文 | 娱乐资本论 李静林

zhongchansanbao：maotai、diaoyu、shizuniao。

bujiuqianshizuniaomugongsiyamafengongbule2024niandiyijiducaibao，shizuniaogouchengleyamafendejibenpan，zhongguoshichang（dazhonghuaqu）zeshishizuniaodezhongliudizhu。zaiyipianxiaofeixiachendequshizhong，zhongguozhongchanchengqileyamafenbanbiantian。

shujuxianshi，2024niandiyijiduyamafenyingshou11.83yimeiyuan，tongbizengzhang13%，qizhongfushiyewushourutongbizengzhang44%zhi5.1yimeiyuan，huwaichanpinyewushouruzengzhang6%dadao4yimeiyuan，qiupaiheqiuleiyewuyijidushouruxiajiangle14%zhi2.73yimeiyuan。

yishizuniaoweizhudejishufushiyewugongxianlegongsizhuyaodezengzhang。yamafenzaicaibaozhongbiaoshi，yijidushizuniaopinpaizaigediqu、qudao、xiaofeizhequntihechanpinleibiezhongzhanxianqiangjingshitou。yamafentiyushouxicaiwuguanandrew pagezaidianhuahuishangzhiyan，“womenqixiashizuniaopinpaizhengyixunmengdesuduzengzhang，qiyouyidecaiwubiaoxiantishengleyamafentiyudezhengtizengzhangheyinglinengli。”

jingmingdeyingxiaorangzhongchanquzhiruowu，antajieruzhihouchenggongdejingyingzhuanxing，pingjunjiagezai4000dao6000yuandedingshehuwaipinpai，chengweidimixiaofeishichangzhongdeyiguniliu。zhengzhi618，bushaopinleihedarenxiaoliangmingxianxiahua，gefangyalipoda。buguocongpingtaifabudezhanbaolaikanshizuniaoshoudaodeyingxiangsihubuda，kaimai4xiaoshi，zaizengsuzuikuaidejinkouyundongpinpaizhongshizuniaobangshangyouming。tongshishizuniaodeyejiyeanheshechipinxiaoshouyiranqiangjingdexianzhuang，2023nianquanqiudianwangbeijingskpxiaoshouewei265yiyuan，jiao2022niande239yiyuanzengzhang10.8%。

shizuniaojiangchuyizeyuchuantongyundongpinpai、yinghehuwaipinpaidoubutongdegushi。antajiezheshizuniaozouxiangguochanyundongpinpaidouweicengchumoguode“shechi”shichang，shizuniaoyezaiantabangzhuxia，tongguokaidadian，zuozhiyingdengfangshizhaodaolejingyingzhongguoshichangdemendao。

始祖鸟到底有多火？

dangyundongpinpaifenfenshoujinzhendi，zhudazhuanyeyundongrenqunshi，shizuniaozouleyitiaopoquanzhilu。chuanshanyuelingdegongnengxingfuzhuang，rujinchengweigongwuyuanheshangwurenshiderichangbibeichuanda。daigoushichangliuchuanzheiyangyijuhua，putongdaigoujiuzhuangeguoneiwaizhuanjuchajia，danshizuniaodaigouyoushinengzhuandaoyijia，shenzhihaidanshengzhuanyoumingci“niaofan”，youdeniaofanyigeyuenengzhuansiwankuaiqian。

jinnianchu，shizuniaoyuanjia8200yuandelongnianxiandingchongfengyibeichaodao12000yuan，yiranyijiannanqiu，duokuanchanpinzhangqichuyuquehuohuoshouqingzhuangtai，congbudazhedeshizuniaohuodeyitahutu。shujuxianshi，2018nianshizuniaozaizhongguojinyou1.4wanminghuiyuan，jiezhi2023nian9yue，zheiyishujuyijingkuangbiaozhi170wan。zheiqijianshenzhijiadaisannianyiqing，jiannandewaibuhuanjingbingmeiyouzudangshizuniaodegaosuzengzhang。

yamafendeyewufenweisankuai，jishufuzhuang、huwaizhuangbeiyijiqiuleijiqiupaizhuangbei，sandayewuduiyingleyamafensandazhulipinpaishizuniao、saluomengheweierxun，lingwaixiangbikefeng（peak performance）dengpinpaishouruzhanbijiaoxiao。

