中资出手。 投资界（PEdaily.cn）旗下，专注并购动态 欢迎加入投资界读者群 「并购最前线」系投资界旗下专注并购动态报道公众号，欢迎关注！ 以下文章来源于并购最前线 ，作者杨继云 并购最前线 . 作者 I 杨继云 报道 I 投资界-并购最前线 Swe a t y Be tt y创立于1 9 9 8年的英国伦敦，专注于契合女性需求的运动服饰，用鲜亮的花 色赋予女性健身时尚感，定位高端女性运动服饰。Swe a t y Be tt y的产品主打修身剪裁与 英伦风格，定价区间为480至1180元人民币。 就在Swe a t y Be tt y创办的同一年，它日后的对手l u l ul emo n也在加拿大温哥华起步，最初 白天是设计工作室，晚上作为瑜伽工作室，后在2000年成为独立店铺。 两 个 瑜 伽 服 品 牌 走 出 了 不 同 命 运 。 尽 管 Swe a t y Be tt y 曾 被 誉 为 是 " 更 时 尚 的 瑜 伽 裤 品 牌"，但它仅在英美市场具备一定认知度，并未像l ul ul emo n一般火遍全球。l ul ul emon在 20 13年进入中国市场，相比之下Swe a t y B ...

在特朗普发起的这轮关税战中，法国显然是欧盟中表现得最为强硬的国家。马克龙坚定主张对美国不做任何妥协。在美国加征关税后，法国的空客公司面临 飞机出口受限的困境，而法国农产品在美国市场的份额也遭到了猛烈挤压，造成了严重的经济影响。特别是法国的葡萄酒行业，在高关税影响下出口数量急 剧减少，许多酒庄因此陷入销售危机，收入大幅下降，农民及相关从业者的生活更是受到威胁。在全球经济日益一体化的背景之下，法国产业严重依赖国际 市场，一旦美国的高关税政策延续，法国的经济将难以抵御这种冲击，这也是马克龙高声表达"反抗"立场的重要原因之一。 此外，法国政府的举动也让企业感到不安。毕竟，法国的葡萄酒、化妆品和奢侈品在中国市场上拥有数量庞大的消费者，加征关税可能会严重阻碍出口，导 致企业营收锐减。这一政策的实施还可能破坏中欧之间的合作氛围，影响欧盟对华政策的整体走向，削弱双方的信任。如果法国财政部长为了维持国内产业 集团的支持、巩固执政联盟，迎合这些势力的诉求，选择加大对中国的威胁，那么他们就应当做好可能因中国的反制措施而"失去利益"的成本评估。总而言 之，中国不会对这种行为视而不见，马克龙无论如何变化，最终的决策和实际行动才是最重要 ...

Core Insights - The 2025 e-commerce mid-year promotion has set a new record in consumer spending, showcasing a significant increase in sales across various platforms [1][3] - Major e-commerce platforms, including traditional giants like Taobao and JD, as well as emerging players like Pinduoduo and Douyin, have all reported substantial revenue growth during this event [3] - The rise of live-streaming sales has transformed the shopping experience, with influencers achieving impressive sales figures, indicating a shift in consumer purchasing behavior [3] E-commerce Performance - The overall consumption scale during the promotion reached historical highs, with platforms experiencing explosive growth in sales figures [3] - Cross-border e-commerce has also seen a remarkable increase in order volume, reflecting consumers' eagerness to purchase international products from the comfort of their homes [3] Consumer Behavior - The promotion's success is attributed to improved consumer purchasing power, as individuals are willing to spend on both essential and luxury items [3] - The efficiency of logistics has enhanced the shopping experience, with rapid delivery times contributing to consumer satisfaction [3] Marketing Strategies - E-commerce platforms employed various promotional tactics, such as discounts and bundled offers, to attract consumers, demonstrating the effectiveness of these marketing strategies [3] - Despite some consumers expressing concerns about overspending, the overall sentiment remains positive, highlighting the appeal of these promotional events [3] Market Dynamics - The vibrant performance of the e-commerce sector during the promotion reflects the resilience and dynamism of the consumer market, indicating a strong demand for quality products [3] - The event not only benefited businesses but also provided consumers with a satisfying shopping experience, showcasing a win-win scenario for both parties [3]

金十数据7月2日讯，意大利主要商业游说团体的负责人周三表示，如果美国对所有欧洲产品征收10%的 关税，意大利明年可能会损失200亿欧元（合236亿美元）的出口和11.8万个工作岗位。意大利工业联合 会主席Emanuele Orsini在接受采访时表示："意大利不仅出口奢侈品（需求对价格不太敏感），而且主 要出口机械、交通工具和皮革制品。"意大利总理梅洛尼最近淡化了这种关税水平对意大利公司的潜在 影响，称这不会造成特别大的伤害。但Orsini警告说，10%的关税对意大利经济来说是不可持续的。 美国关税或令意大利出口损失200亿欧元 ...

