蓝多金装奶酪棒全面焕新升级 5. HOKA 推出越野鞋 MAFATE SPEED 2 6. 金利来将港股退市 7. 3G 资本收购斯凯奇 8. 法国香水品牌 Adopt Parfums 获投 9. 派特鲜生宣布完成 2500 万美元天使轮融 资 10. 奥 地 利 运 动 品 牌 HEAD 母 公 司 拟 收 购 水 肺 鼻 祖 Aqualung 11. 潮牌 Merr yWannaBe 携手黄子弘凡发布联名系列 12. adidas 阿迪达斯官宣品牌全线代言人李现 13. CLOT 携手麦当劳中国推出 McSpicy Al ienegra 系列 14. Outopia 遨托邦 x 中国火箭联名系列发售 15. F orever 21 关闭美国全部 354 家门店 新消费 1. 均瑶 味动力推出 5 00 亿活菌型益生菌乳饮品 近日，均瑶味动力推出 500 亿活菌型益生菌乳饮品。新品选用 J ...

业绩增收不增利、业绩垫底国产四大运动品牌 门店、经销商均净减少 2024年，在国产四大品牌中，361度、安踏体育、特步国际均实现营收、归母净利润双增，仅李宁一家增收不增 利，且营收增幅极其微弱。 炒股就看金麒麟分析师研报，权威，专业，及时，全面，助您挖掘潜力主题机会！ 出品：新浪财经上市公司研究院 作者：新消费主张/cici 截至2025年4月30日，绝大多数服饰服装上市公司已完成2024年度财报的披露，对此我们挑选了25家具有代表性 的上市公司进行业绩比对分析。在我们所选25家上市公司中，仅有7家实现了营收、归母净利润双增，5家增收不 增利、3家公司不增收增利。其中，5家增收不增利的上市公司，就包括行业龙头李宁。 在国产四大运动品牌，即安踏体育、李宁、特步国际、361度中，李宁的业绩表现垫底。2024年，李宁共实现营 收286.76亿元，同比微增3.9%；共实现归母净利润30.13亿元，同比下降5.5%，营收微增、归母净利润下降，除 李宁外其他三家均实现了业绩双增。 除了业绩增收不增利之外，李宁的库存状况似乎也难容乐观，2024年上半年公司存货规模及存货占总资产的比例 同步增长。 李宁存货规模增长至26亿 ...

高毅资产管理产品持有人请关注并注册"高毅资产客户服务"，查询持有资产、产品净值，获取更多产品资讯。 3月，高毅资产合伙人、首席研究官卓利伟在高毅资产投资报告会上，发表了题为《消费行业的结构性分析》的主题演讲。 卓利伟通过宏观框架和微观案例的分享，深度复盘了消费行业过去几年的变化与创新，并分享了未来消费行业的投资逻辑变化。他认为，经过过 去几年持续的积累与创新，中国消费行业已发生很多重要的新变化， 中国将是消费规模与生产规模并重的独特经济体。 需求分层、技术迭代、 产品创新、国产品牌崛起、情绪价值需求显著提升、供应链深度整合与渠道重构，正在形成消费者需求变化、产品创新与管理创新的持续演化。 卓利伟指出，这其中有很多投资机会，但投资者要跳出"升级"还是"降级"的二元叙事，在"分级"中捕捉结构替代与产品创新，这个过程中已有部 分最优秀的企业正在构建持续进阶的系统能力。 预计阅读时间：12分钟 数据来源:世 界银行 中国是高储蓄国家，过去5年居民储蓄存款从90多万亿上升到近160万亿（尽管有分布不均的问题），在过去几年经济相对不景气的环境中， 居民家庭整体的资产负债结构与现金流状况得以显著改善，这与上个世纪九十年代的 ...

Group 1 - Skechers announced its acquisition by Brazilian private equity firm 3G Capital for $63 per share, representing a 30% premium over the average stock price over the last 15 trading days [1] - Following the acquisition, Skechers will become a private company and continue to be led by its current executive team [1] - The acquisition is seen as a strategic opportunity for Skechers to transform into a global lifestyle and functional footwear brand, with a focus on international market expansion and direct-to-consumer (DTC) business growth [2] Group 2 - Skechers has been undergoing a multi-dimensional strategic transformation, including restructuring traditional business models and exploring new markets, with a focus on globalization, digital capabilities, and product innovation [2] - In the Chinese market, Skechers is increasing its e-commerce presence through collaborations with platforms like Douyin and Xiaohongshu, and plans to invest significantly in logistics and retail infrastructure [3] - The company aims to return to its "comfort roots" by enhancing its brand and store image, focusing on family-oriented themes in its marketing strategy [3]

