智通财经APP获悉，在汇丰控股因看好中国消费复苏带来的潜力而上调了奢侈品行业巨头LVMH集团和 开云集团的评级后，欧洲奢侈品股周二走高。数据显示，LVMH集团股价一度上涨4%，开云集团股价 一度上涨近5%。高盛一篮子奢侈品股一度上涨2.4%，尽管仍较2月的历史高点低逾20%。 汇丰对LVMH集团和开云集团的乐观情绪也带动了其他竞争对手的股价上涨，包括瑞士钟表巨头斯沃琪 集团(Swatch Group AG)、意大利羊绒品牌Brunello Cucinelli SpA以及瑞士奢侈品公司历峰(Richemont)。 不过，爱马仕(Hermes International SCA)股价则未能受益，该股股价汇丰将其评级从"买入"下调至"持 有"后一度下跌1.2%。分析师认为，这家铂金包制造商今年剩余时间内的销售增长不会加速，尽管他们 仍然将爱马仕视为"比我们覆盖范围内其他公司好得多的企业"。 对于LVMH集团，汇丰分析师认为，该公司有机会简化成本结构、并实现更高的长期利润率。他们还预 计，在新任首席执行官Luca de Meo的领导下，开云集团的股价相关风险将有所减轻。 由Erwan Rambourg带领的汇丰分析师 ...

Group 1 - Hermes has opened its first direct-operated store in a domestic airport at Shenzhen Airport T3 terminal, marking a significant step in the airport's international brand strategy [1][3] - The store features a full range of products and is designed to reflect the coastal characteristics of Shenzhen, providing travelers with an immersive experience akin to visiting an art exhibition [3] - The choice of Shenzhen Airport for the store location is based on insights into the high-quality passenger flow, with an increasing proportion of high-end business and tourism travelers [3] Group 2 - Shenzhen Airport aims to establish itself as a world-class commercial hub by attracting international leading brands and leveraging local advantages, with recent entries including Louis Vuitton, Dior, and Hermes [3] - The airport is developing a multi-layered consumption matrix centered around international brand flagship stores, local tech brands, and duty-free products [3] - Future plans include continuing to set new benchmarks for airport consumption [3]

中国民航网讯：9月1日，爱马仕国内机场首家直营店在深圳机场T3航站楼国内出发候机厅商业核心区 正式开业。作为国际顶级奢侈品品牌，爱马仕的入驻是深圳机场深耕航站楼国际化品牌矩阵的重大成 果，彰显了机场的国际航空枢纽地位与高端消费潜力，也体现了深圳持续优化国际化营商环境，激活消 费市场的坚定决心。 爱马仕深圳机场店是一个全品类门店，外立面结合深圳海滨城市特点，采用靛青色的主色调，陶瓷砖纹 路与海水波纹及T3航站楼天花形状相呼应，为旅客营造"在机场逛艺术展"的沉浸式体验。 据了解，爱马仕首家国内机场直营店之所以选址深圳机场，是基于对深圳机场高端客流质量的洞察。作 为国际航空枢纽，近年来，深圳机场旅客流量持续攀升，高端商务、旅游客群占比提高。深圳机场联合 各航司打造的"深快线"在今年上半年成功扩容至17条，日均有超700架次往返深圳与北京、上海、杭 州、重庆、成都等国内主要城市，吸引了越来越多公商务人士从深圳机场出行，带动了航站楼商圈高端 消费群体的量级增长。 与此同时，深圳机场立足"国际枢纽、深圳气质"的商业定位，以打造"航空枢纽型世界级商圈"为目标， 积极推动国际头部品牌以及深圳优势本土品牌入驻。今年以来，路易威 ...

