文 | 《BUG》栏目 徐苑蕾 雀巢中国正深陷一场 "渠道危机"。 多位雀巢分销商向《 BUG》栏目表示，被拖欠垫付款等约百万元，拖欠时间长达数年。 而 这些分销商的遭遇或仅是雀巢渠道乱象的冰山一角。据报道，今年 4月，有华南经销商 因费用核销问题集体维权， 但 被雀巢方面告知 "只愿支付50%欠款"。 截至发稿，雀巢中国对此暂无官方回应。不过据《 BUG》栏目了解，雀巢大中华区新任 CEO马凯思上任后，雀巢方面已在近几个月着手解决线下渠道的欠款问题。雀巢愿意支付 比例或达到70%，但前提是渠道商提供的证明材料必须得到其认可。 一位雀巢离职业务员透露，为冲销量，业务员往往会按指示让分销商以低于进货价的价格出 货，公司再以营销费补贴价差。这种做法不仅导致大量垫付款被长期拖欠，更造成雀巢产品 价格倒挂普遍、窜货严重的现象。 分销商 ： 百万垫款 成烂账 ？ 另 据 "食品内参"报道，今年4月，就有多位雀巢华南经销商因费用拖欠问题集体到雀巢中 国总部沟通，所涉费用高达千万。报道称，在沟通过程中，雀巢相关负责人坦承，早在 2017年，公司就曾欠下上百家经销商的费用。然而对于累积的欠款，该负责人称，雀巢最 多只愿意支付 ...

文 | 《BUG》栏目 徐苑蕾 雀巢中国正深陷一场"渠道危机"。 多位雀巢分销商向《BUG》栏目表示，被拖欠垫付款等约百万元，拖欠时间长达数年。 而这些分销商的遭遇或仅是雀巢渠道乱象的冰山一角。据报道，今年4月，有华南经销商因费用核销问题集体维权， 但被雀巢方面告知"只愿支付50%欠款"。 截至发稿，雀巢中国对此暂无官方回应。不过据《BUG》栏目了解，雀巢大中华区新任CEO马凯思上任后，雀巢方面 已在近几个月着手解决线下渠道的欠款问题。雀巢愿意支付比例或达到70%，但前提是渠道商提供的证明材料必须得 到其认可。 一位雀巢离职业务员透露，为冲销量，业务员往往会按指示让分销商以低于进货价的价格出货，公司再以营销费补贴 价差。这种做法不仅导致大量垫付款被长期拖欠，更造成雀巢产品价格倒挂普遍、窜货严重的现象。 分销商：百万垫款成烂账？ 雀巢江苏泰州的分销商范彬告诉《BUG》栏目，2018年至2022年，他作为分销商被拖欠垫付款、陈列费等共计约90万 元。2022年，范彬由分销商转为经销商，原本期望"被拖欠的费用能够慢慢还"，然而欠款不仅未结清，反而新增了20 万元。 范彬所面临的困境并非个例。自今年5月起，雀巢河北威 ...

