Core Points - The European Commission has imposed a total fine exceeding €157 million on Gucci, Chloé, and Loewe for anti-competitive pricing practices [1][3] - The companies engaged in resale price maintenance (RPM), restricting the ability of their independent retailers to set their own retail prices [2][5] Company Summaries - Gucci, based in Italy, was fined €119.67 million after a 50% reduction for cooperation [6] - Chloé, headquartered in France, received a fine of €19.69 million after a 15% reduction for cooperation [6] - Loewe, located in Spain, was fined €18.01 million after a 50% reduction for cooperation [6] Regulatory Context - The infringement behavior by these companies was found to cover the entire European Economic Area (EEA) [2][5] - The European Commission's investigation began with surprise inspections in April 2023, leading to formal proceedings in July 2024 [5] - The decision emphasizes the importance of fair competition and consumer protection across all sectors in Europe [6]

Core Insights - LVMH's sales increased by 1% in Q3, marking the first quarter of growth this year, driven by improved demand in China [1][5] - The luxury goods sector is experiencing a prolonged slump, but LVMH's performance offers some relief [1][7] Sales Performance - LVMH reported quarterly sales of 18.28 billion euros ($21.17 billion), surpassing expectations of flat sales [5] - The fashion and leather goods division, which includes brands like Louis Vuitton and Dior, saw a 2% decline compared to the previous year, but this was an improvement from a 9% drop in Q2 [4][6] Regional Trends - Notable improvement in sales trends was observed in Asia, particularly in mainland China, which turned positive in Q3 [2] - The CFO indicated that the luxury market in Asia, excluding Japan, showed "noticeable" improvement [2] Market Challenges - LVMH faces challenges in Q4, including unfavorable currency rates and ongoing economic uncertainty [2] - The luxury sector has been impacted by price hikes and economic factors such as tariffs and the real estate crisis in China [7][8] Investor Sentiment - LVMH's U.S. shares rose by 7.5% following the positive trading update, indicating a shift in investor sentiment towards the luxury sector [4]

Core Insights - The 2025 Nobel Prize in Economic Sciences was awarded to Philippe Aghion, Joel Mokyr, and Peter Howitt for their contributions to understanding innovation-driven economic growth [4][28] - Aghion emphasized the negative impact of tariffs on economic growth, stating that trade barriers hinder market fluidity and innovation [10][12] - The trio's research highlights the importance of maintaining mechanisms that support creative destruction to avoid economic stagnation [28] Group 1: Contributions of Nobel Laureates - Philippe Aghion aims to use his prize money to further research on the impact of AI and innovation on economic growth [2] - Joel Mokyr's work focuses on the historical roots of economic growth, analyzing the interplay between technological progress and industrial revolutions [19][20] - Peter Howitt, along with Aghion, developed a theoretical model that incorporates the concept of creative destruction into endogenous growth theory [16][26] Group 2: Economic Policies and Innovation - Aghion warned against government policies that suppress innovation, advocating for a unified European market to enhance technological advancement [12][13] - Mokyr criticized the Trump administration's research policies, labeling them as detrimental to the U.S.'s leadership in science and education [26][27] - The laureates collectively argue that innovation is essential for addressing global challenges such as climate change and aging populations, requiring supportive government policies [27]

