（央视财经《经济信息联播》）随着气温逐渐下降，羽绒服迎来销售旺季。今年羽绒服的价格如何？ 走访中记者发现，随着羽绒服价格的上涨，也让不少消费者把目光投向了旧衣翻新业务。 在南京浦口区一家销售羽绒服的门店，记者看到，白鸭绒绒子含量90%的短款羽绒服售价899元起，白鸭绒绒子含量90%的长款羽绒服售价1099元起。 江苏南京某羽绒服门店负责人 武景琳：去年我们家短款的90%白鸭绒羽绒服价格大概在799元，今年短款（价格）对比去年涨幅大概在20%。 导购员表示，涨价未明显抑制消费需求，11月以来门店销量同比增长10%，周末单日销售额突破3万元。其中，绒子含量高、充绒量足的保暖厚款羽绒服最 受青睐，部分热门尺码已断货。 随后，记者又走访了商场内一些时尚运动品牌门店，这类门店销售的羽绒服以白鸭绒绒子含量80%-90%为主，充绒量根据款式不同在100-300克之间，价格 在1000元以上。 转载请注明央视财经 编辑：令文芳 ...

据梅冬透露，波司登会在资源上持续给"雪中飞"赋能。"今年，我们对雪中飞品牌的投入显著高于过去 几年，除了渠道资源投入外，重点倾斜于品牌营销、产品研发等资源的投入"。 前段时间，"雪中飞"因代工阿迪达斯而备受市场关注。彼时，多位行业人士告诉记者，"雪中飞"代工国 际品牌并不让人意外，说明国产厂商现在具有大牌认可的制造代工能力。中国本土品牌的制造标准、品 控体系和工艺水平，已经达到了国际一线品牌的要求。而消费者在找到了国际大牌的"平替"后，可能会 更倾向于购买国货。 针对雪中飞在中期财报中的负增长问题，11月28日中午，波司登集团执行董事兼执行总裁梅冬在财报交 流会上向包括《每日经济新闻》在内的媒体表示，"通过10月和11月（销售），雪中飞已经由负增长转 变成了正增长，且同比增长约二十几个点"。 11月27日晚，羽绒服龙头波司登（HK03998）发布截至2025年9月30日止6个月的中期业绩。报告期内， 波司登实现营收89.28亿元，同比上涨1.4%；净利润12.01亿元，同比增长5.2%，创近年来同期历史新 高。 记者注意到，其主营业务"品牌羽绒服"收入提升8.3%至65.68亿元，其中自营渠道收入同比增长6. ...

记者丨朱艺艺 近日男装巨头海澜之家（600398）递表港交所，拟冲刺"A+H"上市。截至28日收盘，海澜之家A股市值 约296亿元。 根据弗若斯特沙利文，按2024年收入计算，海澜之家位列中国服装集团营收排名第四。 作为国内男装龙头，海澜之家已不再满足于只做"男人的衣柜"，而是要做"全家人的衣柜"。截至2025年 上半年，公司在全球布局超过7200家门店。 值得一提的是，海澜之家此番赴港上市，正值公司国际业务扩张期，已在11个海外国家拥有111家直营 门店（截至2025年上半年），公司海外收入从2017年的0.06亿元增长至2024年的3.55亿元，在此基础上 2025年上半年收入2.06亿元。 营收超200亿，超7成收入来自主品牌，业绩存在波动 除了运营男装主品牌"海澜之家"，海澜之家还布局了轻奢女装品牌"OVV"、高端婴童装品牌"英氏"等。 此外，公司亦经营生活方式家居品牌"海澜优选"。 | | | 加盟 | 經銷商 | | | --- | --- | --- | --- | --- | | 品牌門店 | 直營店 | 合夥門店 | 運營門店 | 總計 | | 海瀾之家 | 1,776 | 3,947 | ...

Core Viewpoint - The company, HLA (海澜之家), is pursuing an "A+H" listing on the Hong Kong Stock Exchange, aiming to expand its market presence and capitalize on its international business growth, with a current A-share market capitalization of approximately 29.6 billion RMB [1]. Group 1: Business Expansion and International Strategy - HLA is transitioning from being a men's clothing brand to a family-oriented clothing brand, with plans to operate over 7,200 stores globally by mid-2025 [1]. - The company has expanded its international presence, currently operating 111 direct stores in 11 overseas countries, with overseas revenue growing from 0.06 billion RMB in 2017 to 3.55 billion RMB in 2024 [1][10]. - HLA's international strategy focuses on Southeast Asia and aims to penetrate emerging markets in Australia, Africa, the Middle East, and Central Asia [12]. Group 2: Financial Performance - HLA's revenue for 2022, 2023, 2024, and the first half of 2025 was 17.9 billion RMB, 20.8 billion RMB, 20.2 billion RMB, and 11.2 billion RMB, respectively, indicating some revenue fluctuations [5][11]. - The main brand, HLA, contributed approximately 75% to 78% of total revenue from 2022 to 2025, although it faced a revenue decline in 2024 and the first half of 2025 [7]. - The company's gross profit margin improved from 43.4% in 2022 to 46.9% in the first half of 2025, reflecting better cost management [5]. Group 3: Brand Portfolio and Market Position - In addition to its main brand, HLA operates several other brands, including the luxury women's brand OVV and the high-end children's brand Ying's, although these brands contribute a smaller portion of total revenue [2][7]. - HLA has established partnerships with international brands like Adidas and HEAD, enhancing its market position in sportswear [4][5]. - The company emphasizes its competitive advantage through high cost-performance ratios, with the main brand HLA being the primary revenue driver [6][7].

