Core Insights - The article discusses a recurring business phenomenon where once-prominent international brands like FILA, Arc'teryx, Volvo, and Wirtgen experience decline in their home markets, leading to low-cost acquisitions by Chinese companies such as Anta, Geely, and China Railway, which then revitalize these brands, resulting in soaring sales and market value [1][2][3] Group 1: Acquisition Stories - Anta acquired FILA's China business for approximately HKD 600 million in 2009, transforming it from a loss-making brand to a profit generator with annual revenue exceeding CNY 20 billion and over 2,000 stores [2] - Geely's acquisition of Volvo for USD 1.8 billion in 2010 led to a tenfold increase in its market value, with sales rising from 450,000 to 700,000 vehicles, significantly driven by the Chinese market [2] - China Railway's low-cost acquisition of Wirtgen's technology allowed it to become a global leader in the shield tunneling machine market, showcasing a shift from a technology follower to a leader [2][3] Group 2: Decline of International Brands - International brands like Volvo, FILA, Arc'teryx, and Wirtgen face structural decline due to reduced demand in the aging and conservative European and American markets, leading to a loss of growth potential [3][5] - The financial crisis of 2008 severely impacted Volvo's sales, while FILA struggled with limited channels and a shrinking consumer base in Europe [3][5] Group 3: Revitalization in China - The Chinese market is characterized as a unique "amplifier" for international brands, with a large and expanding middle class driving demand for quality and brand [5][6] - China's superior channel capabilities and retail networks, along with the rise of e-commerce platforms, enable brands to reach broader consumer bases [5][6] - The complete industrial chain and cost efficiency in China facilitate the rebirth of these brands, allowing for significant reductions in production costs and increased profit margins [5][6] Group 4: Growth Mechanism - The success of these acquisitions is attributed to the ability of Chinese companies to effectively reposition and operate the acquired brands, transforming them to meet new market demands [7][8] - The growth strategy involves redefining brand positioning, expanding product lines, and leveraging China's manufacturing advantages to reduce costs [8][9] - Chinese companies excel in utilizing modern marketing strategies, such as social media and live streaming, to enhance brand visibility and consumer engagement [9] Group 5: Future Trends - The article predicts that the trend of "snake swallowing elephant" acquisitions will continue, driven by the structural shifts in global economic power and the rebalancing of brand value chains [10][11] - The future will see Chinese companies acting as accelerators for global brand growth, moving beyond mere acquisitions to comprehensive brand revitalization [12][13]

长江商报消息 ●长江商报记者 沈右荣 从亚玛芬到狼爪，安踏体育（02020.HK，下称"安踏"）启动新一轮品牌收购，全球化战略再下一城。 34年前，丁世忠从福建晋江出发，带着安踏，走向全国，踏入全球。当初的渔村小作坊，如今已成长为资产超千 亿、位居全球前列的体育用品集团。 丁世忠及安踏靠什么获得巨大成功？除了家族内部团结一心外，收购、品牌及营销，可能是丁世忠成功的秘籍。 始祖鸟、萨洛蒙、威尔胜……借助车轮式并购，丁世忠将一个个国际大品牌收入囊中。 不过，热衷并购、营销，丁世忠在研发上的投入相对不足。2024年，安踏销售费256亿元，研发费20亿元，二者相 差12倍。 在全球市场与阿迪达斯、耐克尚有一定差距，走过了34个春秋的安踏，能成为百年大厂吗？ 1999年，丁世忠出任安踏总经理，他做出了安踏30年发展史上的一次重大战略决策——80万元请乒乓球运动员孔 令辉代言，又花300万元在央视做广告，相当于将一年的利润全部花在了营销上。 那个时代，只有耐克、阿迪达斯等国际顶级运动品牌才有明星代言人。丁世忠力排众议，他坚信，安踏要打响品 牌，就必须有自己的代言人。 从渔村少年到千亿富豪 丁世忠及安踏的成长，充满着传奇色 ...