上市刚满一年，毛戈平家族要套现巨额现金进行"改善个人生活"等。 1月6日晚，港股上市公司毛戈平公司发布减持公告，控股股东及执行董事毛戈平、汪立群、执行董事毛 霓萍、毛慧萍、汪立华及宋虹佺基于自身财务需求，拟在减持预披露公告发布之日起6个月内，主要通 过大宗交易方式合计减持其所持有的公司H股股份数量不超过1720万股，即不超过公司已发行股份总数 的3.51%。 公告称，股东系因自身财务需求拟减持其所持有的部分股份，减持所得款用途包括但不限于美妆相关产 业链的投资、改善个人生活等。 从减持主体看，上述六人均为公司执行董事，且除担任公司总裁的核心高管宋虹佺外，其余五位均为毛 戈平的直系亲属或姻亲：汪立群为毛戈平的配偶，毛霓萍和毛慧萍为毛戈平的姐姐，以及妻弟汪立华。 | 毛戈平2025年半年报 | | --- | 自2024年12月上市后，毛戈平家族成员及一致行动人合计持股比例超过67%，股权高度集中。减持计划 不会导致公司控制权发生变更，减持后，毛戈平及其一致行动人仍合计持有公司约63.8%的股份。 毛戈平公司由知名化妆师毛戈平创立，主营高端彩妆产品。三度"折戟"A股后，2024年12月，毛戈平在 港交所主板挂牌上 ...

21世纪经济报道记者高江虹实习生张贺芸 上一周，全球时尚、快消与高端文旅行业在业绩分化与战略调整中探索新增长路径。 企业财报揭示市场多维图景，库克增持耐克股票彰显长期信心，Nike第二季度营收虽超预期，却难掩增长引擎分化态势； Birkenstock全年利润大增但增速指引放缓，引发市场担忧；而Stella McCartney亏损扩大，显示可持续理念在商业转化中仍面临 挑战。 战略投资与收购活跃，资本与供应链布局持续深化，彩妆品牌Anastasia Beverly Hills创始人注资2.25亿美元展开自救。行业高层 领导结构亦现关键变动，业绩承压下科蒂换帅由宝洁系老将接任，Lululemon打响控制权争夺战，中国美妆包装企业嘉亨家化 （300955）完成二代接班的法律交棒。这些核心人事与治理结构的变动，无不折射出企业在增长压力与竞争变局中，试图通过 更换舵手来重绘未来航线的迫切努力。 在本土品牌与国际老牌的博弈中，奢侈品市场定价策略生变。爱马仕在中国市场涨价"减速"，显示依赖提价的增长模式面临瓶 颈。高端文旅成为资本新焦点，万豪于敦煌签约丽思卡尔顿隐世酒店，黑石收购澳大利亚汉密尔顿岛度假区，标志着顶级自然 资 ...

Core Insights - The global fashion, fast-moving consumer goods, and high-end tourism industries are exploring new growth paths amid performance differentiation and strategic adjustments [1] - Companies are facing varying growth dynamics, with Nike exceeding revenue expectations but showing signs of pressure, while Birkenstock's profit growth guidance has slowed, raising market concerns [1][14] - Strategic investments and acquisitions are active, with notable leadership changes reflecting companies' urgent efforts to navigate growth pressures and competitive shifts [1] Group 1: Company Performance - Nike reported a second-quarter revenue of $12.4 billion, exceeding market expectations, but its self-operated business revenue declined by 8% [7][8] - Birkenstock achieved a 16.2% year-on-year revenue growth to nearly €2.1 billion, with a net profit increase of 81.8% to €348.3 million, but its cautious revenue guidance for 2026 led to a significant stock drop [14][8] - Stella McCartney's revenue fell by 27% to £16 million, marking the lowest point since 2009, with a net loss of approximately ¥310 million, highlighting operational vulnerabilities [16] Group 2: Strategic Moves - Lululemon's founder Chip Wilson nominated three board candidates to address the lack of a clear CEO succession plan and product innovation experience [3] - Anastasia Beverly Hills' founder injected $225 million to strengthen financial health and reduce debt, following a significant reduction in TPG's stake [5][6] - Coty appointed Markus Strobel as interim CEO, indicating a shift towards leadership with experience in high-end beauty and global operations [9] Group 3: Market Trends - Hermès slowed its price increases in China, with the highest increase capped at 10%, reflecting challenges in relying solely on price hikes for growth [4] - High-end tourism is becoming a new focus for capital, with Marriott signing a deal for a Ritz-Carlton hotel in Dunhuang, and Blackstone acquiring Hamilton Island for approximately AUD 1.2 billion [10][11] - The beauty industry is witnessing a generational transition, with companies like嘉亨家化 planning leadership changes to adapt to new market dynamics [15]