据Lanvin Group（复朗集团）2025年上半年财报显示，营收同比下降22%至1.33亿欧元，毛利为7200万 欧元，调整后EBITDA（息税折旧摊销前）亏损扩大至5200万欧元，所有品牌大中华市场销售额均以两 位数下滑。 期内，Lanvin品牌营收同比下降42%至2793万欧元，于EMEA市场营收同比下滑47.2%至1222万欧元； 北美市场营收同比下滑28.2%至861万欧元；大中华市场销售额同比下滑60.3%至378万欧元；其它市场 销售额同比下滑7.9%至332万欧元。 （Lanvin Group财报） Wolford上半年营收同比下降23%至3299万欧元，于EMEA 市场营收同比下滑19.9%至2118万欧元；北美 市场营收同比下滑31.3%至876万欧元；大中华市场销售额同比下滑13.6%至283万欧元；其它市场销售 额同比增长83.3%至22万欧元。 ...

Core Insights - A recent report analyzing e-commerce marketing practices for the Qixi Festival in 2025 has gained significant attention, detailing the marketing strategies and outcomes of representative brands across five sectors: luxury goods, beauty, fast-moving consumer goods (FMCG), food and beverage, and platforms [1][6]. Luxury Goods - Major luxury brands launched distinctive marketing campaigns during the Qixi Festival. Chopard collaborated with Pop Mart's DIMOO WORLD to create a limited edition set, which generated interaction on Xiaohongshu but faced criticism for unclear target audience and forced brand-IP integration [1][8]. - LOEWE utilized a micro-drama titled "The Love of Magpies" to penetrate target demographics through Weibo and Xiaohongshu, although the "earthy" elements in the drama impacted the brand's high-end image [1][6]. - Tiffany's radio campaign "I Am the Subject of Love" effectively conveyed brand philosophy through collaborations with top podcasters and celebrities, achieving success on Xiaohongshu [1][6]. Beauty Industry - The beauty sector also showcased innovative marketing. Chando returned to its Himalayan roots, combining traditional craftsmanship with advertising and engaging in offline activities, primarily using Douyin for diverse content dissemination [3][6]. - SK-II partnered with Mayday to release a film and special gift boxes, focusing on themes of sentiment, love, and daily life, which garnered widespread attention on Xiaohongshu and Douyin [3][6]. Fast-Moving Consumer Goods (FMCG) - In the FMCG sector, Yili targeted the elderly demographic with the campaign "100 Reasons for Twilight Love," which resonated with children of elderly consumers on Douyin, though some felt the message was disconnected from reality [3][6]. Food and Beverage - The beverage brand Bawang Chaji launched a Qixi limited series called "Phoenix Flying," integrating traditional She ethnic marriage customs and promoting it on both Douyin and Xiaohongshu [3][6]. Platforms - Taobao Flash Sale collaborated with Lin Yi to create an advertising campaign and thematic project, enhancing online and offline engagement, particularly through the "1314 Pain Car" initiative in Hangzhou, which sparked user enthusiasm for check-ins, with Xiaohongshu as the primary platform for dissemination [5][6]. Data Insights - The report includes detailed data analysis and case studies, highlighting marketing successes and challenges faced by brands during the Qixi Festival, making it a valuable resource for e-commerce professionals [6].

