Group 1 - e.l.f. Beauty announced the acquisition of Rhode, a beauty brand founded by Hailey Bieber, for $1 billion (approximately 71.88 billion RMB), marking e.l.f.'s largest acquisition to date [1][3] - The acquisition price consists of $800 million (approximately 57.5 billion RMB) in cash and stock, plus an additional $200 million (approximately 14.38 billion RMB) in potential earnouts [3] - The deal is expected to close in the second quarter of the fiscal year 2026, pending customary closing conditions [3] Group 2 - e.l.f. aims to diversify its brand portfolio in response to slowing sales growth and increased competition, as evidenced by a 4% year-over-year sales decline reported in its latest quarterly results [5][6] - Rhode's sales exceeded those of Rihanna's Fenty Beauty in 2023, with sales growth of $212 million (approximately 15.24 billion RMB) for the 12 months ending March 31, 2025 [12][15] - The acquisition reflects a strategic shift for e.l.f. towards the high-end beauty market to counteract weak demand in the mass cosmetics segment [8][29] Group 3 - Rhode, launched in June 2022, quickly gained popularity, selling out flagship products within days and achieving over $10 million in sales within 11 days of launch [12][15] - Hailey Bieber will continue as the brand's founder and take on additional roles, including creative director and product innovation lead [5] - The acquisition is part of a broader trend where major beauty companies are increasingly targeting influencer-led brands for their growth potential and consumer engagement [20][29]

出品 | 36氪未来消费（微信ID：lslb168） 离你更近的消费创投一线。 整理 | 王毓婵 头图 | IC photo Busy Money 中观普道（上海）企业发展有限公司完成5000万元天使轮融资 中观普道（上海）企业发展有限公司完成5000万元天使轮融资。据了解，该公司专注于智慧零售电 商平台，旗下拥有"惠拼购"等App。融资资金将主要用于技术研发和平台搭建，以增强市场竞争力。 惠拼购是一家土特产专供平台，该平台关注国家地理标志性农产品，并具有社交属性，为消费者提供 土特产商品。 奥本运动完成Pre-A轮数千万元融资 恋人时黛近日完成5000万元人民币天使轮融资。本轮融资国内知名投资方领投，资金将主要用于品 牌升级、市场推广及线上线下渠道拓展，以进一步巩固其在成人用品领域的创新优势与市场影响力。 恋人时黛是一家成人用品品牌提供商，主要融合生物传感技术与AI算法，为用户提供个性化健康管理 方案，并通过线下体验店与无人零售终端形势，从事成人用品销售业务。 RED CHAMBER朱栈完成近亿元A轮及A+轮融资 RED CHAMBER完成近亿元A轮及A+轮融资，A+轮由水羊股份领投，解百消费基金跟投。RE ...

2025年5月，RED CHAMBER朱栈完成近亿元A轮及A+轮融资，A+轮由水羊股份领投，解百消费基金跟投。水羊股份将凭借自身在产品研发、供应链管理以 及市场推广等方面的成熟经验，助力RED CHAMBER朱栈在产品创新与市场拓展上更进一步。解百消费基金则助力其在渠道建设、品牌推广等多层面的协 同进化。 作为中国多用膏赛道的开创者，近年来，品牌通过多用棒、多用膏、妆前面霜等"单品多效"创新产品，结合天然加成成膜技术，在Clean Girl、美拉德、清 透呼吸妆容等社交妆容潮流中展现出强劲穿透力。 在原料筛选的战场，RED CHAMBER朱栈始终坚守极致纯净的严苛标准。品牌组建专业的原料筛选团队，构建起覆盖全球的原料溯源体系，从源头把控每 一份原料的品质。在 RED CHAMBER朱栈的成分库中，所有成分均需通过多重严苛检测——不仅要符合国际通行的安全标准，更要通过品牌内部设立的高 于行业均值的纯净指标。无论是植物萃取物还是合成成分，一律杜绝添加任何已知对皮肤有害致敏源、酒精、香精、滑石粉等物质。 为保证配方纯净指数达到行业顶尖水平，品牌研发团队在成分选择上近乎 "偏执"。哪怕是对肌肤可能存在极微小的潜在风险 ...

