随着公告发布，意味着IDG资本已获得优诺中国业务的运营权，也标志着优诺中国八年三易主的故事翻 开新篇章。 再次易主 2019年，天图投资从通用磨坊手中，以近3亿元收购优诺中国，成为其首个全球品牌中国业务控股型并 购项目。 彼时，天图押注中国乳制品消费升级，将优诺定位"中高端酸奶标杆"，通过战略调整、渠道扩张和管理 赋能，将其从亏损边缘拉回盈利轨道。 数据显示，2023年，优诺中国营收为4.54亿元，净利润839万元，次年，公司营收跃升至8.1亿元，净利 润达9545万元，较2023年分别增长78%和1038%。 然而，天图却选择在业绩巅峰期退出。 天图投资解释称，首要因素是履行基金退出义务。 （作者｜周琦 编辑｜张广凯） 法国贵族酸奶正式完成易主。 2月24日，天图投资公告，已向昆山诺源睿源出售所持有的优诺中国全部股权，IDG资本作为买方的投 资者将获得优诺中国的运营控制权。 该交易总对价约为18亿元人民币（约合2.59亿美元），其中天图投资及其联属方获得总对价约为15.7亿 元人民币（约合2.26亿美元）。 一方面，是现制酸奶放低身价。 2025年年底，Blueglass断崖式降价。原价49元的"小蛮腰"系 ...

Core Viewpoint - Lululemon is undergoing significant changes, including the resignation of CEO Calvin McDonald, amid criticism regarding brand value erosion and declining stock performance [1][2]. Financial Performance - In the latest fiscal quarter ending November 2, 2025, Lululemon's net revenue in the Americas decreased by 2% to $1.7 billion, accounting for 68% of total revenue, with comparable sales down by 5% [3]. - Conversely, Lululemon's revenue in China grew by 46% to $465.4 million, representing 18% of total revenue, with comparable sales increasing by 24% (25% growth in constant dollars) [4]. - Other international markets saw a 19% increase in revenue to $367.2 million, making up 14% of total revenue, with comparable sales up by 9% [4]. Market Competition - The competitive landscape in China is challenging, with Li Ning experiencing a mid-single-digit decline in retail sales, while Nike's revenue in Greater China fell by 10% to approximately $1.512 billion [5]. - The potential impact of Lululemon's struggles in its home market on its performance in China is a point of concern [6]. Management and Strategy - Chip Wilson, the founder of Lululemon, expressed dissatisfaction with the board's support for McDonald, citing a 62.8% drop in LULU's stock value over the past two years and a lack of accountability for product innovation [2]. - Wilson emphasized the need for accelerated adjustments within the company to regain shareholder value [7].