欧盟委员会主席冯德莱恩的幕僚长塞伯特证实，布鲁塞尔正酝酿对价值950亿欧元美国商品加征关税，同 时在数字税、公共采购领域实施限制措施。作为反制前奏，欧盟虽将原定210亿欧元规模的报复性关税推 迟至7月14日实施，但已批准对美国煤炭、农产品、化工产品等关键行业实施精准打击。 贸易争端早已超越传统商品范畴，蔓延至科技与金融战场。美国司法部以"数据安全"为由调查欧洲金融机 构，五角大楼则暂停了与德国军工企业的联合研发项目。作为反击，欧盟数字事务专员维斯塔格透露，布 鲁塞尔正制定针对谷歌、亚马逊的数字税方案，预计每年可增加28亿欧元财政收入。 关税的实际伤害已在欧洲工厂显现。德国工业联合会最新报告指出，美国政策导致欧盟钢铁产能利用率下 降18%，汽车出口额同比缩减23亿欧元。慕尼黑经济研究所的测算描绘了更严峻的前景：若贸易战全面爆 发，欧美GDP增速将分别下滑0.8和1.2个百分点。这种经济代价迫使欧洲企业做出防御性调整——过去半 年，超过25%的荷兰投资者因美国政策不可预测性减持美股。 正值跨大西洋关系紧绷之际，中国外交部长王毅的欧洲行程引发全球关注。根据中方外交部公布日程，6 月30日至7月6日，王毅将先后访问布 ...

Group 1 - The article discusses the impending deadline for trade agreements, with a total trade value of €380 billion hanging in the balance due to potential tariffs imposed by the U.S. [1][5] - The U.S. is using a strategy of divide and conquer, pressuring countries to sign agreements quickly to avoid high tariffs, which could range from 25% to 50% [5][7] - Countries like Germany, France, and Japan are feeling the pressure, with Japan reconsidering its stance on tariffs and discussing "non-core concessions" [7][39] Group 2 - The article highlights the "poison pill" clauses in trade agreements, such as the U.K.-U.S. temporary trade arrangement, which includes restrictions on re-exporting Chinese goods [9][11] - The U.S. is encouraging other nations to adopt similar restrictive measures, particularly regarding "origin rules" that would limit Chinese manufacturing [13][18] - India's negotiations show signs of concessions on key issues, raising concerns about its alignment with U.S. strategies [15][41] Group 3 - China has firmly stated its opposition to sacrificing its interests for U.S. tariff reductions, indicating a strong stance against external pressures [20][22] - The article emphasizes China's significant trade relationships, with over $800 billion in trade with the EU and a 24% trade dependency with Japan, giving it leverage in negotiations [25][27] - Recent talks between the U.S. and China have shown some progress, suggesting that both sides are cautious about escalating tensions further [27][29] Group 4 - The article discusses the internal divisions within the EU, with countries like France advocating for strong resistance against U.S. pressures, while Germany seeks stability and is more willing to compromise [33][35] - Japan's potential cooperation with the U.S. in critical resource areas could significantly impact China's interests, especially in rare earths and key minerals [39][18] - The article warns that if global supply chains are disrupted, emerging economies could see GDP growth decline by 0.7% to 1.3%, leading to significant economic losses [45]

据了解，唯品会正在着力探索AI的应用与实践，自研的"朝彻"大模型已全面应用于平台海量商品介绍资 料的智能化生成，提升用户购物体验。2025年一季度，唯品会通过搭建AI创意营销平台、AI智能体平 台及商品数据治理系统，进一步深化"朝彻"大模型的应用，持续赋能品牌合作伙伴，并提升平台运营效 率。此外，今年唯品会还将在AI应用创新领域积极探索，着力提升消费者的购物体验。 （文章来源：新华财经） "质价比的核心是，消费者追求高性价比，同时也不愿意牺牲商品的品质，低价高质是目标。从国外的 情况看，在零售行业发展相对成熟的情况下，美国的TJmaxx、日本的唐吉诃德等折扣零售企业，其增 长速度要比传统零售业更快，且无论外界环境是顺境还是逆境，都显示出了很强的发展韧性。这样的发 展趋势也可能会在我国出现。"唯品会相关负责人说。 上述负责人表示，在质价比的消费趋势下，折扣奢侈品受关注度明显提升，唯品会也在发力奢侈品特 卖，一方面，希望满足高端消费市场里的新消费需求；另一方面，是因为奢侈品特卖是个系统性的工 程，而唯品会有能力实现。唯品会有遍布全球的买手，可以在全球范围内搜寻品牌授权但价格最低商 品，同时，平台还结合各种政策直接 ...