Group 1: Beijing SKP Share Sale - Beijing SKP is set to sell a stake to the Boyu Capital's fifth USD fund, which will acquire 42% to 45% of the shares through its affiliates [1] - The transaction amount has not been disclosed, but it reflects capital's recognition of high-end retail's resilience amid economic challenges [1] - SKP has been a leader in high-end retail, but faces challenges from luxury market growth bottlenecks and competition from new projects [1] Group 2: Skechers Acquisition by 3G Capital - Skechers has agreed to be acquired by 3G Capital for $63 per share, a 30% premium over its 15-day volume-weighted average price [2] - The transaction is expected to close in the third quarter of this year, after which Skechers will become a private company [2] - This acquisition represents a strategic move for Skechers to restructure and adapt, with a focus on supply chain, market expansion in China, and brand rejuvenation [2] Group 3: New Tea Beverage Sales During May Day Holiday - New tea beverage brands experienced significant sales growth during the May Day holiday, with Tea Baidao reporting a 50% increase in overall sales and some stores seeing sales up by 3000% [3] - Nayuki's Tea also reported a surge in orders, with some locations experiencing over 300% increase compared to pre-holiday levels [3] - The new tea beverage sector has become a popular choice among young consumers, but the industry must continue to innovate and operate efficiently as the flow of consumer traffic diminishes [3] Group 4: May Day Film Box Office Performance - The total box office for the May Day film season was 747 million yuan, less than half of last year's figures, marking the lowest daily average box office in nearly a decade [4] - The number of moviegoers decreased by 44%, and there was low pre-release interest in new films [4] - Changes in consumer logic and audience demands are impacting cinema consumption, with higher expectations for production quality, emotional resonance, and content innovation [4]

Core Viewpoint - The rise of the "light outdoor" lifestyle has become a new trend among young people for weekend leisure and travel, leading to increased interest in outdoor activities and related apparel [2][4]. Group 1: "Light Outdoor" Lifestyle - "Light outdoor" refers to lightweight outdoor activities such as cycling, hiking, and camping, characterized by a connection to nature, minimal equipment, and social engagement [2]. - Nearly 90% of outdoor enthusiasts reported participating in outdoor activities monthly, with the majority engaging in 3 to 6 hours of exercise weekly, indicating that outdoor activities have become a standard part of many people's lives [2][3]. Group 2: Consumer Behavior and Trends - The popularity of outdoor activities has led to a significant increase in related searches, with "hiking" search volume up nearly 100% and "hiking day trips" and "mountain hiking" keywords increasing over 400% in the first four months of the year [3]. - Outdoor apparel has become a fashionable choice for consumers seeking a healthy lifestyle and personal expression, contributing to a growing market for sportswear [4]. Group 3: Sales and Market Growth - During the 2025 China Leisure Sports Carnival, outdoor sportswear sales were robust, with some booths selling over 200 items daily, priced between 300 to 400 yuan [5]. - The outdoor footwear and apparel category saw a nearly 50% increase in transaction value from January to April this year, with outdoor enthusiasts spending an average of 2,000 to 5,000 yuan annually [6].

摩根大通将耐克目标价从64美元下调至56美元。 ...

整理 ｜ 贺哲 馨 #Big News# 第三季度雅诗兰黛中国实现增长，新任CEO积极拓展新渠道 新任CEO上任之后，雅诗兰黛中国的业绩有复苏迹象。 美东时间5月1日，雅诗兰黛公布第三季报，显示净销售额同比下降10%至35.5亿美元，在有机基础上同比下降 9%，表现略好于预期，毛利率增长3.1%，主要得益于集团"利润恢复与增长计划"（Profit Recovery and Growth Plan，简称PRGP）带来的正面影响。 在集团发给36氪的通告中特别提到，该季度雅诗兰黛集团中国大陆业务实现中个位数增长，主要由 La Mer（海 蓝之谜）、Estée Lauder（雅诗兰黛）和 Tom Ford驱动。 至此，中国大陆业务在过去四个季度中有三个季度 都实现了份额的增长。 不过，由于"战略性减少对代购渠道的依赖"等因素，雅诗兰黛全球护肤业务和旅游零售都出现了双位数下滑， 其中护肤业务净销售额下降了11%。彩妆品类也表现不佳，原因是M·A·C（魅可）由于新产品发布的发货时间 及发货量较去年同期不利，抵消了2025财年新品的积极影响。 香水部门出现了1%的下滑，但仍是集团表现最好的。 特别是最近几年发展迅速的奢侈 ...

相较于耐克、阿迪达斯等运动巨头在主导领域所积累的技术优势和广泛的品牌影响力，又或者跟细分领 域攒下好口碑的萨洛蒙等专业户外品牌相比，始祖鸟入局鞋履的差异化优势目前并不明显。 近日，户外品牌ARC'TERYX始祖鸟宣布成立独立的鞋履业务部门。始祖鸟此举是为了巩固鞋类产品并 加强零售分销，成为登山鞋领域的全球领导品牌。 此外，始祖鸟还有计划扩大单品门店数量，而完善的产品组合将有助于提升单店盈利能力。截至目前， 始祖鸟在全球开设有160家门店。 作为高端户外品牌的代表之一，始祖鸟向来以高品质的服装和背包而出圈，此番进军鞋履赛道，无疑是 品牌拓展的重要一步。但鞋履市场竞争激烈，去年3月才推出首款自研鞋的始祖鸟，能成功突围吗？ 业务负责人曾在耐克、安德玛工作 据悉，始祖鸟鞋履业务部门由Renée Augustine领导。该部门将继续在美国俄勒冈州的波特兰运营，并将 在产品创造、品牌营销和商业职能方面投入专门资源。 此前，Renée Augustine曾在Under Armour担任企业战略高级总监，负责领导全球消费者战略。在那之 前，她在耐克工作了十多年，担任过增长主管和业务发展总监等职务，为全球品类战略和财务规划做出 ...