The first store of Pop Mart Jewelry opens; 100 stores of Yonghui have completed the adjustment following the "Fat Donglai model"; Starbucks China cuts prices | Brand Weekly Report
Big News
The First Store of Pop Mart's IP Jewelry Brand Opens
Pop Mart's business territory continues to expand.
On June 13, the world's first store of popop, an independent jewelry brand under Pop Mart, opened at Grand Gateway 66 in Shanghai. The store features jewelry from popular IPs under Pop Mart, such as HIRONO, SKULLPANDA, MOLLY, CRYBABY, and LABUBU, with prices ranging from 319 to 2,699 yuan.
Wang Ning, the founder of Pop Mart, said, "We've always hoped to explore more possibilities through different product categories. Jewelry is a very important category we've been trying."
It is reported that popop is targeting the global $50 billion fashion jewelry market. With its existing user base of 70 - 75% female customers and the strength of its IP brands, it is expected to gain a larger share in the European and American markets.
Recently, thanks to popular IPs like labubu, Pop Mart's stock price has been rising continuously. As of the close on June 13, its market value reached over HK$360 billion, and Wang Ning has become the richest person in Henan.
At a recent earnings briefing, Wang Ning announced the core performance target for 2025: to achieve a growth of over 50% based on 2024's performance and reach a total revenue target of 20 billion yuan; the overseas market will become the second growth curve, with an overseas revenue target of 10 billion yuan in 2025.
Inditex, the Parent Company of Zara, Fails to Meet Earnings Expectations
Recently, Inditex, the parent company of Zara, released its sales figures for the first quarter of 2025 and the early - summer sales situation, both of which failed to meet expectations.
Inditex's revenue in the first quarter ended April 30 was 8.27 billion euros, lower than analysts' expectations of 8.36 billion euros. The net income in this quarter increased by 0.8% to 1.3 billion euros. Inditex did not explain the slowdown in sales growth.
The company also announced that the summer sales started slowly. From May 1 to June 9, at constant exchange rates, sales only increased by 6%, compared with a 12% increase in the same period last year at constant exchange rates.
During the reporting period, the Inditex Group has always focused on four key areas: unique fashion propositions, further improving the customer experience, sustainable development, and talent development.
In the first quarter of 2025, Inditex opened new stores in 26 markets around the world. As of the end of this quarter, Inditex operated a total of 5,562 stores.
Inditex owns multiple brands such as Zara, Pull & Bear, Bershka, and Massimo Dutti, which widely cover young people and the middle - class consumer group. Its performance has always been regarded as a barometer of global retail consumption. The signals released in this earnings report are not only challenges at the company level but also indicate that the overall high - growth era of global clothing retail is coming to an end.
Inditex's competitors also had a sluggish spring. H&M's sales have been continuously sluggish, with only a 1% increase in March, compared with a 4% increase in the same period last year. The revenue from December 2024 to February 2025 increased by 2%, lower than analysts' expectations.
Yonghui Supermarket Completes the Transformation of 100 Stores in the Style of Fat Donglai
On June 13, Yonghui Supermarket completed the transformation of 100 stores across the country in the style of Fat Donglai, and the Jiangning Wanda Plaza store in Nanjing, Jiangsu officially opened.
Wang Shoucheng, the vice - president of Yonghui Supermarket and the person - in - charge of the national transformation project, said that the achievements of Yonghui Supermarket's transformation in the style of Fat Donglai in the 100 - store stage are mainly reflected in the upgrading and transformation focusing on three major aspects of "people, goods, and the shopping environment": in terms of "people", improving employees' professional skills and work enthusiasm, so that Yonghui's employees can upgrade from "service providers" to "retail craftsmen" who can realize self - worth; in terms of "goods", gradually achieving the quality leap of Yonghui from "cost - effectiveness" to "quality - cost ratio"; in terms of "the shopping environment", upgrading Yonghui from a "retail space" to a "quality living center", making it a national quality supermarket more suitable for mainstream Chinese families.
She Xianping, the Chief Merchandising Officer (CMO) of Yonghui Supermarket, responded for the first time to the transformation in the style of Fat Donglai in terms of merchandise. "Yonghui Supermarket will comprehensively learn from and benchmark against Fat Donglai in terms of product quality and prices, and construct a product matrix with high quality - cost ratio and diversified characteristics from aspects such as quality and emotion."
On June 19, 2024, the first store of Yonghui Supermarket transformed in the style of Fat Donglai - Zhengzhou Xinwan Plaza store opened. From the first store to the 100th store, Yonghui is firmly learning from Fat Donglai to build a "new Yonghui". Since the start of the transformation, in the past year, Yonghui's transformation in the style of Fat Donglai has gone through three stages: the assistance and transformation by the Fat Donglai team from May to August 2024, the guidance and transformation by the national transformation group from September to December 2024, and the independent transformation by the national regions after the Spring Festival in 2025.
