以下文章来源于21Style ，作者贺泓源 21Style . 权威、独家、深度，先一步看到消费未来！ 视觉 | 顾芗 安踏集团对于Jack Wolfskin（狼爪）的改造正在拉开帷幕。 2025年12月2日，狼爪发布闭店通知，宣布因公司运营策略调整，其小红书旗舰店预计于2025年12月31 日正式结束运营。"自本公告发布之日起，我们将进入运营收尾阶段，店铺将逐步停止销售功能，但您 的权益仍将得到全面保障。"狼爪在公告中称。 据界面新闻报道称，狼爪小红书店铺之前由合作经销商代运营，由于品牌运营策略调整，与目前代运营 公司到年底会结束合作，因此需要闭店重新调整。 对于狼爪关闭小红书旗舰店一事，安踏集团向21世纪经济报道记者的回应是，以前述闭店通知为准。 4月10日，安踏集团宣布，以全资收购起源于德国的户外服饰、鞋履及装备专业品牌狼爪，基础对价为 现金2.9亿美元。 6月18日，安踏集团宣布，姚剑成为狼爪品牌掌舵人。 "改造"狼爪 需要注意的是，安踏"改造"狼爪是循序渐进的。 "狼爪定位大众户外运动，与集团现有的高端户外品牌群形成差异化的品牌定位。多品牌战略为应对全 球化的不确定性提供了坚实的发展基础。"4月，在 ...

记者丨贺泓源 编辑丨高梦阳 安踏集团对于Jack Wolfskin（狼爪）的改造正在拉开帷幕。 2025年12月2日，狼爪发布闭店通知，宣布因公司运营策略调整， 其小红书旗舰店预计于2025年12月31日正式结束运 营。"自本公告发布之日起，我们将进入运营收尾阶段，店铺将逐步停止销售功能，但您的权益仍将得到全面保障。" 狼爪在公告中称。 据界面新闻报道称，狼爪小红书店铺之前由合作经销商代运营，由于品牌运营策略调整，与目前代运营公司到年底会 结束合作，因此需要闭店重新调整。 对于狼爪关闭小红书旗舰店一事， 安踏集团向21世纪经济报道记者的回应是，以前述闭店通知为准。 4月10日，安踏集团宣布，以全资收购起源于德国的户外服饰、鞋履及装备专业品牌狼爪，基础对价为现金2.9亿美 元。 6月18日，安踏集团宣布，姚剑成为狼爪品牌掌舵人。 姚剑是安踏的"大功臣"，正是他开启了始祖鸟在华狂奔。 2019年3月，安踏集团联合财团完成对始祖鸟母公司亚玛芬体育收购的几个月后，姚剑入职亚玛芬，担任大中华区总经 理。2024年，姚剑晋升为亚玛芬大中华区总裁，全面负责始祖鸟和威尔胜等品牌的中国业务。同年，姚剑担任亚玛芬 大中华区总裁期 ...

2025年12月2日，狼爪发布闭店通知，宣布因公司运营策略调整，其小红书旗舰店预计于2025年12月31日正式结束运营。"自本 公告发布之日起，我们将进入运营收尾阶段，店铺将逐步停止销售功能，但您的权益仍将得到全面保障。"狼爪在公告中称。 据智通财经报道称，狼爪小红书店铺之前由合作经销商代运营，由于品牌运营策略调整，与目前代运营公司到年底会结束合 作，因此需要闭店重新调整。 对于狼爪关闭小红书旗舰店一事，安踏集团向21世纪经济报道记者的回应是，以前述闭店通知为准。 4月10日，安踏集团宣布，以全资收购起源于德国的户外服饰、鞋履及装备专业品牌狼爪，基础对价为现金2.9亿美元。 6月18日，安踏集团宣布，姚剑成为狼爪品牌掌舵人。 21世纪经济报道记者贺泓源 安踏集团对于Jack Wolfskin(狼爪)的改造正在拉开帷幕。 "改造"狼爪 选择姚剑接手狼爪，可见安踏集团对该品牌寄予厚望。 2025年8月，丁世忠在公开信中再度力挺狼爪。"我们已组建联合管理团队，今年内将制定3-5年的复兴计划，围绕其核心价值重 塑产品与品牌体系。"他称。 客观上，狼爪在国内有过相对辉煌期。该品牌成立于1981年，总部在德国伊德斯坦因( ...

