7月9日上午，花都狮岭时尚品牌总部奠基仪式在广州市花都区狮岭镇举行。标志着花都区域皮具产业 向现代化、集约化转型迈出关键一步，为粤港澳大湾区产业升级注入新动能。 项目建成后，将直接带动就业岗位2000个，年创造经济效益约10亿元，通过"龙头企业引领+中小企业 集聚"模式，推动狮岭皮具产业向价值链高端延伸，成为区域经济高质量发展的新引擎。 当天，15家优质企业现场签约入驻。签约企业代表袁仕伟表示，之所以选择入驻园区，是因为这里汇 聚了众多优秀的箱包企业，有良好的产业生态，一流的办公环境和优质的产业服务，能够让企业迈上 更高的台阶。 该项目由广州市花都区狮岭皮革皮具商会牵头行业重点企业共同开发，致力于打造一个皮具箱包全产 业链集聚的时尚品牌总部园区。占地面积33300平方米，总建筑面积156700平方米，总投资达7亿元。 作为花都区推动传统产业转型的示范项目，其规划以"打造中国皮具产业时尚品牌总部基地"为目标， 聚焦构建集研发设计、生产制造、品牌运营、供应链服务于一体的全产业链生态体系。项目已取得不 动产权证并正式启动建设，一期项目入驻率超90%，展现出市场对产业升级的强烈期待。 项目深度融合狮岭镇"中国皮具之都 ...

作者 | 源Sight 王言 在打破行业"价格至上"的惯例主动降价后，英国奢侈品品牌Burberry似乎距离曙光更近一步。 从今年4月中旬至今，Burberry股价大涨超过7成，这在乌云笼罩的奢侈品行业当中属实难得。 原本上，Burberry是本轮奢侈品寒潮受冲击最严重的奢牌之一。根据2025财年报道，Burberry期内实现营收24.61亿英镑，同比 减少17%；调整后营业利润为2600万英镑，同比减少94%。 与2024财年相比，Burberry业绩下滑幅度更大。2024财年，Burberry实现收入29.68亿英镑，同比下跌4%；调整后的经营利润 下跌34%至4.18亿英镑。 降价、裁员 在2025财年，Burberry同店销售额下降了12%。分地区看，Burberry亚太市场全年可比销售额下滑16%，其中中国大陆、韩国 分别下跌15%和18%；EMEIA地区全年降8%；美洲市场全年下滑9%；南亚太平洋地区下降28%。 此外，日本成为Burberry唯一增长的市场，但全年仅微增1%，主要受益于中国游客的消费拉动。 近年来，在品牌老化、创意疲乏的质疑声中，Burberry五年三次换帅，企图通过管理层调整带 ...

Core Insights - The collaboration between New World Development and LV highlights the challenges faced by both parties in the luxury retail sector, particularly in Hong Kong, where consumer spending has declined significantly [1][2][3] Group 1: New World Development's Situation - New World Development has entered into a revenue-sharing rental agreement with LV for a flagship store in Hong Kong, indicating its financial struggles and the need for flexible rental models [1][2] - The company reported a 1.6% decline in revenue to HKD 16.79 billion and a 17.6% drop in core profit to HKD 4.42 billion for the first half of the fiscal year 2024 [6][10] - New World Development's rental income decreased by 4.3% to HKD 2.56 billion, with a notable 7.5% decline in Hong Kong rental income [6][10] Group 2: Luxury Market Challenges - The luxury retail sector in Hong Kong has faced significant challenges, with a 2.3% year-on-year decline in total retail sales value in April 2025 [9][10] - LVMH's sales in the first quarter of 2025 fell by 3%, with the fashion and leather goods segment, which includes LV, experiencing a 5% organic sales decline [2][14][16] - The overall luxury market is projected to face a slowdown, with predictions of either mild recovery or moderate contraction in 2025 [19][21] Group 3: Strategic Adjustments - LV is adapting to market conditions by introducing more affordable product lines, aiming to attract a broader consumer base amid declining sales [21][22] - The brand has also shifted to a commission-based rental model in response to the challenging retail environment, reflecting a strategic pivot to maintain profitability [22]