Core Viewpoint - Nestlé, once a leader in the instant coffee market in China, is now facing challenges in attracting young consumers, necessitating a strategy to rejuvenate its brand and appeal to this demographic [2][8]. Company Overview - Nestlé, a Swiss food and beverage giant, has a diverse portfolio that includes coffee, dairy products, confectionery, beverages, and pet food, with over 2,000 brands operating in more than 100 countries [4]. - The company originated from a baby food product developed in the 1860s by pharmacist Henri Nestlé, which aimed to reduce infant mortality rates in Switzerland [4]. Coffee Business Development - Nestlé's instant coffee, Nescafé, was created in 1930 using spray-drying technology to address surplus coffee production in Brazil, becoming a staple for U.S. troops during WWII and gaining popularity post-war [5]. - The coffee segment has become a core part of Nestlé's business, with Nescafé generating approximately $10 billion in annual sales, accounting for 36% of the company's coffee business revenue [5][9]. - In 2018, Nescafé held over 70% market share in China's instant coffee market, significantly outpacing its closest competitor, Maxwell [5]. Market Trends and Challenges - The instant coffee market in China is currently valued at approximately 78 billion yuan, representing nearly half of the national coffee market, but has seen a slight decline of 1.5% year-on-year [9]. - The rise of fresh coffee consumption and changing health perceptions among consumers have led to a preference for low-sugar, no-cream instant black coffee, impacting traditional instant coffee sales [9]. - Competitors like Luckin Coffee and Starbucks have become more prominent in the minds of young consumers, overshadowing Nestlé's historical presence in the market [7][9]. Product Innovation and Strategy - In response to market changes, Nestlé has introduced new products, including upgraded classic series, zero-sugar options, and beverages like sparkling Americano, while also diversifying into various formats such as drip coffee and ready-to-drink products [9][10]. - Despite these innovations, Nestlé faces challenges in reshaping consumer perceptions, as many still associate the brand primarily with sugary instant coffee [10]. Distribution and Sales Dynamics - Nestlé has traditionally employed a "deep distribution" model, requiring distributors to purchase in bulk, which has led to inventory issues and financial pressures amid slowing consumer demand [11][12]. - Recent shifts in strategy aim to transition from a distribution-driven model to one focused on actual consumer sales, indicating a need for better engagement with end consumers [12].

Group 1: Market Performance - Tea beverage stocks collectively strengthened, with Mixue Group's market value surpassing Luzhou Laojiao, reaching over 219.8 billion HKD and a historical high stock price of 579 HKD, reflecting a significant increase of over 160% since its listing on March 3 [1] - The Hang Seng Index rose by 0.43%, while the Hang Seng Technology Index increased by 0.48%, indicating a positive market trend [1] Group 2: Industry Growth - The ready-to-drink tea market is projected to reach approximately 310.9 billion CNY by 2025, with a compound annual growth rate (CAGR) of about 19.7% from 2023 to 2028, maintaining rapid growth [2] - The CR5 market concentration for the tea beverage sector is 49%, with Mixue Ice City holding the largest market share at 20.2% [2] Group 3: Company Developments - Luckin Coffee's Jiangsu roasting base received the LEED Platinum certification, marking another achievement in its sustainability efforts following a similar certification for its flagship store in Beijing [3] - Meco Cup Fruit Tea, under Xiangpiaopiao, announced the youth group "Times Youth League" as its new brand ambassador, aiming to enhance brand visibility and engagement through various marketing strategies [4] - Nestlé Japan announced price increases for 54 beverage products, including instant coffee, due to rising raw material costs, with price hikes ranging from 7% to 32% effective from August 1 [6] Group 4: Market Challenges - In South Korea, the number of coffee shops decreased for the first time since 2018, with a total of 95,337 coffee shops operating in the first quarter, down by 743 from the previous year, indicating a contraction in the coffee shop market [7]

Group 1: Nike and Amer Sports Pricing Strategies - Nike plans to increase prices on certain products in the U.S. market starting next month, with a maximum increase of $5 for shoes priced between $100 and $150, and $10 for shoes priced above $150. Products under $100, children's items, and popular "Air Force One" shoes will not see price increases [1] - Amer Sports, the parent company of Arc'teryx, indicated that if tax rates rise, it expects an EPS impact of $0.05, corresponding to about 100 basis points of margin pressure. The company plans to counteract tariff impacts through price increases, supplier negotiations, and supply chain adjustments [1] - Amer Sports reported a 23% year-over-year revenue growth to $1.473 billion in the first quarter, with adjusted net profit rising significantly from $39 million to $148 million [1] Group 2: Regional Performance and Growth - Amer Sports' Technical Apparel segment saw a 28.4% year-over-year revenue increase to $664 million, with direct-to-consumer sales up 31% and same-store sales up 19% [2] - The Outdoor Performance segment, including Salomon, experienced a 24.9% revenue growth to $502 million, driven by over 60% growth in the Greater China and Asia-Pacific regions [2] - In the first quarter, sales in the Greater China region surged 43.1% to $446 million, nearly matching North America's sales of $465 million, which grew by 12% [2]