作者丨 张雪 来源丨 投中网 高端百货商场天花板的 SKP ，也要被卖了。 据悉，北京华联集团投资控股有限公司正在洽谈将其运营和开发的 SKP 出售给博裕资本。知情人 士称，双方已就 SKP 的管理和运营业务接近达成协议，该业务整体价值在 40 亿至 50 亿美元之 间。不过，就相关商场物业的归属还在讨论中。 对此，投中网向博裕资本进行求证，相关人员表示不予置评。 某种程度上， SKP 的出售也成为了中国奢侈品市场日渐衰落的一个缩影。 数据显示， 2024 年中国内地高端消费市场规模同比下滑 2% 至 1.63 万亿元，其中个人奢侈品市 场销售额预计下降 18%-20% 。 01 SKP，中国高端商场的代名词 有业内人士透露， 2024 年，北京 SKP 销售额或下跌 17% 至 220 亿元左右，较 2023 年的 265 亿元下滑约 45 亿元。与此同时，据赢商网消息，南京德基广场 2024 年全年销售额达到 245 亿元，问鼎了中国乃至世界高端商业销售额第一。 这样短暂的跌落神坛，不知道 SKP 内部会如何严阵以待。 不止北京，在西安、成都、武汉，还有杭州， SKP 的选址始终聚焦于城市的核心区域、高端 ...

Core Viewpoint - The potential sale of SKP by Beijing Hualian Group to Boyu Capital reflects the declining luxury goods market in China, with a projected 18%-20% drop in personal luxury goods sales in 2024 [3][9]. Group 1: SKP Overview - SKP, located in the core business district of Beijing, has been a landmark high-end shopping center, achieving daily sales exceeding 1 billion yuan [5][6]. - Established in 2007 through a partnership between Taiwan's Shin Kong Mitsukoshi and Beijing Hualian, SKP was positioned as a high-end shopping destination from the outset [6][7]. - The shopping center has hosted over 938 brands, including more than 90 top international brands, with over 40% making their debut in Beijing [6][8]. Group 2: Financial Performance - SKP's sales performance has been remarkable, with revenues reaching 6.5 billion yuan in 2012, 7.2 billion yuan in 2013, and 7.5 billion yuan in 2014, making it the highest-grossing mall in China for twelve consecutive years [8]. - However, projections indicate a 17% decline in sales for 2024, estimating revenues around 22 billion yuan, down from 26.5 billion yuan in 2023 [9]. Group 3: Boyu Capital's Acquisition Strategy - Boyu Capital, managing nearly 10 billion USD, focuses on private equity investments in high-growth sectors, with recent activities in technology, pharmaceuticals, and consumer goods [12]. - The acquisition of SKP is seen as a strategic move to enhance Boyu Capital's portfolio in high-end commercial real estate, aiming to create a "high-end consumption ecosystem" [14]. - Boyu Capital has been active in the real estate sector since 2017, previously investing in Vanke Property and acquiring shares in Jin Ke Service Group [12][13]. Group 4: Market Context - The sale of SKP is not an isolated incident; other significant transactions in the real estate market include Alibaba's sale of Intime Retail for 7.4 billion yuan and Miniso's acquisition of a stake in Yonghui Supermarket for 6.27 billion yuan [15]. - The luxury retail market in China is projected to grow, with forecasts suggesting that by 2030, China will become the largest luxury goods consumer globally, positioning SKP as a valuable asset in this evolving landscape [15].

Core Viewpoint - The article discusses the potential sale of SKP, a high-end department store in Beijing, by Beijing Hualian Group to Boyu Capital, with an estimated value between $4 billion to $5 billion. The sale is indicative of the changing dynamics in the high-end retail market in China, especially as SKP faces declining sales figures [1][10][18]. Group 1: SKP Overview - SKP, located in the core area of Beijing, has been a landmark in the CBD and has achieved significant sales milestones, including a record single-day sales of over $1 billion [4][5]. - Established in 2007, SKP was co-founded by Taiwan's Shin Kong Mitsukoshi and Beijing Hualian Group, positioning itself as a high-end shopping center with a strong brand portfolio [6][7]. - The store has consistently ranked as one of the highest-grossing malls in China, surpassing $10 billion in sales from 2012 to 2014, and was once the highest-grossing store globally [9]. Group 2: Sales Performance and Market Position - SKP's sales are projected to decline by approximately 17% in 2024, with expected revenues around $22 billion, down from $26.5 billion in 2023, marking a significant shift in its market position [10]. - The decline in sales has been attributed to increased competition, particularly from Nanjing Deji Plaza, which is expected to surpass SKP in sales for the first time [10]. Group 3: Boyu Capital's Acquisition Strategy - Boyu Capital, a private equity firm with nearly $10 billion in assets under management, is focusing on high-growth sectors and has been active in various investments, including technology and consumer sectors [13][14]. - The acquisition of SKP is seen as a strategic move to enhance Boyu Capital's portfolio in high-end commercial real estate, aiming to create a "high-end consumption ecosystem" [18]. - The transaction aligns with broader trends in the real estate market, where high-quality assets are increasingly sought after, as evidenced by other significant sales in the sector [19][20].