Core Viewpoint - In 2024, despite a booming gold price market, the jewelry industry faced a wave of store closures, while the jewelry company Chaohongji (002345.SZ) achieved a net increase of 158 franchise stores, resulting in a revenue of 6.518 billion yuan, a year-on-year growth of 10.48%. However, the company's profitability sharply declined in the second half of 2024, with a net loss of 122 million yuan in Q4, a year-on-year decrease of 698.93% [2]. Group 1: Franchise Performance - Chaohongji operates three main brands: "CHJ Chaohongji," "VENTI Vandi," and "FION Fianie," with over 90% of revenue coming from the jewelry sector. In 2024, the national gold consumption dropped by 9.58% to 985.31 tons due to suppressed consumer demand from rising gold prices, leading to diminishing returns from the previous rapid expansion strategy through franchise stores [4][5]. - The number of franchise stores increased to 1,505 by the end of 2024, with 1,268 being franchise stores. The revenue from franchise contributions reached 3.284 billion yuan, a year-on-year increase of 32.35%, marking a historical high. However, the gross margin for this sales model fell to 17.25%, down from 23.97% in 2020, significantly lower than the self-operated model's 31.57% [5][6]. Group 2: Revenue and Profitability Challenges - From 2020 to 2024, the revenue from Chaohongji's fashion jewelry showed instability, with a 10.6% decline in 2022 and a negative growth in 2024. In contrast, traditional gold products consistently showed positive growth during the same period, with a 30.21% increase in 2024 [8]. - The gross margin for traditional gold products remained low, fluctuating around 9% from 2020 to 2024, necessitating volume growth to support profitability. The company aims to increase its store count to 2,000 by 2025, but the actual net increase in 2024 fell short of expectations, posing a significant challenge [8][9]. - The company's leather goods segment, particularly the brand "FION Fianie," has underperformed, leading to multiple goodwill impairment provisions totaling 1.77 billion yuan in 2024 due to unmet performance expectations. The revenue from this segment dropped by 27.38% to 324 million yuan [9].

智通财经APP获悉，6月12日，美银发布的全球奢侈品消费深度调研报告《The good，the bad，and the ugly 》认为2025年第二季度整体奢侈品需求与第一季度情况相近，呈现出好、坏、糟糕三种情况。好 的是，尽管全球宏观经济波动加剧，欧洲、亚洲和美洲的本地需求仍保持坚挺。坏消息是，日本和欧洲 的旅游业持续恶化，且不太可能完全回流。糟糕的是，上半年息税前利润率面临压力，收入疲软、毛利 率承压(受产能利用率不足和国家组合影响)，再加上固定成本基数较大，盈利存在下行风险。美银的预 测比2024年上半年市场共识低6%。 2025 年第一季度奢侈品收入按固定汇率计算同比下降 1%，比 2024 年第四季度弱 4 个百分点，所有地 区的增长均有所放缓。 市场已消化了哪些因素？ 美银指出，尽管奢侈品公司的股价在 2025 年年初至今下跌了 8%，但市场共识的每股收益也下调了 8%。因此，该行业目前的动态市盈率为 22 倍，处于其历史估值区间的中值水平。短期内的主要上行风 险与宏观经济相关，下行风险则是 2025 年下半年 / 2026 年预期的重新调整。 美银认为，今年 9 月 / 10 月的时装秀更为重 ...

Core Viewpoint - Bank of America reports a 1% year-over-year decline in luxury goods revenue for Q1 2025, a 4 percentage point drop from Q4 2024, indicating a slowdown across all regions [1] Group 1: Market Trends - The luxury goods sector is expected to show mixed signals in Q2 2025, with both positive and negative indicators [1] - Despite global economic volatility, local demand remains strong in Europe, Asia, and the Americas [1] - The tourism sectors in Japan and Europe are deteriorating, with a full recovery unlikely [1] Group 2: Financial Projections - EBIT profit margin outlook for H1 2025 is uncertain, with revenue weakness exerting pressure on profitability [1] - Bank of America projects a 6% lower profit expectation for H1 2025 compared to market consensus [1] - The luxury goods sector is currently trading at a 22x P/E ratio, within the historical valuation range [1] Group 3: Regional Performance - In the Americas, luxury spending improved by 3 percentage points in Q2, with jewelry spending up 4 percentage points [5] - In Europe, tourism spending dropped by 8 percentage points, while local consumption remains stable [5] - In Japan, tourism spending is expected to decline by 30-50 percentage points, leading to a 16 percentage point negative impact [5] Group 4: Company-Specific Insights - LVMH's Q2 performance is critical for assessing its fashion and leather goods division, with a potential EBIT margin pressure [6] - Hermès is expected to see a 9% year-over-year revenue growth in Q2, with an EBIT margin of 40.1% [6] - Kering's Q2 performance is anticipated to align with previous guidance, with upcoming comments during earnings expected to influence market expectations for H2 2025 and 2026 [6] - Richemont's jewelry business remains strong, but market consensus on margins may be overly optimistic [6] - Moncler is projected to have flat revenue in Q2, with a 4% growth in retail revenue [6] - Prada's revenue is expected to decline by 1% in Q2 due to adverse factors in Japan, while Miu Miu is expected to grow by 40% [6] - Zegna is expected to see a 5% revenue growth in Q2, up from 4% in Q1 [6] - Swatch is projected to break even in H1 2025 [6]