以下文章来源于凤凰生活报告 ，作者凤凰WEEKLY 凤凰生活报告 . 是衣食住行，也是时尚与商业。 通勤校服。 作者/馍人 编辑|杜都督 来源/凤凰生活报告 (ID：PhoenixLifestyleRpt) 众所周知，时尚圈有个潜规则： 每隔一段时间，就必须要流行一种"丑"东西。之前的丑东西，是勃肯鞋、杀鱼靴、大肠 鞋；今年秋冬值班的第一件丑东西，不仅看上去潮，摸上去还黏。 它就是已经悄悄占领三里屯、永康路和太古里的：Ba r b o u r油蜡外套。 " 同 样 是 军 绿 色 和 是 宽 松 直 筒 的 版 型 ， 为 什 么 有 些 人 就 是 英 伦 皇 室 ， 有 些 人 就 是 赵 四 儿 ？ " 不 管 进 入 任 何 一 个 互 联 网 ， 关 于 Ba r b o u r 讨 论 区 ， 最 终 都 会 被 传 送 到 东 北 乡 村 剧 片场。 虽然，第一眼看上利落又潇洒；仿佛女生穿上，能立刻化身凯特、黛安娜；男生要么是 蒋奇明，要么也能加入技能五子棋…… 然而穿过的人，都有口难言。一言以蔽之，一句话："这大几千的衣服，我穿上为啥像 个杀鱼的？ " 都市丽人和乡村爱情 只隔一件Barbou ...

值得一提的是，海澜之家此番赴港上市，正值公司国际业务扩张期，已在11个海外国家拥有111家直营 门店（截至2025年上半年），公司海外收入从2017年的0.06亿元增长至2024年的3.55亿元，在此基础上 2025年上半年收入2.06亿元。 【#海澜之家全球门店超7200家#】海澜之家于近日递表港交所，拟冲刺"A+H"上市。根据弗若斯特沙利 文，按2024年收入计算，海澜之家位列中国服装集团营收排名第四。截至2025年上半年，公司在全球布 局超过7200家门店。 ...

11月29日，青年企业家成长纪实真人秀《老板是新人》开播，节目采用"实景纪实+棚内观察"的双线叙 事结构，兼顾真实感与深度性。一方面，真实全程跟拍青年企业家应对具体经营挑战的全过程，还原商 业决策、压力应对的真实模样；另一方面，集结主持人、经济学家、职场人以及他们的前辈"创一代"组 成观察团，多维度解读商业行为背后的产业逻辑与社会价值。 一场变革，激荡民营经济浪潮，为中国制造的转型之路注入青春动能；一场接力，关乎民营经济薪火相 传，见证中国制造在破立之间焕发新生。11月29日起每周六中午12点芒果TV上线、湖南卫视《老板是 新人》22点播出，一同走进青年企业家的真实战场，共同见证新人老板的破局之路！ （半岛全媒体记者 王悦） 片中首位出场的黄渝湘坦言，自己从互联网大厂辞职跨界接手服装工厂时是完全空白，她希望通过节目 展现中小企业真实的生产现状与库存压力，打破外界对"厂二代"的刻板印象。在销售旺季，既要面对父 亲对自身的质疑，又要应对销售10万件的艰巨任务，在工作压力与亲情催婚的双重夹击下，父女间的矛 盾一触即发。 硅谷精英董凡铭跨界接手烘焙工厂，他认为自身回归传统制造业并非"降维打击"，而是经历了自我认知 的 ...

