梦龙公司此次在三地同步挂牌，总股本6.12亿股，每股面值3.50欧元。这一资本动作的背后，是全球冰 淇淋业务在大型跨国集团体系内长期受限后的"解绑"需求。正如联合利华CEO费尔南多·费尔南德斯 （Fernando Fernandez）所言，分拆与上市是"最符合逻辑的结果"。 过去，在联合利华庞大的日化、家庭护理与食品矩阵中，冰淇淋业务因其独特的冷链依赖性、季节性波 动以及营销模式的特殊性，往往难以获得最优的资源配置。费尔南德斯直言不讳地指出，冰淇淋业务以 往的管理方式存在优化空间，其运营掌控力与啤酒或饮料企业相比仍有距离。这意味着，独立后的梦龙 公司将从原本大型母公司的"成本管理中心"，转型为具备高度灵活性和专业度的资本运营主体。 TMICC首席执行官Peter ter Kulve对此寄予厚望："作为一家独立上市公司，我们将比以往更加敏捷、更 具专注，也更加富有雄心。"这种"敏捷"在资本层面表现为融资通道的拓宽，而在商业层面则表现为 对"冷冻零食革命"的全力一击。 全食展创始人、中国副食流通协会休闲食品专业委员会执行会长王海宁分析指出，独立上市的核心意义 在于打破发展束缚。冰淇淋正从防暑降温的刚需向零食化、甜 ...

今年，食品饮料行业的收并购事件频频发生，星巴克中国易主博裕，可口可乐在评估剥离Costa咖啡业务，雀巢也传出想出售蓝瓶咖啡（Blue Bottle Coffee）。 其中，不少资产出售价格远低于买入价，出现明显的价格缩水： 雀巢2017年以约7亿美元估值收购蓝瓶咖啡68%股权，如今传出以低于7亿美元的价格出售（只卖门店、保留品牌）。 可口可乐2018年以39亿英镑（约合51亿美元）收购Costa咖啡，如今也被曝考虑大幅折价出售，交易价格相较购入价已明显缩水。 这些曾经代表了精品、高端化的生活方式品牌，如今却成为了"包袱"，在资产负债表上成为累赘。 这篇内容，我们尝试讨论三个问题： 一、为什么剥离的往往都是实体门店业务 相比快消行业，线下实体零售生意更非标、不容易复制，也面临更高的管理难度。 先回答一个问题，快消品行业和实体门店业务有什么不同？ 更重要的是，在快消品巨头的业务结构下，实体门店业务很难成为战略级业务，很难获得足够多的资金和资源投入到门店扩张中，所以逐渐在市场竞争中 缺失竞争力，进而成为边缘化业务，到了被甩卖的境地。 快消行业提供的是产品，实体门店提供的是产品+服务+空间，不同的行业需要的能力不同。 ...

New Product Launches - Rabit and Thermos have launched a limited edition thermos cup, claiming high aesthetic value and long-lasting insulation [4][7] - Nestlé and 7-ELEVEN have introduced a new collaboration featuring wafer chocolate crisps and chocolate-flavored sauce, suitable for baking and desserts [4][7] - Peet's Coffee has partnered with SALOMON to release new products including black chocolate mocha and hot cocoa, using single-origin 56% dark chocolate [4][7] - Mondelēz has launched Oreo Zero Sugar in the US, utilizing a new sweetener blend to maintain the classic flavor [4][10] - Starbucks China has unveiled a Harry Potter-themed winter celebration series, offering three new drinks with exclusive merchandise [4][10] - Jollybaby has introduced a sound effect boxing puppet designed for hand-eye coordination training [4][10] - Balabala has launched a black label goose down product, emphasizing high cleanliness and safety standards [4][12] - Guozi Shule has released two new fruit tea beverages, both with zero sugar, fat, and calories [4][14] Industry Events - PepsiCo announced a series of business adjustments, including cost-cutting measures and a reduction of product varieties in the US market by nearly 20% [15][16] - BabyTree has upgraded its brand strategy to become an AI-driven platform for maternal and child care [15][16] - Douyin has become the official content platform for the CBA, set to live stream selected matches starting December 12 [15][16] - Huijie Co. has decided to cease operations of its North American sub-brand under stance due to tariff policy uncertainties [15][16] - The Pulse Rebirth Rest Station has been established in Shenzhen, constructed from approximately 6,000 Pulse bottles and over 90,000 caps to promote environmental sustainability [15][17] Investment Trends - Curative, a US healthcare company, completed a $150 million Series B funding round led by TED chairman Chris Anderson's fund [22][23] - Tetra Pak has acquired Bioreactors.net, a company specializing in bioreactor systems for new food sectors [22][23] - Ripple Foods, a US plant-based beverage brand, raised $17 million to support product line expansion [22][24] - Luming Robotics secured several hundred million RMB in Pre-A funding to enhance its embodied intelligence technology [22][24] - Changyao Innovation announced a successful A-round financing of several tens of millions RMB [22][24] Food Industry Developments - War Horse has launched a revamped energy drink series, including six new sugar-free fruit-flavored options [27] - Milbio introduced a bread premix powder made from high-quality fibers and sprouted grains [27] - Salted Fish has appointed Wang Yibo as the global ambassador for its brand "Big Demon King" to enhance market visibility [27] - JD's Seven Fresh Coffee has opened a new store in Beijing, marking a strategic partnership with a hotel group [27] Beauty Industry Updates - MUSINSA's self-owned brand Musinsa Standard will open its first store in China on December 14 [32] - GANNI and Barbour have launched their fourth collaborative collection, focusing on contemporary and feminine designs [32] - JD's AI plush toys sold out quickly upon launch, emphasizing the trend towards interactive, non-screen-based toys for children [32] - French luxury leather brand Polène has opened its first flagship store in China, located in Beijing [35][36]