本报记者 陈强 博越公司员工正在直播销售进口红酒。本报记者 陈强摄 昨天，在距离北京大兴国际机场直线距离只有800米的会议中心里，一场跨境电商交流会吸引了近200家外贸企 业、商协会。嘉宾们透过会议中心巨大的落地窗，能看到一架架客机、货机。据统计，今年1至5月，大兴机场吞 吐旅客2186万人次，同比上涨9.1%；收发货邮14.6万吨，同比上涨13.1%。 在新发展格局下，跨境电商是实现产业转型升级、贯通国内国际双循环的重要引擎。守着国际交通枢纽，作为全 国唯一的跨省临空区，大兴机场临空区如何实现"买全球、卖全球"？大兴机场临空区联合管委会主任张华表示， 临空区已实现综保区、自贸区、跨境电商综合试验区、中关村国家自主创新示范区、国家服务业扩大开放综合示 范区"五区叠加"，持续释放外贸新动能。 在政策、区位、空港优势的刺激下，不论是跨境电商国际巨头还是国内新军，纷纷在大兴机场临空区看到了扩大 市场、增长利润的机会，一座"跨境电商之城"正加速崛起。 "前店后仓"云集上万种进口商品 大兴机场综保区公共库，工作人员正在运输货物。（资料图）本报记者 武亦彬摄 在跨境电商交流会上，西班牙跨境电商平台BigBuy与大兴机场综 ...

迪奥之后，卡地亚又传出信息泄露问题。 近日，有消费者在社交媒体上晒出法国奢侈品品牌卡地亚官方发布的邮件。 邮件内容显示，近期有未经授权者短暂进入我们系统并获取部分有限的客户数据。我们已采取措施妥善 控制该情况，同时对系统与数据进一步加强保护。 从邮件中可以看到，泄露的信息包括姓名、电子邮件地址、所在国家/地区及出生日期等。 记者还了解到，目前卡地亚信息泄露的影响范围是全球性的，不仅仅发生在中国市场。卡地亚方面已经 跟相关部门进行报备并调查，事情已经得到妥善控制。 对此，蓝鲸记者致电卡地亚官方客服，对方向记者证实了信息泄露一事。 接线工作人员回应称："此事引发了公司高度关注，只涉及到部分顾客，泄露的内容包括姓名、电话、 邮件等，不涉及银行卡号、密码等财务信息。" 公开资料显示，卡地亚是法国的奢侈品品牌，母公司为历峰集团旗。卡地亚主要从事钟表及珠宝的制 造，经营的产品包括珠宝、钟表、皮具、香氛等。 值得一提的是， 今年5月法国奢侈品巨头迪奥同样发生了数据泄露事件 。迪奥方面表示，在中国收集的 受影响的客户个人信息的最大范围可能包括姓名、性别、手机号码、电子邮箱地址、邮寄地址、消费水 平、偏好，以及客户可能已向迪奥 ...

中国奢侈品市场正经历从"符号消费"到"文化认同"的深层次结构性变革，小红书凭借其独特的平台生态，成为奢侈品牌连接中国消费者的关键战略支点，重 塑奢品消费决策链，推动行业实现文化共情、圈层共振与全域转化。 消费者行为变迁：从物质到文化的价值跃迁 高净值人群展现出"反周期"消费韧性，43%表示未来一年将增加日用奢侈品消费，其消费趋势从物质转向价值观、文化转型、注重体验及生活方式延伸。中 产消费者则趋向"长期主义"，关注经典款与产品保值能力，小红书上"长期主义"相关话题浏览量高达9.5亿。决策要素从"符号消费"转向"文化认同"，年轻消 费者更注重品牌与个人身份的契合，小红书用户通过"新中式穿搭"等内容重构东方美学，推动品牌以"东方语言"对话。 小红书人群消费驱动：六大人群画像 小红书基于身份、价值、表达和社交属性，将奢品消费者分为六大人群。"奢派生活家"追求极致奢侈体验；"悦己摘星人"以奢侈品为生活仪式感标志；"潮 奢风格家"关注潮流设计；"静奢知识分子"偏好低调高级风格；"奢品入门人"处于探索阶段；"奢交体面人"注重社交属性，这些分类为品牌提供精准运营思 路。 双重引擎：文化翻译与圈层共振 文化翻译：破解本土化密 ...

智通财经APP获悉，5月21日，澳门统计暨普查局资料显示，今年第1季零售业销售额为175.8亿澳门 元，同比减少15%。与去年同季比较，皮具、化妆品及卫生用品、百货和钟表珠宝的销售额分别下跌 24.2%、22.3%、18.8%及17.3%，汽车则增加12%。扣除价格因素影响的首季销货量指数同比下跌 17.8%，以钟表珠宝（-29.9%）、皮具（-23.8%）、化妆品及卫生用品（-20.9%）和百货（-16.4%）的 同比跌幅较大，汽车（+11.4%）则录得增长。 综合零售商户意见，有53.7%商户预计今年第2季货物销售量将比去年同季减少，37.8%认为销售量相 仿，预期增加的占8.5%。与此同时，有62.5%商户预测第2季销售价格将维持在去年同期水平，认为价 格会下跌的占29.6%，而预计上升的占7.9%。与首季比较，约52.3%商户预计第2季经营情况转弱，预期 经营情况保持稳定的占35.1%，认为理想的占12.6%。 2023年澳门经济活动复常后，消费需求集中释放，带动零售业销售额一度高速增长；然而受同期高比较 基数以及消费模式转变等因素影响，销售额自2024年第1季开始录得同比跌幅。2025年第1季销售额 ...