以下文章来源于盐财经 ，作者孙月 盐财经 . 洞察趋势，睿智人生。《南风窗》旗下专业财经媒体。 陆雨第一次穿上新外卖服，是在入冬前后的清晨。他拉上拉链的那一刻，亮橙色在站点的薄雾里跳了一 下，比他预想的更精神。本以为只是一件日常工作制服，可这段时间里，它却频频招来路人多看几眼。 今年秋冬，外卖服成了最火的冲锋衣。原本属于街头奔忙者的工服，被越来越多非骑手加入了抢购行列。 最早助力这波外卖服热的，是爱好户外运动的新中产。人们发现，各种橙色、黄色、红色、蓝色的外卖 服，出现在美国、日本、加拿大的滑雪场上。"外卖小哥风雨无阻骑车之刚需，理论上防风防水防寒耐用性 应该都不错，为何不用来代替动不动几百上千的滑雪服呢？"有人在滑雪场进行实地测试后得出结论："感觉 这辈子不会买牌子货了。" 外卖服出现在世界各地的滑雪场上/图源：@胖鱼的主人 一个关于外卖服的交易市场也悄然成型。某电商平台显示，一家店铺的美团外卖冲锋衣同款销量达到了1万 +；在二手平台上，某个淘宝骑士服交易链接已成交超过100单，2900多人选择了"想要"。 外卖工服真的要引领下一波"冲锋衣生意"了吗？ 01 外卖工装成滑雪服 打开某个即时配送众包App的" ...

Core Insights - Bosideng International Holdings Limited reported its financial results for the first half of the 2025/2026 fiscal year, showing a revenue of 8.93 billion yuan, a year-on-year increase of 1.4%, and a net profit attributable to shareholders of 1.19 billion yuan, up 5.3% [1] - The gross profit margin remained high at 50%, with a slight increase of 0.1 percentage points, while the operating margin improved by 0.3 percentage points to 17% [1] Revenue Breakdown - The down jacket business continued to show strong growth, achieving revenue of 6.57 billion yuan, a year-on-year increase of 8.3%, accounting for 73.6% of total revenue, making it the core driver of the company's performance [1] - The company also expanded its product offerings in the fashion functional technology apparel segment, introducing products such as functional jackets and sun protection clothing for the spring and summer seasons [1] Channel Development - Bosideng optimized its channel quality, with the number of regular outlets for its down jacket business reaching 3,558, an increase of 88 from the end of the previous fiscal year [1] - The company focused on expanding flagship stores and concept stores while enhancing single-store operations through a refined operational system tailored to different store locations and consumer characteristics [1] Inventory and Sales Channels - Inventory turnover days decreased to 178 days, down by 11 days year-on-year [2] - The self-operated channel revenue grew by 6.6% year-on-year, while wholesale channel revenue increased by 7.9% [2] - Online sales continued to rise, with a greater focus on live e-commerce and social marketing to attract younger consumers, further increasing the online sales proportion [2] Brand Strategy - Bosideng is expanding its presence in the fashion functional technology apparel sector through a multi-brand strategy, developing a diverse brand matrix to meet various consumer needs [2] - In the high-end market, the company collaborated with Kim Jones on the AREAL series and made strategic investments in luxury down jacket brands, quickly entering the high-end functional apparel market [2] - In the value-for-money segment, Bosideng covers a broader consumer base through sub-brands such as Xuezhongfei and Bingjie [3]

Investment Rating - The report maintains a "Buy" rating for the company, indicating an expected price increase of over 15% in the next 6-12 months [5][13]. Core Insights - The company reported a revenue of 8.928 billion RMB for the first half of FY2026, a year-on-year increase of 1.4%, and a net profit attributable to shareholders of 1.189 billion RMB, up 5.3%, aligning with expectations [2]. - The company's down jacket business saw revenue of 6.568 billion RMB, growing 8.3% year-on-year, driven by steady growth in both direct and franchise channels [3]. - The gross margin improved by 0.1 percentage points to 50.0%, although the down jacket gross margin decreased by 2.0 percentage points to 59.1% due to a higher proportion of lower-margin distribution channels [4]. - The company is optimistic about its performance in the second half of the year, supported by successful new product launches and effective inventory management [4]. Summary by Sections Performance Review - The company achieved a revenue of 8.928 billion RMB in the first half of FY2026, with a net profit of 1.189 billion RMB, reflecting a 1.4% and 5.3% increase respectively [2]. Operational Analysis - The down jacket segment generated 6.568 billion RMB in revenue, with the main brand, Bosideng, contributing 5.719 billion RMB, showing an 8.3% increase [3]. - The online channel revenue for down jackets was 1.383 billion RMB, up 2.4%, while offline direct and franchise channels reported revenues of 2.411 billion RMB and 3.701 billion RMB, growing 6.6% and 7.9% respectively [3]. Margin and Cost Management - The gross margin increased slightly to 50.0%, with effective cost control reflected in the marketing management expense ratio [4]. - Inventory turnover days decreased by 11 days compared to the previous year, indicating improved inventory management [4]. Profit Forecast and Valuation - The company is projected to achieve net profits of 3.920 billion RMB, 4.322 billion RMB, and 4.739 billion RMB for FY2026, FY2027, and FY2028 respectively, with corresponding P/E ratios of 13, 12, and 11 [5].