作为曾风靡一时的韩妆代表品牌之一，蒂佳婷也要被出售？近日，有消息称，雅诗兰黛集团正考虑出售 旗下韩妆品牌蒂佳婷，随即引发市场关注。对此，北京商报记者向雅诗兰黛方面进行求证，但截至发稿 未收到回应。 值得注意的是，在蒂佳婷之前，同属雅诗兰黛集团的Too Faced、Smashbox等品牌也相继传出将被出售 的消息。与本次一样，雅诗兰黛对于市场消息均保持不回应的态度，但在业界看来，上述消息的传出并 非空穴来风。在面临业绩下滑和愈发激烈的市场竞争时，对于雅诗兰黛来说，走下坡路的品牌似乎已无 继续持有的必要，将有限的资源用来支持、投资更具增长潜力的品牌，或许是更好的选择。 细分来看，2025年雅诗兰黛多业务部门收入下滑。其中，皮肤护理业务和头皮护理业务收入较上年同期 分别下滑12%和10%；彩妆业务收入下跌6%。从营业利润来看，彩妆、香水、头皮护理业务均陷入亏 损，其中彩妆和香水业务更是由盈转亏。而盈利的皮肤护理业务，营业利润同比下滑22%。与此同时， 雅诗兰黛在财报提及Estée Lauder和La Mer两大核心品牌的下滑拖累了业绩。 2024财年的雅诗兰黛同样不乐观。这一年，雅诗兰黛净销售额下滑2%至156.1 ...

蒂佳婷"失宠" 蒂佳婷成立于2004年的韩国首尔，早期凭借"医美后可用"的定位和创新产品迅速走红市场。2008年，蒂佳婷在纽约开设首家精品店，开启国际化布局。2011 年，蒂佳婷通过与丝芙兰的合作正式进入美国市场，初期仅于10家门店销售两款BB霜，随后迅速扩展至全球丝芙兰渠道，销售约50款产品。2013年，蒂佳 婷品牌进入中国市场，入驻丝芙兰门店及官网；2024年正式入驻屈臣氏。彼时，正是韩剧、韩妆风靡的时代，蒂佳婷也乘着这股热潮在此后的多年里创造了 属于自己的辉煌。 雅诗兰黛与蒂佳婷的结缘在2015年。这一年，雅诗兰黛收购蒂佳婷母公司Have & Be约三分之一的股份。根据公开数据，此时蒂佳婷年度销售额为863亿韩 元。此后蒂佳婷进入快速增长期，至2018年，其年度销售额已增长至4898亿韩元，较三年前提升超过5倍。基于蒂佳婷的高速增长，2019年，雅诗兰黛集团 以约11亿美元收购Have & Be剩余股份，实现对蒂佳婷的全资控股。根据公开数据，2019年"双11"，蒂佳婷曾单店销售额突破1亿元，成功进入天猫"双 11"的"亿元俱乐部"。2020财年上半年拉动约1%的净销售额增长。在当时，对于雅诗兰黛而言， ...

转自：喵大白话 你看看大家都看看 喵随便找来了几张 这合理吗哈哈哈！！！ Paris 미인아 (Bonamana) (美人啊 SUPER JUNIOR (슈퍼주니어) 制作团队 보나마나 나 밖에 없다 横掂都系 净系得我 난 드뎌 미칠거야 我顶唔顺要发癫 폭발해 버림 喵单方面宣布 开发四川话版本的程序员 也是个天才！太可爱了哈哈哈！！ Taylor Swift Some wannabe Z-lister 扮晒明星嘅三线咖 And all the outfits were terrible 啲衫着到核突到爆 2 公众号· 喵大白话 & 公众号 · 晴大白话 MEGAVERSE Stray Kids (스트레이 키즈) 制作团队 > Welcome to the Stray Kids HOT MEGAVERSE 欢迎来到街娃儿崽崽嗽火爆宇宙 STRAY KIDS C 公众号 · 喵大白话 GOING CRAZY (미쳐가네) TREASURE (트레저) 制作团队 > 년 나의 맘을 모르니 你硬是装莽嗦 미쳐가네 나는 미쳐가네 要癫咯 老子要癫咯 미쳐가네 네게 미쳐가네 要癫咯 为你癫咯 2 公众号 ...