2024diyijidusandayewudeshourufenbiewei5.1yi、4yihe2.73yiyuan，yishizuniaoweidaibiaodejishufuzhuangyewubudazhang44%，bingqiezaizongshouruzhongdezhanbidadao43%。shizuniaohaowuyiwenshiyamafenhexinpinpaizhongdehexin。bashijianlazhang，2020niandao2022nian，shizuniaodeshourucong5.47yimeiyuanzengzhi9.52yimeiyuan，zhangfudadaole74%，2023nianqian9geyuejiushixianle9.41yimeiyuandeshouru。

2020-2023nian，yamafenshourufenbiewei24.46yimeiyuan、30.67yimeiyuan、35.49yimeiyuan，43.68yimeiyuan；2021—2023nianyingshouzengzhangfenbiewei25.39%、15.72%、23%。yucitongshi，2023nianyamafenkuisunshouzhaizhi2.53yimeiyuan。2019nian，antajieshoudiyinian，yamafenquanniankuisungaoda16yimeiyuan。

fendiqukan，jinguandazhonghuaqu（baohangangaotaidiqu）shourupaimingdisanwei3.1yiyuan，dantongbizengfugaoda51%，yataidiqushouruzengfudadao34%。shouruzhanbizuigaodeemea（ouzhou、zhongdonghefeizhou）zhiyou1%dezengzhang，meizhoudeshouruzeyuquniantongqichiping。zhengge2023cainian，dazhonghuaqushouruwei8.41yimeiyuan，tongbizengfugengshigaoda61%，qizhongshizuniaoyigepinpaigongxianbachengyingshou。

zhongguoshichangchengqishizuniao，shizuniaoladongyamafen。

yaokeyanjiuyuanyuanzhangzhoutingbiaoshi，zaiguoneishizuniaozoudeshiyizhuanyeyundongweijichudedazhonghuashishanghuayundongluxian，zaiguowaishizuniaozoudeshigaoduanzhuanyeyundongluxian，qianzhebihouzhehenmingxiankequngengguangfan。zheiyeshishizuniaozaizhongguoshichangyijihaiwaishichangbiaoxianbinghuoliangzhongtiandezhongyaoyuanyin。zishenhuwaixingyecongyezhejiuzhiyan，“shizuniaohesalomonzhengzaizhubufangqizhuanyehuwaiqudao”。

shizuniaodechenggongdangranlibukaizheixienianyundonghuwaifengdeliuxing，danpinpaijianlishenfenrentonghejiecengbiaoqianjuebuhuiyilailiuxingfengchao。jiuxiangantachuangshirendingshizhongyizhirenweide，chanpinkeyibeixunsuzhizaochulai，danpinpaibuxing。

muqianzaishizuniaomendianyijinghenshaojiandao2000yuanyixiadedanpin。dengshanluyingbenjiushizhongchanjiejipanbibiaobanggaoduanshenghuofangshidexiangzheng，shizuniaolizuhuwaiyundongsaidao，miaozhundeshizhongchanxiaofeirenqun，yigaojiagegaozitai“fanmai”taiduhegaoduanshenghuofangshi。moteliuwenzai2020nianchengweipinpaishougedaiyanren。liuwencengdaiyanbaogeli、chanel、guccidengduogeshechipinpai，shizuniaojiangzijiyuzheileishechipinpailadaotongyiweidu。dang“huwai”he“aimashi”lianggebiaoqianfangzaiyiqi，shizuniaojiuyijingconghuwaixiaoquancengtiaolechulai，chengweiyizhonggaoduanshenghuofangshidexiangzheng。

ciwai，shizuniaocengribenchaoliupinpai beams、yingguohuabanpinpaipalace、yingguoshejishipinpaigreater goodsdengtuichulianmingxilie，yecengliangxiang《duye》dengdianying。zhongzhongjudongdoushiweiletiejinshishang、nianqingren。

gaoduanhuwai—lianjieshishang—yongshenghuofangshibangdingzhongchanqianbao，shizuniaozouchuyitiaoxiangshangdepoquanzhilu。

zhengyinruci，shizuniaozaizhongguodeguanlituanduiyechengxianchuzhuanyeshuxingdijiandequshi。

shizuniaozaizhongguojinglilejingxiaoshang、yamafenzhongguodaoantasangefazhanjieduan。2000nianzuoyouyinruzhongguoshi，shizuniaodujiajingxiaoshangtuanduihexinyuangongjihudouyouhuwaiaihaozhegoucheng，panyan、tanxianaihaozhe，motuochesaishou，huozheconggeergongsi（gore-texpinpaimugongsi）zhuantouerlai。

