（文/霍东阳 编辑/张广凯） 10月21日，据路透社报道，LVMH正在探索出售其在Fenty Beauty持有的50%的股份。有知情人士称，LVMH正与投资银 行Evercore合作推进此次出售。 Fenty Beauty由歌星蕾哈娜（Robyn Rihanna Fenty）与LVMH旗下的美妆孵化器Kendo Brands共同创立于2017年，双方各 持有50%股权。 Fenty Beauty一直是社交媒体上的热门美妆品牌。Rihanna创立Fenty Beauty的初衷，是为包括少数族裔女性在内的更广泛 肤色和肤质开发美妆产品线，品牌多达40个色号的粉底液让其坐稳了"包容"的特质。 这个曾被誉为颠覆传统美妆行业的品牌，在2024年创造了约4.5亿美元的净销售额，市场对其估值预计在10亿至20亿美元 之间。 在2022年KVD最后一次发布了产品后，Kendo Brands大幅缩减其品牌营销投入，KVD的营收也大幅缩水至数千万美元的 规模。 此外，另一奢侈品巨头开云集团也对其美妆业务进行了调整。 10月20日，开云集团与欧莱雅共同宣布达成一项价值40亿欧元的战略合作协议。欧莱雅将以现金方式支付40亿欧元收购 ...

2025上半年，国际美妆企业整体增长缓慢，亟需靠出售和人事调整优化组织，来重新构建增长曲线。随着进入到下半年，企业们的收购和出售活动也按下 了加速键。 如奢侈品巨头之一的开云集团，前不久刚官宣将美妆业务旗下香氛品牌Creed出售给欧莱雅，并与其建立长期战略合作(详见)。近日，另一奢侈品集团也 被爆考虑出售美妆品牌股份。 成立8年，年收入近50亿 10月22日，据外媒fashionnetwork报道，知情人士称LVMH正在探索出售Fenty Beauty 50%的股份。 △图源：fashionnetwork 其中三名知情人士称，LVMH正在与投资银行Evercore合作进行出售。但是LVMH 和Evercore拒绝置评，截止发稿日Fenty Beauty和蕾哈娜也未在外媒回 复。 据悉，Fenty Beauty在2024年创造了约4.5亿美元(人民币约32.06亿元)的净销售额，其估值达到了10亿美元(人民币约71.25亿元)至20亿美元(人民币约142.5 亿元)之间。 回顾其发展历程来看，Fenty Beauty已经成立8年。2017年，Rihanna与LVMH旗下的美妆孵化器Kendo签署协议，共同打造F ...

All right, five things to know ahead of the opening bell. A source telling CNBC Walmart is pausing hiring of candidates that require H-1B worker visas. Walmart was the ninth largest corporate recipient of H-1Bs in America in fiscal 2025.President Trump hit applications with a new $100,000 fee last month. In a statement to CNBC, a Walmart spokesperson said, "Walmart is committed to hiring and investing in the best talent to serve our customers while remaining thoughtful about our H-1B hiring approach." Briti ...

All right, five things to know ahead of the opening bell. A source telling CNBC Walmart is pausing hiring of candidates that require H-1B worker visas. Walmart was the ninth largest corporate recipient of H-1Bs in America in fiscal 2025.President Trump hit applications with a new $100,000 fee last month. In a statement to CNBC, a Walmart spokesperson said, "Walmart is committed to hiring and investing in the best talent to serve our customers while remaining thoughtful about our H-1B hiring approach." Briti ...

几年前靠炒作和明星带货的街头潮牌模式开始失效，代表例子是意大利潮牌集团NGG申请破产保护，旗下品牌选择独立运营。 几年前，一件logoT恤、一次限量上新、一张明星街拍，就能把一个街头品牌送上热搜。Off-White、Ambush、Palm Angels轮番接力成为潮流接班人。但现 在，联名消息不再频繁出现，那套靠炒作、稀缺性、明星带货的hype（限量制造）公式，也开始失效了。 意大利潮牌集团New Guards Group（NGG）算是这波"退烧"的代表。这个孵化过Off-White、Ambush、Heron Preston的平台，在去年底正式申请破产保护。 而在巅峰时期，这家爆款制造机受到资本青睐，于2019年被时尚零售平台发发奇（Farfetch）以6.75亿美元收购。 但NGG未能延续增长神话，反而被视为母公司的拖累，种种压力之下，发发奇在2023年末被卖给韩国电商平台酷澎（Coupang）。而在NGG重组挑战面前， 多个品牌选择离开。上月设计师Heron Preston收回同名品牌所有权，4月Ambush创始人夫妇回购股权，更多的品牌或将脱离NGG，重启独立运营。 消费者和资本都变了 过去，街头潮牌可 ...

Core Insights - LVMH reported a total revenue of €39.81 billion (approximately ¥335.12 billion) for the first half of 2025, a decline of 4% year-on-year, with operating profit down 15% to €9.01 billion (approximately ¥75.84 billion) [1][5][10] - The luxury goods sector is facing significant challenges, with the "Veblen Effect" losing its influence as younger consumers reassess the value of luxury items [3][4] - The high-end beauty segment has emerged as a key area of focus for LVMH, showing resilience with stable revenue of €4.08 billion (approximately ¥34.34 billion) in the first half of 2025 [12][13] Financial Performance - LVMH's total revenue for the first half of 2025 was €39.81 billion, down 4% from the previous year, while operating profit decreased by 15% to €9.01 billion [1][5][10] - The operating margin fell to 22.6%, a decrease of 2.5 percentage points year-on-year [5] - The Asian market (excluding Japan) saw its share decline to 28%, down 2 percentage points [1][10] Market Trends - The luxury goods market is experiencing a shift, with younger consumers increasingly questioning the traditional pricing logic of luxury items [4][5] - The beauty segment, particularly high-end cosmetics, is viewed as a potential growth driver amidst overall market contraction [12][19] - LVMH's beauty brands, including Christian Dior and Fenty Beauty, are adapting to changing consumer preferences, with Fenty Beauty showing significant growth in China [15][19] Strategic Initiatives - LVMH is focusing on brand revitalization and innovation in the beauty sector, with new product launches and a commitment to quality and desirability [17][18] - The company is restructuring its operations, including closing underperforming DFS stores and laying off staff in its wine and spirits division to reallocate resources towards beauty [21][23] - Sephora is being positioned as a key player in the Chinese market, with new brand introductions and a direct reporting structure to the global CEO [21][23]