Core Insights - Estée Lauder Companies reported a 3% organic sales growth in Q1 of fiscal year 2026, a significant recovery compared to a 13% decline in the previous quarter [1] - The company's net sales increased by 4% to $3.5 billion, with organic net sales also growing by 3% [1] - Gross margin improved by 100 basis points from 72.4% to 73.4%, driven by profit recovery and efficiency improvements [1] Financial Performance - Operating margin reached 4.9%, a notable improvement from -3.6% in the same period last year [1] - Adjusted operating margin increased by 300 basis points from 4.3% to 7.3%, attributed to profit recovery and growth initiatives [1] Market Performance - The Asia-Pacific region achieved a 9% organic net sales growth, driven by strong performance in the fragrance category and inventory optimization [2] - The mainland China market saw a 9% increase, with all categories gaining market share, particularly brands like La Mer, Le Labo, and Tom Ford [2] - Growth in mainland China was supported by innovative products and targeted marketing activities that enhanced online sales [2] Strategic Outlook - Fiscal year 2026 is positioned as a transformative year for the company, with an outlook of organic net sales growth expected to be flat to 3% [2] - Adjusted operating margin is projected to be between 9.4% and 9.9% for the full fiscal year [2] - The CEO emphasized the positive momentum from operational changes and the company's confidence in achieving its fiscal year 2026 outlook [2]

Core Viewpoint - L'Oréal is aggressively expanding its high-end beauty portfolio through significant acquisitions, including a €4 billion deal for Kering's beauty business, aiming to enhance its luxury brand matrix and secure long-term growth opportunities in a challenging market environment [1][4]. Group 1: Recent Acquisitions and Strategic Moves - L'Oréal announced the acquisition of Kering's beauty business for €4 billion, gaining 50-year beauty licenses for brands like Gucci and Balenciaga [1]. - The company has also acquired niche luxury fragrance brand Creed and secured long-term minority stakes in other high-end brands, filling gaps in its premium beauty offerings [6]. - L'Oréal's CEO indicated plans to discuss potential collaborations with the Armani Group, reflecting a strategy to leverage high-end brand partnerships for growth [1][4]. Group 2: Financial Performance - L'Oréal reported a sales revenue of €32.81 billion for the first nine months of 2025, with a like-for-like growth of 3.4% [3]. - The North Asia region achieved its first comparable growth in two years, with a 0.5% increase, driven by the recovery of high-end cosmetics [10]. - The professional products division led growth with a 7.4% increase, while the luxury segment saw a modest 2.2% growth [3]. Group 3: Market Positioning and Future Strategy - L'Oréal aims to transition from a brand manager to an "ecosystem builder," seeking to create synergies with Kering to explore new growth avenues [4]. - The company is focusing on enhancing its capabilities in customer engagement and digital innovation, which are critical in the current competitive landscape [8][11]. - The luxury beauty market is experiencing rapid growth, particularly in niche high-end fragrances, which L'Oréal is now better positioned to capitalize on with its recent acquisitions [6][12].