Core Viewpoint - The article discusses the ongoing acquisition interest in the Italian luxury sneaker brand Golden Goose, highlighting its significant market presence and the broader trend of consumer mergers and acquisitions in the global market [3][16]. Company Overview - Golden Goose, founded in 2000, is known for its iconic "dirty shoes" which have a vintage look and a distinctive incomplete star logo, with prices starting at 4,000 yuan [3][4]. - The brand gained popularity after introducing the "Super-Star" sneaker in 2007, which featured a "lived-in" style, contrasting sharply with the luxury market's focus on perfection [6][8]. Financial Performance - As of the first half of 2025, Golden Goose reported a net revenue of 342.1 million euros, reflecting a 13% year-on-year growth [10]. - The brand's revenue reached 48 million euros in 2014, with a 60% increase from the previous year, and half of its income coming from international markets [8][9]. Ownership Changes - Golden Goose has undergone several ownership changes, initially acquired by DGPA SGR SpA in 2013 for 45 million euros, which facilitated its global expansion [12]. - In 2017, the Carlyle Group acquired 100% of Golden Goose for approximately 400 million euros, leading to a doubling of revenue within two years [13]. - The brand was later sold to European private equity firm Permira in 2020 for about 1.3 billion euros, with Carlyle retaining a minority stake [14]. IPO Attempts - Golden Goose aimed for an IPO in 2023, but faced delays due to a downturn in European luxury stock valuations [15]. - In February 2025, the brand secured a strategic investment from Blue Pool Capital, owned by Cai Chongxin, which acquired approximately 12% of the company [15]. Market Trends - The article notes a significant trend of consumer mergers and acquisitions, with various high-profile deals occurring in the market, indicating a robust interest in consumer brands despite economic fluctuations [17][19]. - The consumer sector is viewed as resilient and attractive to capital, especially during economic downturns, leading to increased acquisition activity [19][20].

当前，中韩签证便利政策相继落地，双向旅游热潮不断升温。中韩两国人民期待继续增进友好往来，携 手前行，共享发展机遇，共创美好未来。 《 人民日报 》（ 2025年10月14日 08 版） (责编：赵欣悦、袁勃) 本报首尔10月13日电 （环球时报记者刘洋、曹思琦、林小艺）10月13日，在韩国首尔举行的2025中韩 媒体合作论坛上，环球时报社发布《中韩交流互鉴成果》短视频，以影像回顾论坛系列活动丰硕成果， 展现两国人文交流与合作持续深化。 作为论坛配套活动，《环球时报》与韩国《每日经济新闻》近日开展联合采访，以媒体视角生动呈现中 韩企业在机器人、时尚及旅游产业等领域的合作新图景。 与此同时，环球时报社于9月15日至19日组织开展"中韩网红交流互鉴"活动，邀请韩国网红来华访问， 走访太原、汾阳、榆林和重庆等地，深度体验中国文化魅力，沉浸式感受中国式现代化的生动实践，收 获网友广泛关注与积极评价。 ...

Group 1: Fashion Industry Highlights - Paris Fashion Week concluded with several creative directors making their debut, showcasing a mix of innovation and tradition, with brands like Louis Vuitton and Miu Miu standing out for their fresh approaches [3][4] - The financial performance of brands varied, with MUJI's parent company reporting a record revenue increase of 6% for the fiscal year, driven by new store openings and stable sales [4] - Loewe's revenue for the fiscal year 2024 grew by 9.2% to €88.52 million, but net profit fell by 24% to €15.7 million, indicating challenges in the Asian market despite strong growth in Europe and the Americas [11][12] Group 2: Corporate Developments - Fast Retailing, the parent company of Uniqlo, reported a 9.6% increase in total revenue for the fiscal year 2025, reaching ¥3.4 trillion, with strong performances in both domestic and international markets [7] - Tapestry's Asia-Pacific CEO Yann Bozec announced his departure to start a consulting platform, marking a significant leadership change for the Coach brand [8] - Hermès announced a change in its investor relations leadership, with Carole Dupont-Pietri stepping down after 11 years [9] Group 3: Product Innovations and Marketing Strategies - Ferrari unveiled its first electric sports car, marking a significant milestone in its diversification strategy, which now includes various powertrain technologies [5][6] - Louis Vuitton is set to release a new brand book titled "From Louis to Vuitton," which chronicles the brand's history and development since its founding in 1854 [10] - Marriott International launched a new digital platform, Marriott Bonvoy Outdoors, aimed at enhancing outdoor accommodation and experiences for travelers [14][15]