Group 1: Yonghui Supermarket - Yonghui Supermarket's stock price surged by 41.22% over four days, with three days hitting the daily limit [3] - Following the surge, the stock price fell to 5 yuan per share, but still recorded a weekly increase of 27.23%, marking the largest weekly gain of the year [3] - The company reported a revenue of 42.434 billion yuan for the first three quarters of 2025, a year-on-year decline of 22.21%, and a net loss of 710 million yuan, attributed to store adjustment plans affecting revenue and gross margin [4] - Major shareholders, including the chairman, reduced their holdings, with a total of 90.75 million shares sold for approximately 377 million yuan [4] Group 2: Dream Ice Cream Company - Dream Ice Cream Company went public on December 8, with a total share capital of 612 million shares, achieving a market capitalization of 78 billion euros (approximately 642 billion yuan) on its listing day [5] - The company reported projected sales of 7.9 billion euros for 2024, holding a global market share of 21%, significantly higher than its closest competitor [5] - The company is expected to localize its products, channels, and marketing strategies in the Chinese market following its split from Unilever [7] Group 3: Laopuhuang Gold - Laopuhuang Gold's revenue is projected to surpass that of Richemont's jewelry business in China by 2025, with a significant increase in market share attributed to its successful product offerings [8] - The brand's average sales per store reached 459 million yuan in the first half of 2025, outperforming all domestic and international jewelry brands [8] - The rise of Laopuhuang Gold has drawn international attention, with Richemont acknowledging the competitive landscape and the cultural significance of the brand in China [9] Group 4: Lululemon - Lululemon reported a 46% year-on-year increase in net revenue in mainland China for the third quarter of fiscal year 2025 [11] - The company plans to open approximately 46 new stores in China this year, with a focus on expanding in second and third-tier cities [11] - Despite a decline in revenue in the Americas, the Chinese market accounted for 18% of total revenue, indicating strong growth potential [11] Group 5: Tims China - Tims China reported total revenue of 358 million yuan for the third quarter of 2025, a slight decline of 0.4% year-on-year, while system sales increased by 12.8% [23] - The number of stores reached 1,030, with 15 new stores added during the quarter, expanding its presence in second and third-tier cities [23]

"全球最大的冰淇淋公司"在资本市场正式亮相。 当地时间12月8日，梦龙冰淇淋公司（The Magnum Ice Cream Company）完成从消费品巨头联合利华的分拆，成功在阿姆斯特丹、伦敦和纽约三地同步上 市。 上市首日，梦龙市值高达78亿欧元，约合人民币642亿元，被外界视为今年泛欧交易所规模最大的上市项目。这一数字对应着其2024年约79亿欧元（约合人 民币650亿）的营收，展现了其在全球冰淇淋市场约21%份额的庞大体量。 然而，这位刚刚披上独立战甲的"冰淇淋之王"，在它全球版图中本应闪闪发光的中国市场，却发现自己正被浓雾笼罩，影响力大不如前。 回顾历史，梦龙曾是高端冰淇淋的代名词，早在1993年便以7元一根的价格高调进入中国，并通过免费投放带有品牌标志的红色冰柜、打造独特的夏日消费 场景，迅速在一二线城市站稳了脚跟。可以说，它和旗下的可爱多、和路雪等品牌，是一代中国消费者的集体记忆。 三十年河东，三十年河西。如今，这个曾经的市场拓荒者面临严峻挑战。官方数据显示，在中国，排名第一的冰淇淋公司是伊利。虽然按零售额计算，梦龙 仍然是中国市场第二大冰淇淋企业，旗下的可爱多和梦龙品牌分别位列第四和第五，但其 ...