Core Insights - The report by Yien analyzes the marketing strategies and effectiveness of leading brands across five industries during the Qixi Festival, highlighting new marketing trends and consumer demand changes [1][5][9] Luxury Goods - Chopard collaborated with DIMOO WORLD to launch a limited edition gift box, gaining attention on Xiaohongshu, but the integration was seen as forced and the target demographic unclear [1][5] - LOEWE created a micro-drama titled "The Love of Magpies," featuring celebrities and effectively expanded brand influence through joint promotions on Weibo and Xiaohongshu, although the "tacky" style raised concerns about brand image [1][5] - Tiffany's series "I Am the Subject of Love" explored individual value in love, collaborating with top podcasters and effectively conveying brand philosophy on Xiaohongshu [1] Beauty Industry - Chando returned to the Himalayas theme, partnering with intangible cultural heritage "Shuo Zhi Bang Dian" for an advertisement that established emotional connections with consumers through pre-launch activities and offline interactions on Douyin [2] - SK-II collaborated with Mayday to release a campaign titled "Loveing, Crystaling," featuring limited edition gift boxes and pop-up stores, successfully engaging users through emotional themes on Xiaohongshu and Douyin [2] Fast-Moving Consumer Goods (FMCG) - Yili focused on the elderly demographic, partnering with host Meng Fei for the "100 Reasons for Twilight Love" project, which resonated with children of elderly consumers on Douyin, though some felt the project's claims were unrealistic [4] - Bawang Tea Ji launched a limited edition series "Phoenix Flying," showcasing traditional wedding customs in collaboration with the She ethnic group, promoting it on Douyin and Xiaohongshu [4] E-commerce Platforms - Taobao Flash Sale collaborated with actor Lin Yi to launch an advertisement and the "City in Love" theme project, successfully driving user engagement through online and offline interactions, primarily using Xiaohongshu for promotion [4] Marketing Highlights and Challenges - The report highlights the innovative efforts and challenges faced by brands, such as Chopard's young demographic attempt with DIMOO WORLD, LOEWE's successful yet image-damaging micro-drama, and Yili's resonant project that diverged from reality [5]

每经编辑｜陈柯名 图源：巴黎世家官网 官网介绍称，该包亮相于Balenciaga 2025冬季系列Look 25，长、高、宽分别为50厘米、52.8厘米、1厘米，Dyneema面料，正面饰以Balenciaga标识印花， 售价8200元人民币。值得注意的是，这款新包长得和塑料袋几乎一模一样，连折痕都相似。 截至发稿，这款新包在官网和官方小程序都显示为缺货状态。 据九派新闻，9月1日，巴黎世家客服热线的工作人员表示这款托特包是新品，目前可能是还没有到货的状态。 客服表示，这款新品的设计灵感来源于周边日常使用的事物，但实际并不会采用塑料袋的材质，而是采用织物为材料。 近日，巴黎世家官网上线了一款可折叠托特包。 今年以来，巴黎世家还因推出多款有争议的产品，而频频登上热搜引发热议。 6月份，巴黎世家一款"北京烤鸭"包袋，引发网友吐槽。Balenciaga北京三里屯太古里旗舰店店员称，该包外层为牛皮皮质，采用的是意大利顶级皮质，专 柜售价15500元。 据巴黎世家官网微博介绍，2025年5月27日，Balenciaga北京三里屯太古里旗舰店盛大开幕，为配合上述旗舰店开业，品牌特别发布一系列限定版单品。巴 黎世家官网未有 ...

Core Insights - The report by Yien analyzes marketing strategies and effectiveness of leading brands across five industries during the Qixi Festival, highlighting the latest consumer demand trends [1][10]. Luxury Goods Industry - Chopard collaborated with DIMOO WORLD to launch a limited edition gift box, primarily promoted on Xiaohongshu, attracting young consumers but facing criticism for the awkward integration of the brand and IP [1][11]. - LOEWE utilized a micro-short drama format featuring celebrities to creatively merge Qixi legends with brand imagery, successfully reaching a broader audience, although the "rustic" style impacted its premium brand image [1][6]. - Tiffany's campaign focused on individual subjectivity in love through a series of content, leveraging partnerships with top podcasters and influencers to deeply convey brand philosophy on Xiaohongshu [1]. Beauty Industry - Chando returned to its Himalayan roots by collaborating with intangible cultural heritage to launch an advertisement on Douyin, fostering deep connections with consumers through pre-launch membership and offline events [2]. - SK-II partnered with Mayday to release a campaign titled "Love-ing, Crystal-ing," featuring limited edition gift boxes and pop-up stores, primarily utilizing Xiaohongshu and Douyin for emotional engagement [2]. Fast-Moving Consumer Goods (FMCG) Industry - Yili focused on the elderly demographic by collaborating with Meng Fei on a project that resonated with the children of this group on Douyin, although some audiences felt the message was disconnected from reality [4]. Food and Beverage Industry - Bawang Chaji launched a limited edition series for Qixi, showcasing traditional wedding customs in collaboration with the She ethnic group, effectively promoting the campaign on both Douyin and Xiaohongshu [4]. Platform Industry - Taobao Flash Sale partnered with Lin Yi to create an advertising campaign and "Citywide Love" theme project, utilizing Xiaohongshu for online and offline engagement, which sparked user enthusiasm for participation [4]. Marketing Highlights and Challenges - The report identifies key marketing highlights and challenges, such as Chopard's youthful yet awkward collaboration, LOEWE's successful yet image-impacting short drama, and Yili's resonant but unrealistic messaging [6]. - These cases illustrate the innovative attempts by brands in Qixi marketing while reflecting the diverse and complex consumer demands in the current market environment [6].

