Chinese consumers are losing their appetite for Hermès; "Liuliumei" is gearing up for a Hong Kong IPO; Dongpeng Beverage's Q1 net profit soars 48% | Brand Weekly Report
Compiled by Li Xiaoxia
Big News
Chinese Consumers Lose Appetite for Hermès
Hermès' growth in the Chinese market has slowed down.
On April 17th, Hermès released its financial report for the first quarter of 2025. The group's revenue reached 4.129 billion euros, a year - on - year increase of 9% at current exchange rates, approaching double - digit growth. At constant exchange rates, it increased by 7%. The growth in the Asian market (excluding Japan) was only 1.2% to 1.97 billion euros, mainly affected by the sluggish luxury consumption and the decline in footfall in the Chinese market.
By region, the Japanese market performed the strongest, with a 17% increase to 420 million euros. France's domestic market grew by 14.2% to 360 million euros, other European regions grew by 12.7% to 500 million euros, the American market grew by 11% to 700 million euros, and other regions including the Middle East grew by 14.1% to 190 million euros.
By business segment, leather goods and ready - to - wear led the way, but watches and perfumes faced pressure. Leather goods and saddlery remained the group's revenue mainstay, with a year - on - year increase of 10%. Ready - to - wear and accessories grew by 7.2%, silk and textiles by 4.5%, jewelry and homeware by 6.1%, and other product categories by 16.5%. The perfume and beauty segment was basically flat, with a 0.5% year - on - year decline. The watch business tumbled by 10%, being the only segment with a significant decline this quarter.
Liuliu Orchard Aims for Hong Kong IPO
"Are you okay? If so, have Liuliu Plums."
Recently, the official website of the Hong Kong Stock Exchange showed that Liuliu Orchard Group Co., Ltd. has submitted a listing application to the Hong Kong Stock Exchange, aiming for a Hong Kong IPO. Liuliu Orchard's main business focuses on the R & D, production, and sales of specialty fruit - based snacks. Processed green plum products are the company's leading products, and other specialty fruits include plum and prune products, dried fruit products, etc.
Financial data shows that from 2022 to 2024, Liuliu Orchard's total revenues were 1.174 billion yuan, 1.322 billion yuan, and 1.616 billion yuan respectively; the corresponding net profits were approximately 68 million yuan, 99 million yuan, and 148 million yuan respectively.
The prospectus shows that in 2024, the sales revenues of dried plum snacks, prune foods, and plum jelly were approximately 974 million yuan, 224 million yuan, and 410 million yuan respectively, accounting for 60.3%, 13.8%, and 25.4% respectively.
During the reporting period, Liuliu Orchard's marketing expenses were 70 million yuan, 77 million yuan, and 61 million yuan respectively; advertising expenses were 67 million yuan, 74 million yuan, and 79 million yuan respectively. Calculated, the total marketing and advertising expenses of Liuliu Orchard reached 428 million yuan in three years.
Donkey - Headed Energy Drink's Q1 Net Profit Up 48% Year - on - Year
Recently, Donkey - Headed Energy Drink released its financial report for the first quarter of 2025. Data shows that the company's revenue in this quarter reached 4.848 billion yuan, a year - on - year increase of 39.23%; the net profit attributable to shareholders of the listed company also reached 980 million yuan, a year - on - year increase of 47.62%.
In terms of product categories, energy drinks remain the pillar business of Donkey - Headed Energy Drink. The revenue in the first quarter was as high as 3.9 billion yuan, accounting for 80.50% of the total revenue. Meanwhile, electrolyte drinks also achieved rapid growth, with revenue reaching 569 million yuan, and the proportion increased from 4.53% in the same period of the previous year to 11.76%. In addition, the revenue of other beverage categories also increased, reaching 374 million yuan.
"Donkey - Headed Hydration" is a new brand of electrolyte water launched by Donkey - Headed Energy Drink in 2023. Its revenue in 2024 increased by 280.37% year - on - year to approximately 1.5 billion yuan. That is to say, Donkey - Headed Energy Drink created another single product with a scale of 1.5 billion yuan in two years.
In terms of regional markets, the Guangdong region had the highest revenue, reaching 1.125 billion yuan; the North China region followed closely, with revenue of 746 million yuan, accounting for 15.4%.
Ordos' Clothing Business Revenue Exceeds 4 Billion Yuan
Ordos released its annual performance for 2024. During the period, the company's operating revenue was 28.403 billion yuan, a year - on - year decrease of 7.04%, and the net profit was 1.847 billion yuan, a year - on - year decrease of 36.39%.
Ordos' main business covers two major sectors: clothing and power, metallurgy, and chemical industry. Among them, the clothing sector achieved an operating revenue of 4.018 billion yuan, a year - on - year increase of 6.99%.
