1月27日，安踏宣布以每股35欧元的价格收购彪马（Puma）29.06%的股份。斥资约122.8亿人民币 后，安踏取代皮诺家族成为彪马第一大股东，日益庞大的安踏宇宙再添新丁。 愿意接受62%的溢价拿下彪马，大老板丁世忠给出的解释是： 看重彪马的长期价值和潜力，而过去几 个月的股价并未充分反映出彪马的实力[1]。 这句话翻译一下就是：彪马管理层太菜，导致公司经营水平和品牌影响力不匹配；耐心资本太少，把彪 马卖成了一个值得安踏出手的抄底价。 过去一整年，彪马股价跌幅近50%，寻求出售的消息不胫而走。去年8月开始，就陆续传闻彪马"接触 包括安踏在内中国运动品牌及其它意向买家"，最终花落安踏，应该也不会太让业界意外。 在拯救运动市场落魄豪门这件事上，安踏妙手回春的战绩可谓汗牛充栋： FILA被拉扯成第二增长曲线，始祖鸟升咖户外爱马仕，迪桑特通吃东北老铁和陆家嘴金融男。去年4月 安踏收购户外品牌Jack Wolfskin（狼爪），大改造还在紧锣密鼓进行，如今将彪马收入囊中，在商场 跟可隆做邻居指日可待。 如果一个运动品牌知名度不错、但经营状况不佳，管理层就应该扪心自问：为什么安踏的投资并购部门 还不给我打电话？ 及时上 ...

Core Viewpoint - The article discusses the phenomenon of "microtrends" and how Generation Z is increasingly fatigued by fast-changing fashion trends, leading to a shift in consumer behavior towards nostalgia and second-hand markets [6][11][50]. Group 1: Microtrends and Consumer Behavior - 73% of Generation Z feels exhausted from following trends, reflecting a broader shift in their consumption and lifestyle attitudes [6][24]. - Microtrends are characterized by their short life cycles, with new styles emerging every few weeks or even days, making it challenging for consumers to keep up [12][21]. - The rapid iteration of fashion trends has led to a "buy more but wear less" mentality, resulting in increased waste [21][24]. Group 2: Nostalgia and Second-Hand Markets - There is a growing interest among young consumers in second-hand fashion, with over 80% of 18-34-year-olds willing to purchase vintage clothing [44]. - The perception of vintage items as more valuable and stable compared to fast fashion is becoming prevalent, with a significant portion of Generation Z considering resale value when buying clothes [48][50]. - Nostalgia is driving a preference for products with emotional significance, as young consumers seek deeper value beyond mere trends [50][52]. Group 3: Emotional and Financial Pressures - 42% of Generation Z admits to sacrificing essential expenses to keep up with fashion, indicating financial strain [24][62]. - The pressure to conform to trends is causing psychological stress, with many young people feeling overwhelmed by the constant need to update their wardrobes [24][76]. - A significant portion of Generation Z is experiencing negative emotions related to their consumption habits, leading to a cycle of stress and overconsumption [76][78].