daoyamafenzhongguoshiqi，tuanduizhongbianchuxianlecongkekoukelegongsiwalaidecto，pinpaiguimozaibianda，gongsiduigongyinglian、jingxiaoshangdengfangmiandeguanlixuyaogengjiazhuanye，duixiaoshou、shichangfangmianderencaixuqiugengda，2011niandao2018nian，yamafenzaizhongguoshichangdeshouruguimozengjiale10bei。

zhizhi2019nianbeiantashougou，shizuniaoyijiyamafenzoushanglekuaichedao，dantuanduigouchengyuhuwaiyundonggengjiajianxingjianyuan。

antashijiangshizuniaotuixiangzhongchanbibeichuandadetuishou。

2023nian，antajinxinglezuzhijiagoudadiaozheng。dingshizhongxierenjituanceo，zhengjiexierenantajituanzongcai。yamafenconghuwaiyundongpinpaiqunduli，yuanhuwaiyundongpinpaiqunceozhengjiechengweiyamafenjituanzhixingdongshijian ceo ，antazhupinpaijiaojiyuanshizuniaodazhonghuaquzongjinglixuyang。filafuzerenyaoweixiongzhijiexianglianxi ceo wuyonghuahuibao。

dangshichushangshiguanjianjiedian，yamafenzaiantatixizhongdeyouxianjibeixianzhutisheng。

baantaduiyamafendegaizaofenweilianggejieduan，diyijieduanshixuyangzhudaodeshangshiqiansannian，yamafenzaizhongguoshichangwanchengfeiyue，dierjieduanzeshishangshiguochengzhongjizhihou，zhengjiechengweihexin。congzheilianggejieduan，womennengkandaoantashiruheyibubugaizaoyamafende。

xuyangzuoyingxiaochushen，2006nianjiaruantaqianzaiguanggaogongsigongzuo，zaitadanrenshizuniaozhongguoquzongjinglisannianshijian，pinpainianshourucong200wanyueshengdaoyiyi。zaishizuniaopinpaikaijiangtuotujianlirenzhijieduan，yingxiaorendezuoyongshimingxiande。

xuyangcengduishizuniaotichusandazhanlve：genghaodexingxiang、gengdadeguimohegengdidelouceng。zongjieqilaijiushikaidadian，zuozhiying。

xuyanggangshangrenjiumouhuazhekaichudaibiaopinpaixingxiangdeqijiandian，arc'teryx alpha centerluohushanghaihuaihailu，zhouweishidifuni、aimashidengpinpaineidizuidaqijiandian，dianneishijixiaoshouchenliedemianjizhizhan50%，yuxiadekongjianliujipinpaigushi。jubaodaozheijiadianpunianzujinchaoguoqianwan，buguoxuyangrenweizheigediduandepinpaiguanggaojiuzhi1000wan。

zaibeijing，shizuniaodianpubianbucuntucunjindegaoduanshangquan，wangfuzhonghuan、jinrongjiegouwuzhongxin、guomao、sanlitun、skpdeng，shenbianhuanraoprada、burberrydengguojiyixianpinpai。

shizuniaocengbiaoshi，gaoduanpinpaidianweishizuniaotigongyuxiaofeizhehudong、zhanshichanpinhejianlishequdezhongyaokongjian，dianpumianjiyibanzai1000zhi10000pingfangyingchi(yuehe93pingfangmizhi930pingfangmi)zhijian。suiranda，shenzhikongjianmeiyouwanquanyonglaichenliechanpin，dandianxiaobudi，jiezhi2023nian9yue30ride12geyue，quanqiumeipingfangyingchipingjunxiaoshouepingyue1474meiyuan。

jinnian1yue，shizuniaozaishanghaihuidefengguojiguangchangkaishepinpaizaiquanqiuzuidadeyuanshengtaitiyanqijiandianshizuniaobowuguan，sicengzongmianjiyue2400pingfangmi。zhengjiebiaoshi：“zheijiaqijiandiandaibiaopinpaizuigaoshuipingdelingshouyetai，yezaishichangshangyinqilejudadehongdong。yujizheijiadiandiyiniandeyingyeejiangchaoguo2000wanmeiyuan。”

zhongguogengshishizuniaokaidiandehexinquyu，caibaoxianshi，jiezhi2023nianmoshizuniaozaidazhonghuaquziyoulingshoudian64jia，beimei51jia，ouzhoujinyou6jia，2019nianzhi2023nian，shizuniaozaidazhonghuaquxinzeng20jiamendian，tongqibeimeizhizengjiale23jia。