安踏集团对于Jack Wolfskin（狼爪）的改造正在拉开帷幕。 2025年12月2日，狼爪发布闭店通知，宣布因公司运营策略调整，其小红书旗舰店预计于2025年12月31日正式结束运营。"自本 公告发布之日起，我们将进入运营收尾阶段，店铺将逐步停止销售功能，但您的权益仍将得到全面保障。"狼爪在公告中称。 据智通财经报道称，狼爪小红书店铺之前由合作经销商代运营，由于品牌运营策略调整，与目前代运营公司到年底会结束合 作，因此需要闭店重新调整。 对于狼爪关闭小红书旗舰店一事，安踏集团向21世纪经济报道记者的回应是，以前述闭店通知为准。 4月10日，安踏集团宣布，以全资收购起源于德国的户外服饰、鞋履及装备专业品牌狼爪，基础对价为现金2.9亿美元。 6月18日，安踏集团宣布，姚剑成为狼爪品牌掌舵人。 "改造"狼爪 需要注意的是，安踏"改造"狼爪是循序渐进的。 "狼爪定位大众户外运动，与集团现有的高端户外品牌群形成差异化的品牌定位。多品牌战略为应对全球化的不确定性提供了坚 实的发展基础。"4月，在宣布收购之际，安踏集团董事局主席丁世忠表示。 随着交易推进，对狼爪的改造步入落实阶段。 6月18日，安踏集团宣布，任命姚剑为 ...

Group 1 - Jack Wolfskin announced the closure of its Little Red Book flagship store, with operations expected to cease by December 31, 2025, due to a strategic adjustment [2] - The store will enter a winding down phase immediately, gradually stopping sales while continuing to provide after-sales service for existing orders until the closure date [2] - Jack Wolfskin was founded in Germany in 1981 and entered the Chinese market in 2007, with its associated company established in Shanghai in December 2014 [2] Group 2 - Anta Sports announced a conditional agreement to acquire 100% equity of Callaway Germany Holdco GmbH, which operates the Jack Wolfskin brand, for a base price of $290 million, subject to adjustments [3] - As of August this year, Jack Wolfskin operates 376 stores globally, with 212 located in Asia [3]

Core Viewpoint - Jack Wolfskin (狼爪) announced the closure of its Little Red Book flagship store due to operational strategy adjustments, with the store expected to cease operations by December 31, 2025 [3]. Group 1: Company Overview - Jack Wolfskin was founded in Germany in 1981 and entered the Chinese market in 2007 [3]. - The company operates under Jack Wolfskin Trading (Shanghai) Co., Ltd., established in December 2014, with a registered capital of 5 million USD [3]. - As of August this year, Jack Wolfskin has a total of 376 stores globally, with 212 located in Asia [6]. Group 2: Recent Developments - Anta Sports (安踏体育) announced a conditional agreement to acquire 100% equity of Callaway Germany Holdco GmbH, which operates the Jack Wolfskin brand, for a base price of 290 million USD, subject to adjustments for net working capital and other customary items [4][5].

Core Viewpoint - Anta Sports is facing a significant public relations crisis due to the "fireworks incident" involving its outdoor brand Arc'teryx, which has led to a decline in consumer trust and a drop in stock price, highlighting the challenges of balancing scale and brand values in a competitive outdoor market [1][9][10]. Group 1: Company Strategy and Acquisitions - Anta Sports has been actively building an outdoor brand empire through acquisitions, including the full acquisition of Jack Wolfskin for $290 million and the purchase of Amer Sports for €4.6 billion, which includes brands like Arc'teryx and Salomon [4][5]. - The company aims to establish a multi-brand universe with a focus on global expansion, adhering to a "single focus, multi-brand, globalization" strategy [4][5]. - In 2024, Anta's revenue is projected to exceed 70.826 billion yuan, marking a 13.6% year-on-year growth, making it the leading sports market player in China [5]. Group 2: Brand Performance and Marketing - Amer Sports, under Anta's ownership, reported a 23.46% revenue increase to $2.708 billion in the first half of 2025, with a net profit surge of 3047.06% [6]. - The marketing strategies employed by Anta have successfully positioned brands like Descente and Salomon as fashionable choices among middle-class consumers, expanding their market reach [7][8]. - The revenue from all other brands, including Descente and Kolon, reached 7.412 billion yuan in the first half of 2025, reflecting a 61.1% increase [7]. Group 3: Crisis and Brand Value - The fireworks incident has raised concerns about the dilution of Arc'teryx's brand values, which traditionally emphasize respect for nature and environmental sustainability [9][10]. - Experts suggest that the incident serves as a warning for Anta to protect and uphold the core values of its brands while pursuing aggressive growth strategies [10][11]. - The marketing approach that focuses on trendy labels and short-term gains may risk alienating core outdoor enthusiasts and undermine the long-term value of the brands [11].