研究报告 Research Report 可选消费 W35 周度趋势解析：全球奢侈品板块触底反弹，A/H 业绩落地主导各子行业表现 Week 35 Discretionary Trends: Global Luxury Sector Bottoms Out and Rebounds, A/H Results Drive Sub-sector Performance [Table_yemei1] 观点聚焦 Investment Focus | 股票名称 | 评级 | 股票名称 | 评级 | | --- | --- | --- | --- | | 耐克 | Outperform 石头科技 | | Outperform | | 美的集团 | Outperform 科沃斯 | | Outperform | | 京东集团 | Outperform 永辉超市 | | Outperform | | 海尔智家 | Outperform 波司登 | | Outperform | | 安踏体育 | Outperform 李宁 | | Outperform | | 格力电器 | Outperform 苏泊尔 | | Outperf ...

Core Insights - The report titled "E-commerce Operations: Review of Qixi Marketing 2025" focuses on the marketing practices of representative brands in five major industries: luxury goods, beauty, fast-moving consumer goods (FMCG), food and beverage, and platforms, analyzing their strategies, channel performance, and consumer feedback [1][4][5] Luxury Goods Industry - Chopard collaborated with Pop Mart to launch a limited edition set for Qixi, primarily using Xiaohongshu as the main advertising channel, but faced issues with brand and IP integration and unclear target audience [1][12] - LOEWE partnered with actors Chen Duling and Chen Zheyuan to create a micro-drama titled "Que Ding Ai," leveraging cultural symbolism and social media for targeted audience penetration, although the "earthy" impression of the short drama impacted the brand's high-end image [1][22][27] - Tiffany released a radio series "I Am the Subject of Love," collaborating with top podcasters to explore individual subjectivity in love, with Xiaohongshu as the core communication channel [1][29][32] Beauty Industry - Natural Hall returned to its roots in the Himalayas, launching an advertisement titled "Meet the Rainbow, Natural Good Luck," and initiated the "吸好运" campaign, primarily using Douyin for diverse content dissemination [1][36] - SK-II collaborated with Mayday to release a short film "Loveing, Crystal Joying," featuring a bouquet gift box and offline pop-up stores, focusing on Xiaohongshu and Douyin for marketing [1][34] Fast-Moving Consumer Goods (FMCG) Industry - Yili focused on the elderly demographic, collaborating with Meng Fei to launch the "100 Reasons for Twilight Love" campaign, which resonated with children of elderly consumers on Douyin [1][34] Food and Beverage Industry - Bawang Chaji introduced a limited edition series "Phoenix Flying" for Qixi, collaborating with the She ethnic group to showcase traditional marriage customs, with balanced advertising on Douyin and Xiaohongshu [1][34] Platform Industry - Taobao Flash Sale partnered with Lin Yi to create an advertisement and a themed campaign "Citywide Love," integrating online and offline efforts, with Xiaohongshu as the primary platform [1][34]