中信证券：A股将继续呈现风偏回暖、主题轮动特征 展望5月，中信证券预计风险偏好还有回升空间，A股将继续呈现风偏回暖、主题轮动的特征，以低机构持仓 的主题型交易机会为主。但从经济层面来看，真实的影响已经悄然发生，中信证券预计中美经济在二季度尾声 可能会面临新的变数。 配置上，除了短期的热点主题轮动，中信证券依然建议聚焦三个不变的大趋势：一是中国自主科技能力的提升 趋势不会动摇；二是欧洲重建自主防务，提升能源、基建和资源储备的趋势不会动摇；三是中国势必要走 通"双循环"，加速完善社会保障并激发内需潜力是政策的必选项。 广发证券：景气投资回归 短期A股考虑三重因素：一是一些负面的一季报靴子落地；二是TMT反应度模型已经处于下限位置；三是国内 外大厂在大模型、算力芯片、端侧、AI应用的进展不断，5月—6月继续看好科技股的机会。 中期角度来说，回到三类资产对应的三个模型，在出现地产周期大反弹或科技应用大爆发之前，中长期对中性 股息组合保持关注。另外，考虑到国内科技大厂资本开支正在加大、产业链订单开始释放，景气成长组合以及 所代表的景气投资风格，当前大概率仍会占优；但由于报表业绩体现方面存在不确定性，各类上市公司的表观 ...

年内港股新消费的集体起飞，给消费基金经理上了生动一课！ 这种现象背后，有市场声音认为，消费市场正在抛弃中间地带，要么极致性价比穿透下沉市场，要么高端化构 建壁垒。 很多过去的消费叙事似乎正在被打破，"长坡厚雪"的消费板块的贝塔属性正在减弱，寻找阿尔法的能力成为消 费基金经理的投资胜负手。 "消费分化"而非"消费降级" "去年以前大家讲的是消费降级，但是今年大家突然发现，在港股很火的几家公司其实和消费降级是没关系 的。"近日，国泰消费优选基金经理李海在一场访谈中提到了自己目前对新的消费趋势的看法，在他看来，中 国消费市场足够大、足够广、足够复杂，每一个细分领域都有不同的需求，比如有的消费者会更追求性价比， 有的消费者则会更追求精神层面的需求，这些需要长期追踪和研究。 举例来看，港股上市的一家彩妆公司，许多单品价格比肩海外品牌，且在持续涨价，公司毛利率连续增长， 2024年毛利率超84%，远超同行，该公司年内股价已涨超80%。此外，港股上市的盲盒公司、古法黄金公司今 年以来股价涨幅明显，分别超110%和190%，公司商业逻辑和消费降级关系也并不大。 去年以来，很多人热议，现在的年轻人已经从原来消费奢侈品牌饰品开始 ...

Investment Rating - The report upgrades the investment rating to "Buy" for the company [1]. Core Insights - The company has shown strong performance with significant revenue growth driven by key products and brand strategies [6][5]. - The financial outlook remains positive with projected revenue and profit growth over the next few years [5][6]. - The company is focusing on optimizing its marketing strategies and enhancing product offerings to capture market share [6]. Financial Data and Profit Forecast - Total revenue for 2024 is projected at 2,970 million, with a year-on-year growth of 33.4% [5]. - The net profit attributable to the parent company for 2024 is expected to be 342 million, reflecting a growth of 31.7% [5]. - The gross margin for 2024 is forecasted at 73.7%, an increase of 3.01 percentage points compared to the previous year [6]. - The company anticipates a net profit of 438 million in 2025, with a year-on-year growth of 28.2% [5]. Revenue Breakdown - Revenue from eye care products reached 689 million, a year-on-year increase of 60.78% [6]. - Skincare products generated 1,125 million, growing by 21.60% year-on-year [6]. - The main brand, Marubi, achieved revenue of 2,055 million, up 31.69% year-on-year, while the sub-brand, Lianhuo, saw a 40.72% increase [6]. Marketing Strategy - The company is enhancing its marketing efforts around key products, participating in major online promotional events, and leveraging social media for brand engagement [6]. - The focus on big-ticket items and targeted marketing campaigns has resulted in significant brand visibility and consumer connection [6].