The company owns four major brands: "ERDOS", "Ordos 1980", "BLUE ERDOS", and "erdos KIDS", and is actively expanding the "KVSS" supply - chain brand. As of the end of the reporting period, the total number of the company's stores reached 953, including 582 directly - operated and controlled stores and 371 dealer stores.
Haoxianglai Brand Snacks' Revenue Nearly Reached 31.8 Billion Yuan Last Year
Recently, Wanchen Group, which owns the Haoxianglai brand of snacks, released its 2024 performance. During the period, the mass - market snack business achieved an operating revenue of 31.79 billion yuan, a year - on - year increase of 262.94%. After excluding the share - based payment expenses, the net profit was 858 million yuan (the net profits in the first half and the second half of the year were 280 million yuan and 578 million yuan respectively, with corresponding net profit margins of 2.63% and 2.74% respectively).
Based on the statistics of stores that can be included in the operating cycle, the company added 9,776 new stores, closed 242 stores due to store - operation reasons, and reduced 64 stores due to non - store - operation reasons. The number of stores at the end of the period was 14,196.
In 2025, the company will promote the expansion in emerging regional markets. On the premise of maintaining high - turnover sales, it will strive to achieve a closed - loop link of "insight into demand - product co - creation - rapid launch".
Moncler's Performance Slows Down Significantly
Moncler released its performance for the first quarter of 2025. Revenue increased by 1% year - on - year to 829 million euros, exceeding market expectations. This growth was mainly driven by strong demand in the Asian market and the continuous expansion of the direct - to - consumer channel.
Specifically, the sales of the Moncler brand increased by 2% year - on - year to 721.8 million euros; Stone Island's sales declined by 5% year - on - year, with revenue of 107.3 million euros. By region, Moncler performed well in the Asian market, with revenue growing by 5% to 380.8 million euros. The Japanese market was particularly prominent, benefiting from the recovery of tourism consumption. In contrast, the revenue in the European, Middle Eastern, and African markets decreased slightly, while the American market remained stable. Stone Island also performed well in Asia, with revenue growing by 14% to 31.2 million euros, mainly due to strong demand in Japan and the Chinese mainland.
New Product Launches, Brands
Nescafé Launches Multiple New Products
Recently, Nescafé held its 2025 new - product launch event, officially announcing the new upgrade of the classic 1 + 2 formula and unveiling products such as the strong series, white coffee, grape sparkling Americano, multiple ready - to - drink Americanos, and gold - label freeze - dried coffee. Among them, Nescafé optimized and upgraded the formula of the classic 1 + 2 product, removing hydrogenated vegetable oil and achieving 0 trans - fat.
Judydoll Launches Its First Sub - brand: "Judydoll Orange Label" High - Performance Makeup
On April 15th, Judydoll launched its first sub - brand, "Judydoll Orange Label" high - performance makeup. Focusing on makeup problems such as sun exposure, makeup smudging, and skin stuffiness in outdoor and sports scenarios, it created high - performance makeup products with a lighter skin - feel. The new products of "Judydoll Orange Label" feature "5 - proof" - waterproof, sweat - proof, sun - proof, smudge - proof, and high - temperature - proof, and "0 - feeling" - 0 stuffy feeling, 0 oily feeling, 0 powder feeling, 0 sticky feeling, and 0 film feeling. This new launch includes six new products: Judydoll Orange Label "Reflective Shield" sun - powder compact, long - lasting foundation, liquid blush, liquid eyeshadow, soothing moisturizing spray, and double - ended eyebrow pencil.
Guozishule Launches 30% Juice Tea
Recently, Guozishule officially announced the launch of its 30% juice tea new products. There are three flavors in total: guava lemon green tea, strawberry jasmine Chinese plum, and sunny orange jasmine. It is reported that the raw materials for the three juice teas are Guangxi red guava and Fujian yellow - skinned lemon, Shandong strawberries and Ningde Chinese plums, and Gannan navel oranges and Guangxi Hengxian jasmine respectively. The sunny orange jasmine juice tea adds NFC non - concentrated reconstituted orange juice. Among them, the juice (pulp) content of guava lemon green tea and strawberry jasmine Chinese plum is ≥30%, and that of sunny orange jasmine is ≥20%.
Mixue Bingcheng's First Store in Kazakhstan Opens
On April 19th, Mixue Bingcheng's official Weibo announced the opening of its first store in Kazakhstan. The store is located on the 5th floor of a shopping mall in Almaty. This is also Mixue Bingcheng's first store in the five Central Asian countries. Currently, Mixue Bingcheng has entered 13 countries around the world.
