HaiXing Market的故事，始于一次跨界"头脑风暴"，成于一套打破常规的商业逻辑。它背后是深耕品牌全渠道运营的香港还行泛娱有限公司，其创始人王 子烨，既是B站上以热爱发电的香水UP主"好奇的王还行"，也是商业世界中敏锐的操盘手。 在全球零售业经历深刻变革、消费者从"购买商品"转向"体验内容"的时代浪潮中，一种全新的零售物种正在中国悄然崛起。它既非传统百货的专柜，也非 连锁店的翻版，更不是快闪店的昙花一现。它将自己定义为 "先锋美学灵感之地" ，一个 "可以逛的小红书" 。这便是HaiXing Market——一个从诞生之初 就携带着颠覆基因的小众美奢集合店品牌。 作为小众品牌的重要代理方，HaiXing Market团队洞察到主流渠道存在显著空白。一方面，传统百货与购物中心因追求SKU规模，对产品线精简的小众品 牌准入门槛高；另一方面，传统美妆集合店（CS渠道）在市场竞争加剧下，对新兴小众品牌的孵化与支持资源也日趋有限。基于此，HaiXing Market于 2024年战略性创立，旨在打造一个专注于甄选、培育并商业化小众品牌的创新型渠道。 创始人王子烨向CBO分享道，当前，HaiXing Market ...

莎莎国际控股有限公司是一家主要于亚洲从事美妆产品零售业务的投资控股公司。该公司通过自有品牌 和独家代理的国际品牌销售护肤品、香水、化妆品、护发、身体护理产品、美肌保健产品及家用美容仪 器等。该公司在香港及澳门特别行政区、中国内地、及东南亚运营零售店，并通过电子商贸平台提供网 上零售服务，为顾客提供全渠道购物体验。 以上内容为证券之星据公开信息整理，由AI算法生成（网信算备310104345710301240019号），不构成 投资建议。 证券之星消息，1月5日南向资金减持2000.0股莎莎国际（00178.HK）。近5个交易日中，获南向资金减 持的有5天，累计净减持9.8万股。近20个交易日中，获南向资金减持的有20天，累计净减持21.4万股。 截至目前，南向资金持有莎莎国际（00178.HK）182.52万股，占公司已发行普通股的0.05%。 ...

莎莎国际控股有限公司是一家主要于亚洲从事美妆产品零售业务的投资控股公司。该公司通过自有品牌 和独家代理的国际品牌销售护肤品、香水、化妆品、护发、身体护理产品、美肌保健产品及家用美容仪 器等。该公司在香港及澳门特别行政区、中国内地、及东南亚运营零售店，并通过电子商贸平台提供网 上零售服务，为顾客提供全渠道购物体验。 证券之星消息，12月30日南向资金减持2000.0股莎莎国际（00178.HK）。近5个交易日中，获南向资金 减持的有5天，累计净减持10.0万股。近20个交易日中，获南向资金减持的有20天，累计净减持21.8万 股。截至目前，南向资金持有莎莎国际（00178.HK）182.72万股，占公司已发行普通股的0.05%。 以上内容为证券之星据公开信息整理，由AI算法生成（网信算备310104345710301240019号），不构成 投资建议。 ...

Core Insights - The beauty retail landscape in 2025 has undergone a strategic transformation, with traditional department stores closing approximately 20 beauty counters daily, resulting in a net reduction of over 5,000 points throughout the year. In contrast, more than 80 new stores have opened across various formats, indicating a shift in the essence of store openings from mere locations to interactive "experience generators" [1][4][20]. Group 1: Changes in Retail Strategy - The focus of foreign brands has shifted from establishing static brand landmarks to creating dynamic operational "experience laboratories" that engage consumers [5][8]. - The concept of "first stores" has evolved, with brands now competing not just for geographical presence but for the best resources to launch globally, making China a key market for premier brand assets and innovative products [8][10]. - The traditional department store channel has seen a significant efficiency optimization, with a beauty brand counter opening and closing ratio of only 0.6, reflecting a strategic shift towards deeper experiential value creation [20][43]. Group 2: Local Brand Strategies - Local brands have completed a strategic evolution, moving beyond imitation to establish distinct paths in fragrance, color cosmetics, and skincare, focusing on systematic brand space construction rather than scattered store openings [22][38]. - Three distinct paths for local fragrance brands have emerged: cultural deepening, matrix penetration, and business model integration, each targeting unique market segments and consumer experiences [24][31]. - Local brands are also exploring international markets, with brands like JUDUO and JOOCYEE opening their first overseas stores, indicating a systematic exploration of international growth [32][33]. Group 3: Innovative Retail Formats - Pop-up stores have evolved from marketing events to "high-end experience laboratories," offering flexible themes and deep technological integration, exemplified by Lancôme and SkinCeuticals [11][13]. - Some foreign brands are merging retail with lifestyle solutions, as seen with HARNN's "SPA + retail" concept, allowing customers to experience the brand's culture and services in a holistic manner [15][16]. - The integration of various business models is becoming standard, with brands like MARCH creating multi-functional spaces that combine fragrance with cultural and lifestyle elements [29][41]. Group 4: Market Dynamics and Future Trends - The role of cities in brand strategy has been redefined, with high-tier cities serving as core battlegrounds for brand recognition and narrative development, while lower-tier cities are seen as growth areas for brand expansion [40][41]. - The future of beauty retail is shifting from geographical competition to the creation of mental and experiential spaces, emphasizing the importance of opening the "right" store in strategically chosen locations [43][44].