Core Points - Estée Lauder has completed the formation of a new executive team and announced its compensation plan for the fiscal year 2025, which includes base salary, pension, stock options, bonuses, and other benefits [1][2] - The overall annual target compensation for Estée Lauder's management has decreased by 28% following an internal restructuring [1][2] - The former CEO Fabrizio Freda's compensation has seen a significant reduction of 73%, while the current CEO's salary has dropped by approximately 50% compared to the previous CEO [1][3] Compensation Details - Fabrizio Freda, the highest-paid executive, will receive a total compensation of $17.8 million (approximately 127 million RMB) for the fiscal year 2025, with a portion consisting of stock options that may not realize full value due to stock price fluctuations [3][25] - Other executives have also experienced salary reductions, with the current CEO Stéphane de La Faverie earning $9.6 million (approximately 6.8 million RMB), a decrease of 46% from Freda's previous salary [26] - The current CFO Akhil Shrivastava's salary is $3.6 million (approximately 2.6 million RMB), reflecting a 52% drop from his predecessor [26] Performance Context - Estée Lauder has faced significant performance challenges, with net profits declining by 16%, 58%, and 60% from fiscal years 2022 to 2024, leading to a projected loss of $1.133 billion (approximately 808.5 million RMB) for fiscal year 2025 [28][30] - The company's sales and net profits have decreased, with Q4 of fiscal year 2025 reporting sales of $3.411 billion (approximately 24.34 billion RMB), a 12% year-over-year decline [30] Strategic Response - In response to ongoing performance issues, Estée Lauder has initiated significant reforms, including the establishment of a new leadership team and the launch of the "Beauty Reimagined" brand revitalization plan [33][34] - The return of veteran executive Lisa Sequino aims to strengthen the strategic planning and global growth of key makeup brands within the company [35] - The management's collective salary reductions highlight the direct correlation between the company's performance challenges and stock price volatility, emphasizing the need for strategic adjustments to restore market confidence and achieve long-term growth [38]

Core Insights - Estée Lauder reported an 8% year-over-year decline in organic net sales for the fiscal year 2025, with a loss of $785 million in operating profit [2][3] - The decline in the Chinese market was 6%, attributed to increased competition from local mid-to-high-end beauty brands and a failure to engage younger consumers [2][4] Financial Performance - For fiscal year 2025, Estée Lauder achieved organic net sales of $14.326 billion, down 8% from the previous year [2] - In mainland China, organic net sales were $2.741 billion, reflecting a 6% decline [3] - The company experienced a significant drop in net sales in previous fiscal years, with a 10.3% decrease in fiscal year 2023 and a 58% drop in net profit [3] Market Dynamics - The decline in sales is largely due to a downturn in global travel retail, which constitutes a significant portion of Estée Lauder's business [3][5] - The high-end beauty market is expected to grow by 2% to 3% in fiscal year 2026, with a recovery in travel retail anticipated [3] Competitive Landscape - Estée Lauder faces challenges from emerging local brands that are innovating in product concepts and marketing strategies, appealing to younger consumers [5][6] - The company has been criticized for its slow product innovation and lower R&D investment compared to competitors like L'Oréal [4][6] Strategic Challenges - Estée Lauder's reliance on travel retail channels and its slower product innovation cycle are seen as weaknesses in a rapidly changing market [6] - The company is also facing difficulties in adapting to the unique characteristics of the Chinese market, where online channels dominate and price competition is fierce [7] Future Outlook - The Chinese market is crucial for Estée Lauder, accounting for about 20% of its business, but the company must evolve its brand image and engage with younger consumers to avoid further declines [7] - Analysts suggest that the golden era for foreign mid-to-high-end brands in China may be over, with local brands increasingly taking the lead [7]

Core Viewpoint - Estée Lauder reported its largest loss in two decades, with a net sales decline of 8% to $14.326 billion and a net profit drop of 390%, resulting in a loss of $1.133 billion for the fiscal year 2025 [2][4]. Financial Performance - For fiscal year 2025, Estée Lauder's net sales were $14.326 billion, down 8% year-over-year, and net profit plummeted from $390 million to a loss of $1.133 billion [2]. - The stock price fell nearly 15% following the earnings report, closing at $91.23, down from $374.2 at the beginning of 2022 [2]. - The company anticipates a net sales growth of 2% to 5% and an adjusted earnings per share of $1.90 to $2.10 for fiscal year 2026, representing a year-over-year increase of 26% to 39% [9]. Product Category Performance - All major product categories, except for fragrance, experienced declines in net sales. Skin care and scalp care dropped by 12% and 10%, respectively, while color cosmetics fell by 6% [6]. - The fragrance category remained stable, with brands like Le Labo contributing to double-digit growth [11]. - The skin care segment, previously a strong performer, saw a 22% decline in operating profit, primarily due to underperformance from core brands Estée Lauder and La Mer [6]. Market Trends - Consumer preferences have shifted towards cost-effective and ingredient-safe products, impacting Estée Lauder's high-end positioning [7]. - The Chinese fragrance market is still in its infancy, with a penetration rate of only 5%, compared to over 40% in Western markets, indicating significant growth potential [11]. - The overall market for high-end cosmetics in China is projected to decline, with a compound annual growth rate of -3% from 2021 to 2024 [7]. Strategic Initiatives - The company is undergoing significant operational changes, including a global workforce reduction of approximately 7,000 positions, with over 3,200 already cut [9]. - Estée Lauder plans to enhance its product innovation, aiming for new products to account for over 25% of sales in fiscal year 2026 [8][12]. - The management remains optimistic about achieving organic sales growth in fiscal year 2026 despite current challenges [4].