It is estimated that by the end of July, the number of Yonghui Supermarket's transformed stores across the country will exceed 150, and the goal of transforming 300 stores will be completed before the Lunar New Year in 2026.
L'Oréal to Acquire Skincare Brand Medik8
Recently, L'Oréal Group announced that it has reached an agreement with the British professional skincare brand Medik8 to acquire a majority stake in the company. The transaction is still subject to regulatory approval and is expected to be completed in the next few months. Financial terms have not been disclosed.
L'Oréal said in a statement that this acquisition will strengthen its luxury product portfolio. Medik8 has established a brand image of high - efficacy and affordable products globally with its professional advantages in active ingredients such as retinol and vitamin C, and is considered a leader in the efficacy - based skincare segment.
Medik8 was founded by scientist Elliot Isaacs, positioning itself as a combination of clinically - verified and scientific skincare. It has performed excellently in both beauty clinics and retail channels in the UK. Its Crystal Retinal anti - aging serum launched in 2018 has become the number - one facial serum in the UK.
Some analysts said that Medik8 seems to be more in line with L'Oréal's Active Cosmetics division, alongside La Roche - Posay and CeraVe. However, L'Oréal clearly stated that Medik8 will be incorporated into its luxury products division, which implies a strategic shift. Luxury high - end skincare is becoming more efficacy - oriented. In recent years, L'Oréal has been continuously expanding its skincare business, especially looking for new growth in the efficacy and luxury directions.
In September 2023, L'Oréal acquired the Australian beauty brand Aesop from Brazilian Natura for $2.5 billion. After the acquisition, Aesop was also incorporated into L'Oréal Group's luxury products division. In addition, L'Oréal Group's luxury products division also owns traditional luxury brands such as Helena Rubinstein, Lancôme, Giorgio Armani Beauty, and YSL Beauty.
Starbucks CEO Says He's "Not in a Hurry" to Sell Stake in Chinese Business
"Starbucks is considering selling a stake in its Chinese company."
Starbucks CEO Brian Niccol said in a recent interview with the Financial Times that the plan is to attract external investors and restore its growth in China.
"The good news is that we've attracted a lot of (investors') interest - a lot of interest," he said. "People see the potential of the Starbucks brand, they see the growth of the coffee category. I think they'd be happy to partner with us to explore how to increase the number of stores from 8,000 to 20,000."
The report also quoted "people familiar with the matter" as saying that some Chinese and global private equity firms and strategic investors have considered taking a stake, but they warned that the process is still in its early stages; Goldman Sachs is leading the process.
Brian Niccol declined to say which potential investors have shown interest but said his company plans to "give it a try and see if there's a reason to find a partner." He added that Starbucks is not in a hurry: "We'll let things take their course."
New Product Launches
Lettea and JD.com Jointly Launch "Orange C Oolong Tea", with Brand Ambassador Hou Minghao Making an Appearance
On June 13, Lettea and JD.com joined hands again to launch the limited - edition "Orange C Oolong Tea" for the channel. The new product continues Lettea's signature "sugar - free + vitamin C" healthy formula for sugar - free fruit tea. It uses high - mountain oolong tea from altitudes above 800 meters, paired with sweet and sour orange aroma. Each bottle contains 90mg of vitamin C, with 0 sugar and 0 calories, aiming to provide a refreshing and guilt - free experience. This cooperation is another in - depth co - branding effort between Lettea and JD.com after the "Osmanthus Oolong". Through JD.com's precise user - reaching ability, brand ambassador Hou Minghao helps to achieve an innovative marketing model of "star resources + channel - exclusive products".
Lettea
lululemon Launches the Second Season of the SLNSH Designer Collaboration Collection
Recently, lululemon collaborated with London - based designer Saul Nash to present the 2025 summer SLNSH designer collaboration collection. The key design features of this season include: using multi - layer mesh fabrics to create a sense of airflow, such as the Mesh men's sports mesh zip - up jacket, where the outer slightly transparent mesh fabric is skillfully spliced with the inner WovenAir fabric, ensuring lightness and breathability even in the hot summer; integrating functional fabrics and dynamic silhouettes to balance performance and style, such as the Swift women's two - in - one shorts. The outer layer uses Swift fabric with four - way stretch for more freedom of movement, and the inner layer uses Everlux™ fabric with added Lycra® spandex for comfort and moisture - wicking.