基于对行业变革的深刻研判，报告精准提炼出两大消费趋势：一方面，消费者不再满足于彩妆的即时修 饰效果，转而追求"妆养合一"的产品价值，并期待实现长效肌肤滋养与肤质改善；另一方面，在快节奏 生活下，消费者将"精简即新精致"奉为美妆哲学，追求高效的化妆流程，直接驱动面部综合盘、眼部综 合盘等多功能品类持续扩容。 此次报告的发布，是值得买科技与鲸鸿动能达成深度合作后的首次成果落地，值得买消费产业研究院凭 借海量内容与消费数据洞察消费决策逻辑，鲸鸿动能依托鸿蒙生态全域数据底座与"鲸鸿指数"量化分析 用户需求，双方共同构建了从需求洞察、产品创新到消费决策的全链路分析模型，为彩妆产业提供了具 备前瞻性与落地性的趋势指引。值得买消费产业研究院执行院长赵一鹤表示，"未来双方将在深化消费 洞察领域合作的基础上协同探索，以专业的数据洞察与科学的分析模型，输出更多领域的趋势洞察报 告，助力产业高质量、可持续发展。" 未来，值得买消费产业研究院将持续携手高等院校、智库机构、行业协会等多方合作伙伴，探索并输出 更多具有深刻洞察和行业指引价值的研究成果，为从业者与品牌商提供市场参考，为消费产业提质升级 注入动能，为"创造人人因消费而幸福的 ...

中国美妆品牌的全球化，走到一个新的分水岭。 当规模扩张与效率红利逐渐趋于常态，"出海"开始回到一个更本质的问题：品牌是否具备被持 续识别和长期记住的能力。《FBe a u t y未来迹》注意到，一批新锐国货品牌的出海逻辑已经发 生 转 向 —— 不 再 以 单 一 产 品 或 渠 道 作 为 突 破 口 ， 而 开 始 尝 试 以 品 牌 系 统 为 核 心 ， 从 " 产 品 输 出"真正走向"品牌输出"。 2 0 2 5年末，INTO YOU心慕与你在上海举办品牌发布会，宣布品牌 首个面向全球发售 的产品 线"萌兰联名系列"即将上市。跳出新品联名本身，这项动作其实标志着INTO YOU的全球化 战略已经进入加速期，转向品牌化与长期认知建设的整体推进。 INTO YOU心慕与你"自在玩美"主题品牌活动 在 这 一 背 景 下 ， 出 海 的 核 心 挑 战 正 在 发 生 转 移 ： 不 再 是 " 如 何 卖 出 去 " ， 而 是 " 如 何 被 长 期 记 住"。 《FBe aut y未来迹》发现，INTO YOU心慕与你的出海策略，显现出不同于主流路径的特征 ——以产品力为入场券，以品牌力实现区隔 ...