Core Viewpoint - The recent announcement by the National Medical Products Administration regarding 37 batches of non-compliant cosmetics has highlighted the challenges of counterfeit products in the instant retail sector, particularly on platforms like Meituan [1] Group 1: Instant Retail Growth and Market Potential - The instant retail market in China is projected to exceed 1 trillion yuan by 2026 and reach 2 trillion yuan by 2030, with an average annual growth rate of 12.6% during the 14th Five-Year Plan period [1][2] - Major e-commerce platforms, including JD.com and Alibaba, have significantly invested in instant retail, with JD.com entering the food delivery sector and offering substantial subsidies to attract users and merchants [2][4] - Instant retail has shown remarkable performance during the Double 11 shopping festival, with total e-commerce sales reaching 16,950 billion yuan, a year-on-year increase of 14.2%, while instant retail sales surged to 670 billion yuan, up 138.4% [4] Group 2: Adaptability of Beauty Products in Instant Retail - Beauty products are well-suited for instant retail due to their small size, high price points, and standardized nature, making them ideal for quick delivery [5] - The beauty industry has embraced instant retail as a pioneering sector, with major platforms like Meituan and JD.com seeing significant growth in beauty product sales [6] Group 3: Differentiated Development of Beauty Brands - Beauty brands are primarily adopting an indirect entry model into instant retail, relying on beauty collection stores and large supermarkets to reach consumers [7] - Notable brands like L'Oréal and Lin Qingxuan have successfully completed official certifications for entry into instant retail platforms, while many others are still in the process [7][8] Group 4: Consumer Behavior and Market Dynamics - Despite the rise of instant retail, some industry experts argue that it may not significantly alter the current landscape of offline retail, as consumers often stock up on beauty products rather than relying on immediate purchases [9] - The overlap between instant retail customer bases and existing offline store customers suggests that speed may not be the primary concern for beauty consumers [9] Group 5: Strategic Considerations for Retailers - Retailers are advised to focus on brand strength, quality, pricing, and service rather than chasing every market trend, as a strong brand presence can naturally attract consumers regardless of channel changes [11][12] - Companies like Jinjia Chong have maintained a sustainable development model by emphasizing authenticity and affordability, which has contributed to their long-term success in the market [11]

丝芙兰正被重塑。丝芙兰近日宣布与多款平价彩妆品牌合作，包括在抖音火起来的BABI、丸美生物旗 下的恋火、专攻眼部的三资堂等。这些一同进入丝芙兰渠道的品牌有着很多相似点——平价、热度高且 销量不俗。定位高端甚至高奢的丝芙兰，正向平价敞开大门以实现更多元化发展，而这种改革更像是一 场丝芙兰的自救。当其在中国市场销售遇阻，陷入亏损，引入爆火的平价品牌成为丝芙兰放下身段的自 救方式，但是有没有用，还需要时间验证。 流量款入驻 丝芙兰引入的这些品牌有一个共同点——平价且销量非常亮眼。 以恋火为例，该品牌为丸美生物于2017年推出的彩妆品牌，部分产品单价在百元以下，近年来在丸美生 物财报中表现不俗，成为丸美生物旗下足以支撑业绩增长的品牌。根据财报数据，恋火品牌2021年营收 6617.46万元，增幅高达463.49%；2022年营收2.86亿元，同比暴涨331.1%；2023年营收6.43亿元，同比 增长125.14%；2024年营收9.05亿元，同比增长40.72%。今年，预计恋火品牌将突破10亿元营收规模。 再看丝芙兰引入的产品单价约50元的BABI，该品牌的一款定妆喷雾在抖音一度成为爆款产品。 根据公开数据，BAB ...