Nongfu Spring Launches Carbonated Tea Drink "Ice Tea"
Recently, Nongfu Spring launched a carbonated tea drink called "Ice Tea". With "100% real tea extraction" as the core process, each bottle contains at least 200mg of tea polyphenols, and it also achieves "0 addition" of potassium sorbate, sucralose, and tea powder. Using the same aseptic cold - filling technology as Oriental Leaf, it combines abundant carbonated bubbles with lemon fragrance. This 600ml product enters the market with an online launch price of 19.9 yuan for 4 bottles, with a single - bottle price of 5 yuan. To meet the trend of healthy consumption, Ice Tea uses the natural sweetener erythritol to achieve "0 sugar, 0 fat, 0 calories", while also meeting the triple standards of "0 potassium sorbate", "0 sucralose", and "0 tea powder".
The Tenth Ski Resort under Miracle Snow Opens
Recently, Zhengding Miracle Snow, one of the largest indoor ski resorts in North China, held a ticket - opening ceremony and will officially open on July 6. The ski resort covers an area of over 30,000 square meters, equivalent to 4.2 standard football fields. It is also equipped with beginner and intermediate ski slopes with a total length of 385 meters, a terrain park, and a 3,600 - square - meter ice and snow park. The maximum vertical drop is 46 meters, and the maximum slope is 13 degrees, which can meet diverse needs such as professional competitions, public skiing, and parent - child snow entertainment. This project is the tenth ski resort under Miracle Snow to open. It was invested and built by Shenzhen International Holdings Limited and is operated and managed by Miracle Snow. It is the main business form of Shenzhen International Zhenyue World, the first domestic "logistics + commerce" new - type industrial and urban complex.
Marketing News
Fruits Ripe Sugar - Free Tea Collaborates with My Own Swordsman
On June 13, Fruits Ripe sugar - free tea announced its collaboration with My Own Swordsman. Customers who buy Fruits Ripe sugar - free tea drinks can get My Own Swordsman - related peripherals, including character stickers, collectible ticket stubs, luggage tags, etc. These products can be purchased on Taobao. At the same time, online lucky draws, offline co - branded theme stores in Xi'an, and pop - up events are also set up.
At the recently held FBIF2025 Product Development Forum, Chen Miao, the co - founder of Fruits Ripe, revealed that in the past year, the annual sales volume of Fruits Ripe sugar - free tea has increased from 200 million bottles to 400 million bottles.
It is reported that Fruits Ripe breaks young people's stereotypes about tea - drinking through innovations in taste and bottle design. When developing products, it uses the combination of Chinese tea and Chinese flowers to solve the problem of the bitter taste of sugar - free tea drinks. It also pioneered the flat - square bottle packaging design.
HELLY HANSEN Appoints Wang Yibo as Global Brand Ambassador
Recently, Norwegian high - end outdoor brand HELLY HANSEN officially announced that young actor and singer Wang Yibo will be its global brand ambassador, starting a new era of all - around outdoor exploration with the spirit of "Beyond the Horizon, Alive with Adventure (Further, Alive)". From the vast sea to the majestic snow - capped mountains, from the wild mountains to the urban streets, HELLY HANSEN inherits a century - old nautical gene, using courage as the sail and technology as the escort, and continues to deeply cultivate three major scenarios: sailing, skiing, and outdoor activities.
In October 2021, HELLY HANSEN and Youngor Group announced the establishment of a joint - venture company, "Helly Hansen Anli (Shanghai) Business Management Co., Ltd.", with the latter being solely responsible for the operation and production of the HELLY HANSEN brand in the Greater China region (including Hong Kong, Macao, and Taiwan).
HELLY HANSEN is an important step for Youngor Group to refocus its strategic center on the fashion clothing business, achieve multi - brand development, and target the high - end clothing retail market.
What's More
Dr. Martens' Annual Revenue Drops by 10%
Recently, British footwear brand Dr. Martens announced its financial results for the fiscal year 2025. Net revenue decreased by 10% year - on - year to 790 million pounds, lower than 880 million pounds in the previous fiscal year. Net profit shrank significantly, recording only 4.5 million pounds, showing a significant decline compared with 69.2 million pounds in the same period last year. However, the company's net debt decreased from 360 million pounds to 250 million pounds.
In terms of channels, direct - to - consumer revenue decreased by 4.2% to 500 million pounds, and the wholesale business dropped by 19.5% to 280 million pounds. By region, revenue in the EMEA region decreased by 11%, in the Americas region by 11.4%, and in the Asia - Pacific region, it was relatively stable with only a 3.8% decline.
Saizeriya to Set Up a Chinese Headquarters in Guangdong
Recently, the "Japanese Enterprises' Visit to Guangdong" business service industry docking meeting was held in Guangzhou. Miyamoto Noruaki, the general manager of Guangzhou Saizeriya Catering Co., Ltd., said at the meeting that Guangdong is an extremely important business area for the Saizeriya Group. In 2003, Saizeriya opened its first store in the Chinese mainland.