全球冰淇淋市场迎来了一个里程碑时刻——占据最大市场份额的梦龙冰淇淋公司(The Magnum Ice Cream Company N.V.，以下或简称梦龙)正式在三地实现上市。 12月8日，梦龙冰淇淋公司正式宣布在阿姆斯特丹、伦敦和纽约三地证券交易所上市。上市首日，梦龙 在阿姆斯特丹证券交易所的收盘价为每股12.97欧元，涨6.31%，总市值约为79.41亿欧元(约合653亿元人 民币)，在纽交所的收盘价为每股14.92美元，涨2.19%，在伦敦交易所的收盘价为每股11.22英镑，涨 2.04%。 市值超640亿元、年营收规模接近80亿欧元，梦龙这一冰淇淋领域的巨无霸，掀开了新的发展篇章。 回顾联合利华冰淇淋业务的发展历程，可追溯到1913年。 彼时，一位屠夫为改善香肠销量在夏天下滑的情况，决定拓展冰淇淋销售业务，但想法因战争被搁置。 1922年，利华兄弟公司收购了该企业，随着来自美国的大型商用冰柜开始批量涌入，Wall's(和路雪)冰 淇淋品牌诞生。 由此看来，梦龙冰淇淋公司实际上是一家发展已有百年的企业。根据梦龙冰淇淋公司招股书，按照2024 年销售额计算，该公司在全球冰淇淋市场占据21%的市场份额，位居 ...

本报（chinatimes.net.cn）记者方凤娇 上海报道 告别联合利华"单飞"将近一年之后，全球市占率第一的冰淇淋巨头梦龙冰淇淋如期上市了。市值在640 亿元人民币以上，2024年营收接近80亿欧元，从独立到上市，梦龙将在一定程度上重塑全球冰淇淋市场 格局。 餐宝典研究院院长、餐饮分析师汪洪栋对《华夏时报》记者表示，梦龙独立上市后，公司资金会更充 裕，这或将加速其在全球市场的扩张，在营销、产品以及资本运作等方面加大投入，进一步加剧市场竞 争。同时，决策链条将进一步缩短，拥有更大的自主性，能更灵活地应对区域市场的竞争，比如推出一 些针对性的产品或者营销策略，以便能进一步融入本地市场。 但不容忽视的是，中国市场始终是梦龙战略布局里的"核心高地"，但中国市场竞争激烈，面对现制冰淇 淋与新茶饮跨界玩家不断挤压市场空间，梦龙也面临挑战。 梦龙"单飞"上市 12月8日，梦龙冰淇淋公司正式宣布在阿姆斯特丹、伦敦与纽约三地上市，公司总股本6.12亿股，成为 全球少数选择多地挂牌的消费品公司之一。这也意味着，联合利华的冰淇淋业务拆分终于画上句号。 "作为联合利华家族的一部分，我们成为全球冰淇淋的领导者。现在，作为一家独立 ...

Core Insights - The two major beauty groups, L'Oréal and Unilever, are pursuing different strategies, with L'Oréal focusing on acquisitions while Unilever is divesting non-core assets [2][4]. Group 1: L'Oréal's Acquisition Strategy - L'Oréal announced the acquisition of an additional 10% stake in Galderma, increasing its ownership from 10% to 20%, with plans to explore further scientific research projects together [1][2]. - The acquisition is part of L'Oréal's ambition to enter the rapidly growing medical aesthetics market, alongside its investments in high-end and clean beauty segments [2][3]. - In October, L'Oréal spent €4 billion to acquire beauty licenses from Kering Group, indicating a strong partnership and capability to enhance luxury brands [3]. - L'Oréal's investments in China include a stake in Naturgy and further investments in local skincare brands, reflecting its strategy to accelerate brand innovation and consumer attraction [3]. Group 2: Unilever's Divestment Strategy - Unilever is undergoing a restructuring process to focus on core businesses, highlighted by the planned spin-off of its ice cream division, expected to be completed by Q4 2025 [1][5]. - The CEO of Unilever emphasized that the spin-off will create a more streamlined company, concentrating on beauty, health, and personal care sectors for higher profit margins [5]. - Unilever's recent quarterly performance showed improvement after excluding the ice cream business, indicating a positive trend in its core operations [5]. Group 3: Industry Trends and Brand Matrix - The contrasting strategies of L'Oréal and Unilever reflect a broader industry trend where companies are either expanding their brand portfolios or optimizing them by shedding non-core assets [6][7]. - The ideal brand matrix should exhibit strategic synergy, growth gradient, and profit orientation, allowing companies to withstand market fluctuations [7].