Group 1: Market Overview - The Hong Kong stock market showed resilience with the Hang Seng Index closing at 24,825 points, up 326 points or 1.33%, and the Hang Seng Tech Index rising 1.65%, outperforming the broader market for six consecutive trading days [2][3] - The market saw a net inflow of capital from the north, with a net inflow of 5.931 billion HKD on Friday, an increase of 219.7% from the previous day [2] - The overall trading volume on the main board was 238.7 billion HKD, a slight increase of 0.96% compared to the previous trading day [2] Group 2: Sector Performance - All 12 Hang Seng Composite Industry Indices rose, with leading sectors including materials, consumer discretionary, financials, and consumer staples, showing gains between 1.29% and 2.47%, surpassing the Hang Seng Composite Index's increase of 1.23% [3] - Underperforming sectors included utilities, telecommunications, real estate, and conglomerates, with gains ranging from 0.20% to 0.65% [3] Group 3: Company Analysis - Anta Sports (2020.HK) - Anta's main brand reported low single-digit growth in revenue for Q2 2025, slightly below expectations, with children's products performing better than adult products [6] - The company is implementing a "lighthouse store plan" to enhance its offline presence while synchronizing online and offline strategies [6] - The acquisition of Jack Wolfskin is expected to enhance Anta's market position in the outdoor apparel segment, leveraging its supply chain and distribution capabilities [7] Group 4: Financial Projections - The report forecasts Anta's EPS for 2025-2027 to be 4.72, 5.26, and 5.88 HKD respectively, with a target price of 113.6 HKD based on a 22x PE ratio for 2025 [7]

Core Viewpoint - Anta Group's acquisition of the German outdoor brand Jack Wolfskin aims to enhance its presence in the mid-range outdoor market and expand its global footprint [2][3]. Group 1: Acquisition Details - Anta Group confirmed the appointment of Yao Jian as the president of Jack Wolfskin, effective July 1, 2025, to align with the group's strategic development [2]. - On April 10, Anta Sports announced the acquisition of Callaway Germany Holdco GmbH, the parent company of Jack Wolfskin, for $290 million [2]. - The acquisition was officially completed on June 2, making Jack Wolfskin a wholly-owned subsidiary of Anta [2]. Group 2: Brand Background - Jack Wolfskin, founded in 1981 and headquartered in Idstein, Germany, specializes in outdoor apparel, footwear, and equipment, recognized for its TEXAPORE technology and ergonomic designs [2]. - As of January this year, Jack Wolfskin operates 495 exclusive stores globally, with 226 in Europe and 269 in Asia, in addition to over 4,000 retail outlets [3]. Group 3: Market Strategy - Anta's acquisition is intended to fill gaps in its mid-range outdoor market offerings and enhance its brand portfolio [3]. - The group aims to leverage Jack Wolfskin's unique material technology and German engineering expertise to boost its competitiveness in the outdoor sports sector [3]. - Industry experts believe that Jack Wolfskin's strong market penetration in Europe, particularly in German-speaking regions, will provide Anta with valuable channel control and accelerate its expansion in the European market [3]. Group 4: Leadership Impact - Yao Jian's previous role as General Manager of Amer Sports Greater China saw significant revenue growth, with the region's contribution to Amer Sports rising from 8.3% in 2020 to 23.1% by Q3 2024 [4]. - Under Yao's leadership, Amer Sports Greater China achieved a revenue of $1.298 billion in 2024, marking a 53.7% year-on-year increase [4]. - His extensive industry experience and management skills are expected to help Jack Wolfskin develop a global strategy and expand its business footprint [4].

Group 1: Market Overview - The Hang Seng Index closed down 131 points, ending at 23,157, after opening lower and briefly falling below the 23,000 mark [3][4] - The overall market turnover was 145.245 billion HKD, marking the lowest trading volume in nearly a month [4] - Major blue-chip stocks such as Alibaba and Meituan experienced declines of 0.6% and 1.7% respectively [3] Group 2: Retail Sector Insights - Hong Kong's retail sales value for April was estimated at 28.9 billion HKD, a year-on-year decline of 2.3%, marking the 14th consecutive month of decline [7][9] - The retail environment is described as unfavorable, with expectations that the sales figures are nearing a bottom, and a slight improvement is anticipated in the second half of the year [7] - Online sales accounted for 8.1% of total retail sales in April, with an estimated value of 2.3 billion HKD, down 3.5% year-on-year [9] Group 3: Corporate Developments - Anta Sports completed the acquisition of the Jack Wolfskin business for approximately 2.9 billion USD (about 22.62 billion HKD), which is expected to enhance its brand portfolio [11] - DiSheng Creation reported a 43.55% decline in net profit for the year ending March, with revenue down 19.93%, indicating challenges in adapting to changing consumer behaviors [12] - Vodafone and CK Hutchison completed the merger of their UK telecom businesses, creating a new entity named Vodafone Three, which will invest 11 billion GBP in developing a 5G network [13] Group 4: Strategic Moves in Digital Assets - OSL Group announced the acquisition of 90% of Evergreen Crest Holdings Ltd for 15 million USD (approximately 1.17 billion HKD), aiming to enter the Indonesian digital asset market [14]