李经纬凭借这一创意营销，开创了属于中国的体育营销先河，在那个年代，这样的商业操作无疑是开创性并极具前瞻性的。他将一个几乎无人知晓的小品牌 与国家荣誉、民族自豪感紧密相连，达到了惊人的营销效果。到了1997年，健力宝的年销售额突破50亿元，超过了可口可乐，成为无可争议的国民饮料。李 经纬不仅仅是一个商业天才，他也十分讲究义气与格局，尤其是在帮助李宁品牌崛起的过程中，更体现了他的眼光与胸怀。 1988年，李宁在汉城奥运会上因失误而受到重创，回国后几乎陷入了人生的低谷。全世界都在远离他，甚至有恶意的寄刀片事件发生。然而，就是在李宁人 生最为灰暗的时刻，李经纬站了出来。他不仅为李宁举办了一场盛大的退役晚会，还在1989年把李宁请到健力宝，担任了他的特别助理。 更为眼光独到的是，李经纬看到了李宁这个名字背后巨大的商业价值。他果断地排除了种种异议，成功说服了仍有些犹豫的李宁，利用健力宝的资源创办了 以李宁名字命名的运动品牌。1990年北京亚运会时，李宁品牌的运动服饰成为了火炬手的标配，李宁一夜之间家喻户晓，成为了中国体育用品的标杆。 谁能想到，这位曾将健力宝打造成中国魔水、为李宁品牌的崛起提供点拨，并巧妙地借助美国总统大 ...

Core Viewpoint - Lululemon is undergoing significant adjustments, highlighted by the resignation of CEO Calvin McDonald amid criticism from founder Chip Wilson regarding poor decision-making and a substantial decline in brand value and stock price [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% [2]. - Conversely, Lululemon's revenue in the Chinese market grew by 46% to $465.4 million, representing 18% of total revenue, with comparable sales increasing by 24% [3]. - Other international markets also saw a revenue increase of 19% to $367.2 million, making up 14% of total revenue, with comparable sales up by 9% [3]. Market Challenges - The competitive landscape in the Chinese market is intensifying, as evidenced by Li Ning's retail revenue experiencing a mid-single-digit decline, and Nike's revenue in Greater China dropping by 10% to approximately $1.512 billion [4]. - The struggles in Lululemon's core Americas market raise concerns about potential brand perception issues in China [5]. Management and Strategic Direction - Chip Wilson emphasizes the need for Lululemon to accelerate its adjustments to address the challenges it faces [6].

Core Insights - The article discusses the importance of both external cycles and internal organization in determining a company's success or failure during different market conditions [1][2][3] - It presents a four-quadrant model to categorize companies based on their organizational strength and market cycles, illustrating how these factors interact to shape business outcomes [3][4] Quadrant Analysis Quadrant 1: Upward Cycle + Organizational Evolution - Companies like Mixue Ice City and Pop Mart thrive during industry booms due to strategic accuracy and efficient execution, benefiting from favorable market conditions [6][7] - Mixue Ice City's success is attributed to its low-cost model and 100% self-sourced supply chain, achieving high gross and net profit margins in the new tea beverage sector [10][11][12] - Pop Mart capitalizes on global expansion and market adaptability, demonstrating a keen understanding of market dynamics despite periods of lower visibility [14][15][16] Quadrant 2: Downward Cycle + Organizational Evolution - Companies such as Bottle Planet and Midea exemplify resilience in challenging environments, adapting their strategies to align with market demands [17][18] - Bottle Planet, known for its brand Jiangxiaobai, pivoted to a "new liquor" strategy to counteract declining traditional liquor sales, leading to renewed growth [20][21][24] - Midea's transformation into a technology ecosystem company, driven by a focus on organizational strength over individual leadership, has resulted in significant market value growth [26][27] Quadrant 3: Upward Cycle + Organizational Degeneration - Wahaha and Li Ning illustrate how poor organizational management can squander opportunities during favorable market conditions [28][29] - Wahaha's leadership struggles have hindered its ability to capitalize on the bottled water market, while Li Ning's missteps in brand strategy have led to significant market value decline [30][34][35] Quadrant 4: Downward Cycle + Organizational Degeneration - Companies like Master Kong and Three Squirrels face compounded challenges from external market pressures and internal management issues [37][38] - Master Kong's sales have declined due to the rise of food delivery services, while its strategies have failed to adapt effectively to changing consumer preferences [39][41] - Three Squirrels struggles with maintaining quality and adapting to market changes, resulting in significant revenue losses and competitive disadvantages [43][44] Conclusion - The analysis emphasizes that while market cycles are constant, the organizational structure and adaptability of a company are crucial for long-term survival and success [45][46][47]

Core Viewpoint - The article emphasizes the importance of not only the changes in total consumption metrics but also the structural differentiation within the Chinese consumption market, highlighting both challenges and future potential for consumption growth [1] Group 1: Structural Differentiation in Consumption - Differentiation One: Improvement in goods consumption contrasted with a slowdown in service consumption, with goods retail sales growing by 4.8% year-on-year from January to August, significantly higher than the previous year's 3.2% [2] - Differentiation Two: High-end consumption is cooling while affordable consumption is gaining popularity, as evidenced by a nearly 20% decline in luxury car sales and a 5.4% revenue growth for Shanxi Fenjiu, a mid-range liquor brand [3] - Differentiation Three: The rise of domestic brands at the expense of imported goods, with local brands increasing their market share from 39% in 2012 to 76% by 2024 across various categories [4][5] Group 2: Regional and Group Consumption Trends - Differentiation Four: Consumption growth in first-tier cities is lagging behind that of lower-tier cities, with various factors contributing to this trend, including economic pressures and population changes [6] - Differentiation Five: Social group consumption is underperforming compared to individual consumer spending, with social group consumption growth lagging behind individual consumption since Q2 2023 [7] - Differentiation Six: Low-income groups are experiencing slower consumption growth compared to high-income groups, with the lowest income quintile showing only a 3.5% increase in disposable income [8] Group 3: Consumption Confidence and Policy Response - Differentiation Seven: While hard data on consumption shows recovery, consumer confidence remains low, with the consumer confidence index at 89.0, below the critical threshold of 90 for 28 consecutive months [9][10] - The policy response includes measures to stimulate consumption, such as expanding the scope of trade-in programs and increasing subsidies for service consumption, alongside long-term structural reforms aimed at enhancing consumer spending [11]