丝芙兰正在被重塑。近日，丝芙兰宣布与多款平价彩妆品牌合作，包括在抖音火起来的BABI、丸美生物旗下的恋火、专攻眼部的三资堂等。这些一同进入 丝芙兰渠道的品牌有着很多相似点——平价、热度高、销量不俗……定位高端甚至高奢的丝芙兰，正在向平价敞开大门以实现更多元化的发展，而这种改革 更像是一场丝芙兰的自救。当其在中国市场销售遇阻，陷入亏损，引入爆火的平价品牌成为丝芙兰放下身段的自救方式，但是有没有用，还需要时间验证。 流量款入驻 丝芙兰引入的这些品牌有一个共同点——平价且销量非常亮眼。 以恋火为例，该品牌为丸美生物于2017年推出的彩妆品牌，部分产品单价在百元以下，近几年在丸美生物财报中表现不俗，成为丸美生物旗下足以支撑业绩 增长的品牌。根据财报数据，恋火品牌2021年营收实现6617.46万元，增幅高达463.49%；2022年营收为2.86亿元，同比暴涨331.1%；2023年营收为6.43亿 元，同比增长125.14%；2024年营业收入9.05亿元，同比增长40.72%。2025年预计恋火品牌将突破10亿元营收规模。 再看丝芙兰引入的产品单价在50元左右的BABI，该品牌的一款定妆喷雾在抖音一度成为爆款产品 ...

Core Insights - Mannings has announced its exit from the mainland China market, with offline stores closing by January 15, 2026, and its online store ceasing operations by December 28, 2025, reflecting a significant strategic shift [2] - The closure of Mannings follows a similar move by Sa Sa International, which also exited the mainland retail market due to weak consumer spending and a shift towards online shopping [3] Group 1: Company Actions - Mannings will close its last offline stores in mainland China by January 15, 2026, and its online operations will end by December 28, 2025 [2] - Sa Sa International has already closed its last 18 offline stores in mainland China by June 30, 2025, indicating a trend among Hong Kong beauty retailers [2][3] Group 2: Market Dynamics - The closures reflect a broader trend in the beauty retail market in mainland China, where consumer preferences have shifted significantly towards online shopping, with over 80% of Sa Sa's sales coming from online channels [3] - Both Mannings and Sa Sa International initially thrived in the mainland market but are now struggling due to increased competition from e-commerce platforms and changing consumer preferences [3][4] Group 3: Challenges Faced - Traditional beauty retailers are facing development challenges as their previous advantages are no longer sufficient in a rapidly changing market [5] - The aging product offerings in stores, such as Mannings, have not kept pace with evolving consumer demands, leading to decreased interest from younger consumers [3][5]

以下文章来源于新品略财经 ，作者吴文武 新品略财经 . 洞察商业热点，探究商业本质 再见了，万宁。 文 ｜ 吴文武 来源｜ 新品略财经（ID：nbscaijing） 封面来源 ｜ IC photo 老牌港资药妆零售巨头万宁终究撑不住了，官宣将关闭内地所有线上线下门店，成了一滴时代的眼泪。 万宁做出新选择的背后是当年享受到了消费红利的老牌港资美妆连锁巨头们，现在走到了十字路口。 万宁终究撑不住了， 关闭内地所有门店 零售行业日前曝出一条重磅新闻，香港老牌美妆集合店品牌万宁，做出了一个艰难的选择，官宣将关闭中国内地所有线下门店及线上商城。 "新品略财经"关注到， 12 月 16 日，万宁中国官网发布了一则《关于线下及线上门店停止运营及会员积分处理的公告》，宣布其线下门店最后营业日为 2026年 1 月 15 日，之后将正式停止运营。 那么，万宁这家来自中国香港的大型知名药品和美妆连锁零售巨头，经历了一个怎样的发展故事？如今又为何要黯然撤离？ 公告称，线上万宁商城（小程序）将于 2025 年 12 月 28 日 24 时停止运营，其天猫旗舰店、京东旗舰店、天猫保健品专营店、拼多多旗舰店也将在 12 月 26 日24 ...

此外，屈臣氏在内地积极布局毛利率较高的自营品牌，屡次陷入质量争议，消费者投诉 【下载黑猫投 诉客户端】不断，进一步伤害了品牌信任度。 近日，《BUG》栏目在万宁广州某店看到，昔日琳琅满目的货架，如今已显得有些空旷，店内多处悬 挂着"限时优惠"的醒目标语，头部大品牌都已下架，店员直言"因为要关店，之前卖完了就不再进货 了"。 昔日风光的万宁、莎莎国际（SaSa）、屈臣氏等港资零售巨头，如今已纷纷寻找新生路径。万宁、莎莎 相继选择"离场"，屈臣氏的日子其实也不好过。根据其母公司长江和记的财报，屈臣氏中国区的业绩持 续承压，利润已连续多年下滑，门店数量已较巅峰期萎缩超过一成。 文 | 《BUG》栏目 徐苑蕾 近日，一则公告在中国零售市场激起千层浪。继莎莎国际（SaSa）退出后，另一港资零售品牌万宁 （Mannings）也正式宣布挥别内地市场。万宁进入内地20年，巅峰期门店数量一度突破200家，覆盖33 城。截至发稿，天眼查资料显示，其关联公司旗下仍存续门店仅剩13家。 清仓甩卖、货架空空……万宁闭店前夜，谁在抢购"最后的港妆"？ 现场：最后清仓，低折甩卖 "因公司业务战略调整需要，万宁中国内地所有线下门店及线上商城 ...