zaishizuniaoshenshang，antatongyangjichukanjiabenshi——dtczhuanxing。2024niandiyijiducaibaoshujuxianshi，yamafendtcyewushourutongbizengzhang41%zhi4.89yimeiyuan，zaizongyingshouzhongzhanbichaoguosicheng。yamafenzaiyijidugequyushichangde dtcyewujundadaoleliangweishuzengzhang，eryuzhixiangduiyingde，zeshipifaqudaoshouruxiahua1%。yishizuniaoweizhudejishufuzhuangyewuyijidudtcqudaoshourutongbizengzhang46%。

caibaodianhuahuishang，yamafenbiaoshi：“sinianqianwomenzhuanxingzhipinpaizhiyingmoshi，zhijinrengranshiwomenyinglizengzhangdeqiangdadongli。”

dtcyewuguimokuodatishengleyamafendemaolilvshuiping，2024niandiyijidumaolilvwei54.3%，quniantongqizhiyou53.2%。caibaozhongmingquebiaoshimaolilvdetishenghendachengduyuanyujishufuzhuangyewu，shisuoyouyewuzhongmaolilvzuigaode。buguoyouqudeshiyigaokedanjiazhuchengdeyamafenmaolilvshangbujiantazhupinpai（54.9%），gaoangdechengbenshizhuyaoyuanyin，2020nianzhi2023nianqijian，yamafenxiaoshouchengbenfenbiewei12.97yimeiyuan、15.61yimeiyuan、17.85yimeiyuan、20.92yimeiyuan。gaoduanyeyiweizhegaotouru。

yamafenshangshihouzoushanglepingwendekuaichedao，zaizhengjiezhixiadajianlequanqiuhuaguanlituandui。

shizuniaoceo stuart c. haseldencengzailululemonzuodaoshouxiyunyingguanjianguojizhixingzongcai；shouxiyunyingguanmichael hauge s rensencengzaidanmaixielvpinpairenzhijin20nian；shouxicaiwuguanandrew pagecengshimeiguoyundongxiefulingshoujutoufoot lockerdecfo；shouxizhanlveguanvictor chenciqianshiboshidunzixunjituanhehuoren。

xiayijieduanbaizaiyamafenmianqiandedaketishiquanqiuhua，zheiyeshiantashougouyamafendetizhongyingyouzhiyi，xianranmuqiandechengjishibugoude。

wulunyingshouzengzhangxinghaishidianpuguimo，yamafenzaihaiwaishichangdechengjidouyuanxundazhonghuaqu，ruguoxianzaijiantashougouyamafenzuochujieduanxingpingjia，tamenzhiwanchengleyibandegongzuo。jinguanantayijingchengweinaike、adidasizhihouquanqiudisandayundongpinpai，shiguoneishichangdejueduilaoda，danqiguojiyingxianglirengxunyuqianzhe。

haiwaishichang，shizuniaodedingweiyiranquanzaiyinghehuwaixiaozhongfanweili，napaoumeihuwaiyundongshentoulvyuangaoyuzhongguo，danrenqunyiranyouxian，qieyaomianduidejingzhenggengda。

oumeizhongchanshangwurenshijinxieniandechuandazhengzaicongyansuzhengzhuangxiangxiuxianyundongzhuanbian，shizuniaozhishizhongduoxuanzezhongdeyige。liruallbirds，bianshiyouguiguchuangtouquanjingyingdaihuodeyundongpinpai，gugelianchuanglalipeiqi、pingguoceokuke，shenzhiqianzongtongaobamadoushigaipinpaifensi。tongshuyinghehuwaizhuangbei，patagoniazaihaiwaishichangduishizuniaodejingzhengyuangaoyuguonei，qianzhezaizhongguomendianbujuzhiyouliangweishu，bushaofensihaiyaotongguodaigoufangshimairu。zaihaiwai，beisuosi、rui·dalioudengdalaodoushipatagoniadefensi。

lingwairusaluomeng，zuijinjinianhaiyaomianduiangpao、hokadengxinruipinpaidejingzheng。

dingshizhongcengshuo：“zhongguoshichangbudaibiaoquanbushichang，chuhaishiguochanpinpaidebiranxuanze，yeshibukebimiandetiaozhan。”qitapinpaifila、disangte、kelong，antashougoudejinjinshizhongguoqujingyingxiaoshouquan，duiyamafenzecanyudaozhenggeguojipinpaiyunyingzhong，kejianyamafenchengdanleantaguojihuadehexinrenwu。

kexiyeyouyouhuan，antaduiyamafendegaizaohaizailushang。