没想到，中国冥币在全世界"杀疯了"。 据《凤凰网》6月21日报道，2024年万圣节，一位中国小姐姐在热闹的法国街头支了一个售卖冥币的摊位，结果引起老外围观，掏钱购买的顾客络绎不绝。 n " b 老外们看着摊位上印着 "天地银行" 和玉皇大帝的冥币好奇心爆棚，摊位上纸扎的手机、奢侈品包包更是吸睛利器，路人纷纷询问价格，一时间成交量激 增。 这位小姐姐售卖冥币的视频，也在海外社媒上成了爆款，老外们对这种来自东方的"神秘礼盒"毫无抵抗力，他们主动查询资料，翻看国人对冥币含义的讲解 视频，竟然衍生出了一套自己的冥币认知。 咱们用来寄托哀思的冥币，在他们眼中却成为"转运""祈福"的神秘学，关于冥币的爆款视频留言区中，充满了"烧完冥币后中了彩票"、"烧完后收到了经济 救助""烧完后成功找到工作"等评论。 . 有外国博主专门制作了详细的"烧冥币教程"，在YouTube上播放量超10亿，还有博主将"塔罗牌"与"冥币"进行结合，形成了具有当地特色的烧纸仪式。而纽 约华人区的冥币店已经成为 "网红打卡点"，老外们一边买纸扎一边研究 "中国生死哲学"。 在国外购物网站亚马逊上，200张一捆的冥币，售价高达7至20美元，是国内价格的 ...

| | 观点行业发展指数 | | --- | --- | | | 6月商业地产零售业态运营商表现 | | 序号 | ग्रहना | | 1 | 华润万象生活 | | 2 | 龙湖集团 | | | 恒隆地产 | | 4 | 九龙仓 | | 5 | 太古地产 | | | 凯德投资 | | 7 | 印力集团 | | 8 | 新世界中国 | | | 新鸿基地产 | | S 10 | 中粮大悦城 | | 11 | 新城商业 | | 12 | 领展 | | 13 | 百联股份 | | 14 | 招商商管 | | । ਟ | 首创矩大 | 观点指数 消费促进政策密集落地，免税经济全国化提速 一二线城市密集出台消费促进政策，与此同时，免税市场加速全国化落地，如武汉、广州、北京有 新店开出。在政策的驱动下，消费回流与入境旅游明显提升。大宗交易方面，受累于现金流压力，专业资本接盘存量商业成为了主流趋势。 港资内地项目表现不一，新项目以差异化抢占市场港资代表领展的内地业务表现亮眼，但项目表现两极分化，上海七宝领展广场、深圳领展中心城等实现高 增长，而北京中关村续租租金表现不如预期，老旧项目仍需进行持续的资本投入以维持竞争力。 体 ...

Core Insights - The retail landscape in Hong Kong is undergoing significant changes, with a high vacancy rate in core commercial areas indicating ongoing challenges for the sector [2][3] - Despite the difficulties, there are signs of potential recovery and adaptation within the market, as evidenced by the rise of new retail formats and the entry of international brands [6][9] Retail Performance - In Q1 2024, the total retail sales value in Hong Kong is projected to be HKD 376.8 billion, reflecting a year-on-year decline of 7.3%, highlighting the ongoing struggles of traditional retail [3] - The vacancy rate in the four core shopping districts reached 12.1%, the highest in nearly four and a half years, with over 60% of vacant shops unoccupied for at least six months [3][4] Market Dynamics - The rise of e-commerce, particularly from mainland China, has led to increased competition for traditional retailers, resulting in a shift towards smaller, more flexible retail spaces and short-term leasing options [4][6] - New retail formats, such as capsule toy stores and pop-up shops, are gaining traction due to lower costs and higher returns, indicating a shift in consumer preferences [8] Consumer Behavior - The increase in visitor numbers to Hong Kong, projected to reach 44.5 million in 2024, is expected to support certain retail sectors, particularly those catering to tourists [5] - Research indicates that frequent travelers from Hong Kong continue to spend significantly in local retail and dining, suggesting that local consumption is not being entirely displaced by cross-border shopping [5] Future Outlook - The decline in rental prices is attracting various international brands to establish a presence in Hong Kong, suggesting a potential revitalization of the retail market [6] - The ongoing adjustments in the retail landscape reflect a broader trend towards experiential shopping and a focus on meeting the evolving demands of consumers [9]