近日，据外媒援引知情人士消息，"彩妆教母"Pat McGrath的同名彩妆品牌Pat McGrath Labs正在推进资产出售事宜。据悉，全球投资顾问公司Hilco Global 将负责主导此次交易流程。 值得一提的是，早在2018年，该品牌创立仅三年之际，其估值就已超10亿美元（约合人民币70.37亿元），并于2023年入选《胡润全球独角兽榜》，被誉 为美妆界的"独角兽"。 与此同时，创始人Pat McGrath的行业影响力从未消退——从去年为MaisonMargiela 2024春夏高定秀设计引发热议的"瓷娃娃"妆容，到今年出任LV美妆创 意总监并主导该品牌新系列开发，其个人热度居高不下。 那么，无数光环傍身的Pat McGrath Labs为何踏上出售之路？ 01 成立三年估值超70亿 据外媒报道，此次出售范围涵盖Pat McGrath Cosmetics LLC及Patricia McGrath本人名下的质押抵押品。 Pat McGrath Labs品牌发言人回应称："Pat McGrath Labs目前正与合作伙伴开展重组及资本重组流程，旨在让财务架构与品牌持久的实力及创意领导力相 匹配。这些流程预 ...

全球消费市场正在经历一场深层变化。 从宏观层面看，消费整体增速正在放缓，但放缓并不意味着全面收缩。Euromonitor International《2025 全球消费者趋势报告》指出，经济不确定性正在重 塑消费规范，消费者更倾向于"战略性购物"。 在这一背景下，那些能够提供情绪价值、差异化创新、体验升级的高端产品，反而在部分细分品类中跑赢大众市场。 也正是在这样的拐点上，一批中国品牌逐渐跑出了逆势增长的出海曲线：5000 美元定价的 Yarbo 扫雪机器人持续进入亚马逊品类畅销榜；Why Worry 成 人护理用品定价高出跨国品牌 20–30%，核心产品稳居亚马逊畅销榜前 20 名；花知晓美妆登陆海外后价格加倍，并连续多日霸榜亚马逊日榜。 进入更高的价格区间，并未成为这些新锐品牌增长的阻力。相反，它们反而更快在全球市场建立起清晰的用户认知与稳定的销售节奏。 这种"高价快跑"的现象背后，也折射着出海进程的新一轮转向：当品牌能提供具有足够说服力的"差异化价值"时，全球消费者正表现出更强的消费意愿。 那么，在消费逻辑全面转向"价值导向"的当下，中国品牌该如何重塑自身的表达？又该如何通过有效的路径，将这些价值精准传 ...

Investment Dynamics - American startup Rotostitch has completed an oversubscribed seed round financing, raising $1 million, led by Boost VC and Nova Threshold. The funds will accelerate product development, expand production capacity, and enhance market promotion [2] - Classic menswear brand Paul Stuart is set to sell its U.S. business to Boston private equity firm Middle West Partners, with Canadian high-end apparel manufacturer Peerless Clothing as a co-investor. The terms of the sale have not been disclosed [4] - Korean fashion retail platform MUSINSA has opened its first international flagship store in Shanghai, with plans to expand to over 100 stores in China within five years, aiming for a combined revenue of over 1 trillion KRW (approximately 4.8 billion RMB) by 2030 [9] - U.S. cosmetics brand Anastasia Beverly Hills is undergoing a debt restructuring, with TPG Capital reducing its stake to about 6%. The founder is exploring options, including injecting approximately $225 million into the company [11] - Japanese sportswear brand Onitsuka Tiger has launched its first perfume line, Wearing Quiet Radiance, featuring four products designed by renowned perfumer Mark Buxton [14] - German sports brand Puma announced the departure of global corporate communications executive Kerstin Neuber after 18 years, with Robert-Jan Bartunek temporarily taking over [17] - Danish women's fashion brand Ganni has appointed former Prada executive Marcelo Noschese as President for the Americas, along with other key appointments to enhance its global expansion [20] Brand Dynamics - LANCY by Langzi has launched a New Year series themed "Galloping Spring Breeze," collaborating with German illustrator Karlotta Freier for a unique artistic design [6] - The potential departure of Coty CEO Sue Nabi after over five years may lead to strategic evaluations and asset sales, impacting the company's future performance [24] - Pandora has announced that Berta de Pablos-Barbier will officially take over as CEO on January 1, 2026, completing a smooth leadership transition [28]