Core Viewpoint - Unilever has officially completed the spin-off of its ice cream business, establishing The Magnum Ice Cream Company, which has been listed in Amsterdam, aiming to streamline operations and focus on core business areas to boost performance growth [1][6]. Group 1: Business Performance and Strategy - The ice cream division of Unilever has seen an average annual sales growth of less than 3% over the past two years, significantly lagging behind the beauty and health division, which has grown by over 7% during the same period [3]. - The ice cream business accounts for approximately 16% of Unilever's total sales, which has been a drag on overall performance, especially as the company has prioritized faster-growing categories like beauty and personal care [3][4]. - The operational model of the ice cream segment, characterized by cold chain logistics, seasonality, and capital intensity, has made it difficult to achieve synergies with Unilever's other core businesses [3][4]. - The spin-off aligns with Unilever's strategic shift towards a "leaner" business model, responding to shareholder demands for simplification and efficiency following a failed acquisition attempt in 2022 [4][5]. Group 2: Spin-off Details and Market Position - The spin-off process has been in the works for some time, with the ice cream division restructured into an independent entity and officially completing the transaction on December 6, 2023, followed by its market debut on December 8, 2023 [6][8]. - The spin-off was executed through a demerger, allowing existing Unilever shareholders to receive shares in the new company without issuing new stock, indicating Unilever's intention not to invest further capital into the ice cream business [8]. - The Magnum Ice Cream Company is positioned as the world's largest pure ice cream enterprise, operating in 80 countries with a significant cold chain asset base, including nearly 3 million freezers [8][9]. - The initial valuation of the new company is estimated to be between €14 billion and €15 billion, with an expected EBITDA margin of around 16% for 2024, reflecting a conservative valuation compared to other leading snack companies [8][9]. Group 3: Market Challenges and Future Outlook - The launch of The Magnum Ice Cream Company coincides with a growing trend towards healthier eating, which poses challenges for the ice cream industry, particularly with the rise of weight-loss drugs that may impact demand for high-calorie snacks [11][13]. - Despite these challenges, there is cautious optimism among investors regarding the new stock, as the spin-off allows the company to focus on its core ice cream business, which is often seen as a value-releasing opportunity [13][14]. - The new company plans to implement cost-cutting measures and innovate product offerings to adapt to changing consumer preferences, including marketing ice cream as a lower-calorie option and expanding into high-protein categories [14].

来源：时代周报-时代在线 12月8日，梦龙冰淇淋公司（The Magnum Ice Cream Company N.V.，下称"梦龙公司"）在阿姆斯特丹、 伦敦与纽约三地上市，成为全球最大的冰淇淋IPO。 图源：网络 上市当日，公司市值达78亿欧元（约合人民币642亿元）。作为从联合利华拆分而来的独立主体，梦龙 拥有全球5大冰淇淋品牌中的4大品牌，包括和路雪、可爱多、梦龙和Ben&Jerry's，堪称冰淇淋行业 的"豪门新贵"。 此次独立上市，不仅是梦龙发展历程的重要节点，也再次将高端雪糕赛道的竞争格局推向公众视野。承 载着一代人情怀的梦龙，能否在争议与挑战中站稳中国高端雪糕市场？ 全球冰淇淋零售市占率21% 此前，梦龙公司的业务归属于联合利华集团。2024年，为简化公司结构、重振增长，联合利华集团决定 拆分包含梦龙、和路雪和可爱多等品牌在内的冰淇淋业务；2025年7月，业务分拆完成，梦龙公司作为 联合利华集团内的一家独立公司开展运营。 此次分拆诞生了一家"冰淇淋巨头"。据联合利华披露的投资者文件，2024年，冰淇淋业务的收入达到79 亿欧元（约合人民币666亿元），调整后EBITDA（注：税息折旧及摊销前的 ...