Marketing Matters
Keep Launches Its First Short Film Series on Intangible Cultural Heritage Traditional Sports
On April 16th, Keep launched its first short film series on intangible cultural heritage traditional sports, "The Disappearing Daughters of Wing Chun". This video focuses on women practicing Wing Chun and records the story of Guo Ziyu, a college student, inheriting Wing Chun. It shows the charm of Chinese traditional martial arts and the strength of young women to the public.
At the same time, Keep also launched a Wing Chun follow - along course on all platforms, allowing the public to experience the charm of traditional sports. In the future, Keep will continue to launch content related to intangible cultural heritage traditional sports to promote the inheritance and innovation of Chinese traditional sports culture.
Blue Bottle Coffee Collaborates with Marimekko to Launch a Co - branded Limited Edition Series
Blue Bottle Coffee, a global specialty coffee brand, will collaborate with Marimekko, a Finnish lifestyle design brand, to launch a co - branded limited edition series on April 26th, Beijing time.
In addition to launching limited - edition products such as fabrics and coffee utensils themed around the brand's classic prints and color schemes, and the Marimekko Latte - orange - scented honey cinnamon latte inspired by the korvapuusti (classic cinnamon roll) in Finnish coffee culture, this cross - border collaboration will also present special installations like an art gallery in ten selected stores globally in North America, Japan, South Korea, and China for a limited time, paying tribute to Finnish coffee culture with design and artistic inspiration and interpreting the beauty of daily life.
what's more
Nestle to Firmly Accelerate Its Coffee Business in China
Recently, Jiang Haiying, the senior vice - president of Nestle Greater China and the person in charge of the coffee business, said, "The growth potential of the Chinese market gives Nestle Coffee greater confidence in development and makes us firmly accelerate our coffee business in China." She pointed out, "At the same time, the AOA (Asia, Oceania, and Africa) region has certain expectations for Nestle Coffee's business in China and hopes that we can unswervingly continue the growth." She also said that in terms of innovation, some larger, high - quality innovation projects will be carried out to create new future growth poles according to the latest trends in the Chinese consumer market and the Chinese coffee industry. (The Paper)
Ziyan Food's Q1 Net Profit Drops 71.80%
Recently, Ziyan Food released its financial report for the first quarter of this year. During the period, the revenue was 564 million yuan, a year - on - year decrease of 18.86%; the net profit attributable to the parent company was 15.2182 million yuan, a significant year - on - year decrease of 71.80%. The decline in performance was mainly due to operating pressure and the impact of the industry environment.
Xiabu Xiabu Plans to Acquire Condiment Business from Shareholder for 89 Million Yuan
Recently, Xiabu Xiabu announced that it had entered into an agreement with He Guangqi, the chairman of the board and controlling shareholder, to acquire a 40% stake in Xiabu Xiabu (China) Food Holding Co., Ltd. held by him for 89 million yuan. The company's main business is the hot - pot condiment business, and its products include soup bases and dipping sauces. It has a sales network covering 27 provinces across the country. After the completion of the transaction, Xiabu Xiabu will achieve full - scale control, and its financial performance will be fully incorporated into the group's statements. The company's after - tax net profit in 2024 was 18.5 million yuan. This transaction constitutes a related - party transaction and requires the approval of independent shareholders.
MoreYogurt's First Ranch Milk Warehouse Store Opens
Recently, MoreYogurt's official Weibo announced the official opening of its first Ranch Milk Warehouse store. The store has three ranch spaces, which are said to be the natural gene restoring the rustic texture of rural barns, the operation area where rough wood collides with delicate pottery, and the yogurt ranch with an open - style shared space design. The first - batch menu includes freshly - made cold - brewed yogurt, yogurt bagel series, light yogurt series, yogurt mochi series, and yogurt smoothie series, offering multiple choices.
Lawson Plans to Double the Number of Overseas Stores
Recently, Lawson, a Japanese convenience - store giant, announced that it plans to double the number of overseas stores from the current level to 14,000 by February 2031. This expansion will focus on the Asian market, targeting the consumption demand of the middle class brought about by economic growth. The company will achieve its goal through direct operation and cooperation with local retail enterprises. As of February 2024, the overseas sales were 114.6 billion yen, and Lawson plans to double this figure by 2031.
Meet Your Noodles Aims for Hong Kong Listing
Guangzhou Meet Your Noodles Catering Co., Ltd. (abbreviated as "Meet Your Noodles") recently submitted a prospectus and is preparing to list on the Hong Kong Stock Exchange. The prospectus shows that Meet Your Noodles' revenues in 2022, 2023, and 2024 were 418 million yuan, 800 million yuan, and 1.154 billion yuan respectively; the annual profits were - 35.97 million yuan, 45.91 million yuan, and 60.7 million yuan respectively. As of the last practicable date, Meet Your Noodles' restaurant network included 374 restaurants in 22 cities in the Chinese mainland and