Core Viewpoint - The entry of Chinese beauty brand Florasis into the mainstream U.S. beauty retail system through Ulta Beauty marks a significant shift in the international expansion of Chinese cosmetics, indicating a transition from merely selling products to establishing a sustainable presence in high-quality markets [5][12][23]. Group 1: Florasis' Entry into Ulta Beauty - Florasis officially entered the U.S. market by joining Ulta Beauty's online platform, showcasing a complete product range that includes intricately crafted makeup palettes and modern interpretations of Eastern-inspired lip products [5][6]. - The U.S. market has been historically challenging for Chinese beauty brands due to high competition and strict retail standards, making Florasis' entry through Ulta a notable industry signal [7][9]. - Ulta Beauty, established in 1990, is one of the largest beauty retailers in the U.S., featuring over 600 brands and 25,000 products, which emphasizes the importance of brand stability and consumer engagement for new entrants [9][10]. Group 2: Significance of Florasis' Market Position - Florasis' entry into Ulta Beauty signifies the growing trend of C-beauty (Chinese beauty) in the U.S. market, with the brand being recognized for its Eastern aesthetic [12]. - The inclusion of Chinese brands in mainstream U.S. retail systems reflects a broader evaluation of product performance, regulatory compliance, and brand messaging that resonates with mainstream consumers [12][23]. - Florasis has previously established a presence in Japan and France, indicating a strategic approach to building brand recognition before entering mainstream retail channels [13][17]. Group 3: Evolution of Chinese Beauty Brands - The traditional path for Chinese beauty brands involved relying on cross-border e-commerce and targeting Chinese consumer groups abroad, but this model has limitations in achieving long-term market presence [23][25]. - As competition intensifies in the global beauty market, brands must transition from a transaction-oriented approach to a more structured, sustainable model that emphasizes brand identity and consumer connection [25][26]. - Florasis exemplifies a new model of high-quality international expansion, focusing on long-term brand building and systematic capabilities rather than rapid market penetration [28]. Group 4: Industry Implications - The entry of Florasis into Ulta Beauty reflects a structural change in the Chinese beauty industry's approach to international markets, moving from peripheral participation to core market engagement [23][28]. - This shift indicates that Chinese beauty brands are increasingly being recognized as integral parts of the retail ecosystem rather than supplementary options, which has significant implications for the entire industry [28]. - The evolving landscape suggests that long-term value, systematic capabilities, and a global perspective are becoming essential for success in mature markets [28].

乱价销售的危害远超想象。某国产彩妆品牌曾因代购低价倾销，半年内线下专柜客流量下降30%，不少经销商因利润缩水选择解约。更 严重的是，低价产品往往伴随假货风险，某母婴品牌查获的仿冒纸尿裤，因原料劣质导致多名婴儿红屁屁，品牌口碑一落千丈。这些案 例印证了"价格是品牌的生命线"，放任乱价无异于品牌自毁长城。 "这款护肤品官网卖599，怎么某代购店才299？"消费者的疑问背后，藏着品牌控价维权的迫切性。在电商蓬勃发展的今天，品牌控价维 权已成为企业生存的必修课。所谓品牌控价维权，就是品牌方通过制定统一价格体系，依托法律手段与技术监测，打击线上线下低价窜 货、乱价销售等行为，维护市场价格秩序与品牌形象的系统性工作。 市场控价的关键在于"及时"。互联网传播的即时性让乱价信息几秒内就能扩散，某运动品牌曾因一款新品被网红低价带货，24小时内全 网出现上百个跟风低价链接，虽最终完成清理，但品牌溢价损失已超千万元。及时控价不仅能减少经济损失，更能向市场传递"品牌重视 价格秩序"的信号，增强经销商与消费者的信任。 对中小企业而言，不必因成本顾虑放弃控价。如今不少第三方服务机构可提供定制化方案，从监测到维权全程托管，成本仅为自营团队 ...