Core Viewpoint - Estée Lauder reported a significant net loss of approximately $1.13 billion (around 81 billion RMB) for the fiscal year 2025, with a net sales decline of 8% [3][8]. Financial Performance - For the fiscal year 2025, net sales reached $14.33 billion, down from $15.61 billion in 2024 and $15.91 billion in 2023 [4]. - The operating loss was $785 million, with a net loss of $1.13 billion, marking the third consecutive year of declining net sales [3][4]. - The gross margin improved by 2.3 percentage points to 74% due to enhanced operational efficiency and better pricing strategies [5][6]. Market Analysis - The decline in net sales was primarily driven by a 28% drop in the global travel retail segment, which accounted for two-thirds of the overall sales decline [12][13]. - The Asia-Pacific market, including China, saw a 21% decrease in net sales, reflecting broader challenges in the travel retail sector [12][13]. - The Chinese mainland market's net sales were $2.741 billion, down 6%, highlighting its significance as it constitutes nearly 20% of the company's total sales [8][10]. Strategic Adjustments - Estée Lauder has restructured its management to emphasize the importance of the Chinese market, establishing it as a separate reporting segment [9][10]. - The company plans to report performance based on the new regional structure starting from the first quarter of fiscal year 2026, aiming for clearer accountability [10]. - The company is optimistic about the recovery of organic net sales in the Chinese market for fiscal year 2026, with signs of growth in the latter half of fiscal year 2025 [11]. Future Outlook - The CEO expressed confidence in achieving organic sales growth in fiscal year 2026 after three years of decline, with a goal of restoring operational profitability and achieving a stable double-digit operating margin in the coming years [7][11]. - Estée Lauder is focusing on innovation and product development to drive sales, with plans to increase the proportion of innovative products to over 25% by fiscal year 2026 [11].

Core Viewpoint - Estée Lauder is experiencing a challenging period in its reform and adjustment phase, with a reported net sales decline of 8% for the fiscal year 2025, marking the third consecutive year of decline, while the gross margin has improved [1][4][6]. Financial Performance - For the fiscal year 2025, net sales reached $14.33 billion, down from $15.61 billion in the previous year, with a net loss of $1.13 billion [4][5]. - The gross margin increased by 2.3 percentage points to 74%, attributed to improved operational efficiency, reduced excess inventory, and better pricing strategies [6][8]. - The operating loss was $785 million, with total operating expenses rising to $11.38 billion, representing 79.4% of net sales [5][6]. Market Analysis - The decline in net sales was significantly influenced by a 28% drop in the global travel retail market, which accounted for two-thirds of the overall sales decline [11]. - The Asia-Pacific market, including China, saw a 21% decrease in net sales, while the China market specifically reported $2.74 billion in sales, down 6% [7][10]. - The European, Middle Eastern, and African markets experienced the largest decline, with a 12% drop in net sales [4][5]. Strategic Adjustments - Estée Lauder has restructured its management to emphasize the importance of the China market, which is now reported as a separate segment [7][8]. - The company plans to enhance its product innovation and aims for innovative products to account for over 25% of sales in the fiscal year 2026 [8][12]. - The focus on reducing inventory levels in the travel retail sector has led to a decrease in its sales proportion, now closer to the global average for high-end beauty markets [11][12].