2025年10月4日，由Bonjour Brand中法品牌美学中心主办，四川唯怡饮料食品有限公司作为首席合作伙 伴联合呈现的时尚艺术项目Bonjour Echoes在巴黎布隆尼亚宫盛大启幕。作为巴黎时装周Welcome to Paris的官方EVENT活动，Bonjour Echoes继2024年后再次以集体形式将中国原创设计力量带入国际顶级 时尚舞台。三大核心走秀品牌GRACE CHEN、SHUXUAN G.、HENGDI WANG登场，向世界展示来自 东方的美学创造。 本次活动得到了WDCC世界设计之都大会、上海高级定制周与时尚集团的大力支持，Bilibili 则作为官 方直播平台，为线上观众提供沉浸式观看体验。 SHUXUAN G.创立于2018年，以"空"的东方哲学为灵感，将高级定制转化为"可穿戴的哲学"。品牌在延 续传统工艺的同时，融入3D打印、生物材料与数字化设计，探索艺术、技术与人文的边界。 HENGDI WANG诞生于伦敦与上海之间，将东方神话与古典意象融入实验性工艺，结合3D打印织物与 重构刺绣，塑造兼具无性别与未来感的独特表达。 三位设计师的作品，共同构成了一幅关于当代中国时尚的多维图景： ...

Core Insights - The overlap of the National Day and Mid-Autumn Festival holiday with the optimal viewing period of the Qiantang River tidal bore has significantly boosted tourism in Haining, Zhejiang [3] - Haining's A-level tourist attractions and 3A-level scenic villages received over 1.95 million visitors during the recent holiday, marking a year-on-year increase of 96.2% [3] - The tidal bore phenomenon has also stimulated local consumption, particularly in the China Leather City market, where many consumers visited after watching the tide [3] Industry Trends - To better convert tourist traffic into local spending, Haining's fashion industry is shifting towards a "small batch quick response" model, reducing the time from design to market launch to just two months, which is over 50% faster than traditional methods [5]

Group 1 - The recent National Day and Mid-Autumn Festival holiday coincided with the best viewing period for the Qiantang River tide, leading to a surge in tourism and consumption in Haining, Zhejiang [1][5] - During the holiday, Haining received over 1.95 million visitors, marking a year-on-year increase of 96.2% [5] - The influx of tourists has significantly boosted local consumption, particularly in the Haining China Leather City, where many consumers visited for shopping after viewing the tide [8] Group 2 - To better convert tourist traffic into local consumption, Haining's fashion industry is shifting towards a "small batch, quick response" model, reducing the time from design to market launch to just two months, which is over 50% faster than traditional methods [10] - The introduction of "AI designers" has further accelerated the process, enabling the creation of a new design in just half an hour [10] - During the holiday, Haining China Leather City saw a foot traffic of nearly 420,000 visitors, with sales of fashion items such as leather jackets and bags exceeding 100 million yuan [11]

Core Viewpoint - The introduction of Extended Producer Responsibility (EPR) for textiles is expected to fundamentally transform the textile and fashion industry in the coming years, with a focus on sustainability and responsibility among manufacturers [1][3]. Group 1: Central Demands for Future Model - The associations have outlined six central demands for a future model that aligns with the EU Waste Framework Directive, emphasizing ecological effectiveness, resource conservation, and practical take-back structures by 2028 [3]. - Manufacturers will be responsible for the costs associated with the collection, sorting, and recycling of textiles placed on the market in the EU, along with providing accurate data on the quantities of textiles they introduce [4]. Group 2: Implementation and Legislative Focus - The implementation of EPR in Germany should occur in close collaboration with the industry, with legislators focusing on establishing minimum requirements [5]. - Consistent market surveillance is deemed essential, particularly concerning third countries, and sanction mechanisms should also apply to foreign retailers and online marketplaces to ensure a level playing field [5]. Group 3: Additional Requirements - The associations advocate for collection quotas, ecological product requirements, and a Europe-wide uniform ecomodulation that minimizes bureaucracy [6]. - There is a call for fair financing distribution for consumer communication campaigns, which should involve all stakeholders and be supported by political measures, alongside mandatory transparency in the use of license fees [6]. Group 4: Participating Associations - The six associations involved in this initiative include the German Retail Association (HDE), German Textile and Fashion Industry Association (textil+mode), BTE Federal Association of the German Textile, Shoe and Leather Goods Retailers, Federal Association of the German Sporting Goods Industry (BSI), German Fashion Association, and the Federal Association of E-Commerce and E-Commerce Versandhandel Deutschland e.V. (bevh) [7].