{"id":191327,"date":"2024-10-07T22:05:49","date_gmt":"2024-10-07T14:05:49","guid":{"rendered":"http:\/\/www.htt.hk\/?p=191327"},"modified":"2024-10-07T22:05:49","modified_gmt":"2024-10-07T14:05:49","slug":"%e5%8e%86%e5%b3%b0%e9%9b%86%e5%9b%a2%e5%8d%96%e6%8e%89%e4%ba%86%e5%a5%a2%e4%be%88%e5%93%81%e7%94%b5%e5%95%86-ynap%ef%bc%88%e5%87%8f%e8%ae%a113%e4%ba%bf%e6%ac%a7%e5%85%83%e8%b5%84%e4%ba%a7%e6%8d%9f","status":"publish","type":"post","link":"http:\/\/www.htt.hk\/?p=191327","title":{"rendered":"\u5386\u5cf0\u96c6\u56e2\u5356\u6389\u4e86\u5962\u4f88\u54c1\u7535\u5546 YNAP\uff08\u51cf\u8ba113\u4ebf\u6b27\u5143\u8d44\u4ea7\u635f\u5931\uff09"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">10\u67087\u65e5\uff0c\u745e\u58eb\u5962\u4f88\u54c1\u5de8\u5934<strong>&nbsp;Richemont\uff08\u5386\u5cf0\u96c6\u56e2\uff09<\/strong>\u5ba3\u5e03\uff0c\u5df2\u4e0e\u5fb7\u56fd\u5962\u4f88\u54c1\u7535\u5546\u516c\u53f8&nbsp;<strong>Mytheresa<\/strong>&nbsp;\u8fbe\u6210\u534f\u8bae\uff1aMytheresa \u5c06\u6536\u8d2d\u5386\u5cf0\u65d7\u4e0b\u5962\u4f88\u54c1\u7535\u5546\u96c6\u56e2&nbsp;<strong>YOOX NET-A-PORTER\uff08\u7b80\u79f0 YNAP\uff09<\/strong><strong>100%\u7684\u80a1\u6743\u3002<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>YNAP \u8d26\u9762\u7684\u73b0\u91d1\u4f59\u989d\u4e3a 5.55\u4ebf\u6b27\u5143\uff0c\u6ca1\u6709\u91d1\u878d\u503a\u52a1\uff0c\u4f5c\u4e3a\u5bf9\u4ef7\uff0c\u5386\u5cf0\u96c6\u56e2\u5c06\u83b7\u5f97 Mytheresa \u4e3a\u672c\u6b21\u4ea4\u6613\u53d1\u552e\u7684\u5bf9\u4ef7\u80a1\uff08consideration shares\uff09\uff0c\u5360\u5176\u5b8c\u5168\u7a00\u91ca\u80a1\u672c\u7684 33%<\/strong>\u3002\u6b64\u5916\uff0c<strong>\u5386\u5cf0\u96c6\u56e2\u8fd8\u5c06\u4e3a YNAP \u63d0\u4f9b1\u4ebf\u6b27\u5143\u7684\u5faa\u73af\u4fe1\u8d37\u989d\u5ea6\uff0c\u4ee5\u6ee1\u8db3\u5176\u8fd0\u8425\u6240\u9700\u7684\u8d44\u91d1\u3002<\/strong><\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/image.luxe.co\/wp-content\/uploads\/2024\/10\/%E6%88%AA%E5%B1%8F2024-10-07-%E4%B8%8B%E5%8D%883.27.35.png?x-oss-process=image\/resize,m_fill,w_1700,h_984\" alt=\"\" class=\"wp-image-371597\"\/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">\u4ea4\u6613\u5b8c\u6210\u540e\uff0c\u5386\u5cf0\u96c6\u56e2\u6709\u6743\u63d0\u540d Mytheresa \u76d1\u4e8b\u4f1a\u6210\u5458\u548c\u89c2\u5bdf\u5458\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><em>*Mytheresa \u7684\u5b8c\u5168\u7a00\u91ca\u80a1\u672c\u5305\u62ec\u5df2\u53d1\u884c\u7684\u6d41\u901a\u80a1\u3001\u52a0\u4e0a\u7ecf\u8fc7\u6982\u7387\u8c03\u6574\u7684\u5df2\u6388\u4e88\u548c\u672a\u6388\u4e88\u7684 RSU\uff08\u9650\u5236\u6027\u80a1\u7968\u5355\u4f4d\uff09 \/ PSU\uff08\u7ee9\u6548\u80a1\u7968\u5355\u4f4d\uff09\u548c\u80a1\u7968\u671f\u6743\u8ba1\u5212\u3002<\/em><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>\u6b64\u6b21\u4ea4\u6613\u9884\u8ba1\u5c06\u4e8e2025\u5e74\u4e0a\u534a\u5e74\u5b8c\u6210<\/strong>\uff0c\u4f46\u4ecd\u9700\u6ee1\u8db3\u5e38\u89c4\u6761\u4ef6\uff0c\u5305\u62ec\u83b7\u5f97\u76d1\u7ba1\u90e8\u95e8\u7684\u53cd\u5784\u65ad\u6279\u51c6\u3002<strong>\u4e0d\u8fc7\uff0c\u8be5\u4ea4\u6613\u4e0d\u53d7\u5386\u5cf0\u96c6\u56e2\u6216 Mytheresa \u80a1\u4e1c\u6279\u51c6\u7684\u7ea6\u675f\uff0c\u5373\u4e0d\u9700\u8981\u4ee5\u4efb\u4f55\u4e00\u65b9\u80a1\u4e1c\u7684\u6279\u51c6\u4e3a\u6761\u4ef6\u3002<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u4ea4\u6613\u5b8c\u6210\u540e\uff0c\u5386\u5cf0\u96c6\u56e2\u6301\u6709\u7684Mytheresa \u7684\u80a1\u4efd\u6709\u4e00\u5e74\u7981\u552e\u671f\u9650\uff0c\u968f\u540e\u8fd8\u6709\u4e00\u5e74\u65f6\u95f4\u4ec5\u53ef\u8fdb\u884c\u7279\u5b9a\u6709\u9650\u7684\u51fa\u552e\u4ea4\u6613\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">YNAP \u65d7\u4e0b\u62e5\u6709\u6b63\u4ef7\u7f51\u7ad9 Net-A-Porter\u3001Mr Porter \u548c\u6298\u6263\u7f51\u7ad9 The Outnet\u3001Yoox\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u5386\u5cf0\u96c6\u56e2\u9884\u8ba1\u5c06\u4e3a\u6b64\u6b21\u4ea4\u6613<strong>\u51cf\u8ba1\u7ea6 13 \u4ebf\u6b27\u5143\u7684 YNAP \u51c0\u8d44\u4ea7\u635f\u5931<\/strong>\uff08\u5305\u62ec\u4e86\u51fa\u552e\u4ea4\u6613\u5b8c\u6210\u540e\u7559\u5728YNAP\u5e10\u4e0a\u7684\u73b0\u91d1\uff09\u3002\u51cf\u8ba1\u7684\u6700\u540e\u91d1\u989d\u5728\u4ea4\u6613\u5b8c\u6210\u524d\u53ef\u80fd\u8fd8\u4f1a\u53d1\u751f\u53d8\u5316\uff0c\u56e0\u4e3a\u5b83\u53d7\u5230\u591a\u4e2a\u53d8\u91cf\u7684\u5f71\u54cd\uff0c\u5305\u62ec Mytheresa \u7684\u80a1\u4ef7\u3001\u7f8e\u5143\u5151\u6b27\u5143\u7684\u6c47\u7387\u3001\u4ea4\u6613\u5b8c\u6210\u5f53\u65e5YNAP \u7684\u51c0\u8d44\u4ea7\u4ef7\u503c\u548c\u503a\u52a1\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u5b98\u65b9\u65b0\u95fb\u7a3f\u6307\u51fa\uff0cMytheresa \u7684\u6b64\u6b21\u4ea4\u6613\u65e8\u5728<strong>\u6253\u9020\u4e00\u5bb6\u5168\u7403\u9886\u5148\u7684\u591a\u54c1\u724c\u6570\u5b57\u5962\u4f88\u54c1\u96c6\u56e2<\/strong>\u3002\u4e2d\u671f\u6765\u770b\uff0cMytheresa \u5bf9YNAP\u4e1a\u52a1\u5408\u5e76\u540e\u7684\u613f\u666f\u5305\u62ec\uff1a<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>YNAP \u7684\u5962\u4f88\u54c1\u90e8\u95e8\u5c06\u5e76\u5165 Mytheresa\uff0c\u5f62\u6210\u4e00\u4e2a\u62e5\u6709\u4e09\u4e2a\u72ec\u7279\u7684\u7535\u5546\u5e73\u53f0\u7684\u96c6\u56e2\uff0c\u5305\u62ec\uff1aMYTHERESA\u3001NET-A-PORTER \u548c MR PORTER\uff0c\u57fa\u4e8e\u5404\u81ea\u72ec\u7279\u7684\u5546\u54c1\u7ec4\u5408\u3001\u5e02\u573a\u8425\u9500\u548c\u5ba2\u6237\u89e6\u70b9\uff0c\u63d0\u4f9b\u66f4\u5e7f\u6cdb\u3001\u66f4\u5dee\u5f02\u5316\u7684\u5962\u4f88\u54c1\u5546\u54c1\uff1b\u4e09\u4e2a\u5e73\u53f0\u8fd8\u5c06\u5171\u4eab\u57fa\u7840\u8bbe\u65bd\u3002<\/li>\n\n\n\n<li><strong>\u5c06\u6298\u6263\u7535\u5546\u4e1a\u52a1\uff08\u5305\u62ecYOOX \u548c THE OUTNET\uff09\u4ece\u5962\u4f88\u54c1\u90e8\u95e8\u4e2d\u5206\u79bb\u51fa\u6765<\/strong>\uff0c\u4ee5\u642d\u5efa\u66f4\u7b80\u5355\u3001\u9ad8\u6548\u7684\u8fd0\u8425\u6a21\u5f0f\uff0c\u8fdb\u800c\u63a8\u52a8\u8425\u6536\u589e\u957f\uff0c\u63d0\u9ad8\u76c8\u5229\u80fd\u529b\u3002<\/li>\n\n\n\n<li><strong>\u4e00\u65e6\u7531YNAP\u652f\u6301\u7684\u5386\u5cf0\u65d7\u4e0b\u54c1\u724c\u7ebf\u4e0a\u5546\u5e97\u4e1a\u52a1\u8fc1\u79fb\u5230\u5404\u81ea\u9009\u62e9\u7684\u5e73\u53f0\u4e0a\u540e\uff0cYNAP \u76ee\u524d\u7684\u767d\u6807\u4e1a\u52a1\u5373\u523b\u505c\u6b62\u8fd0\u8425\u3002<\/strong><\/li>\n<\/ul>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter\"><img decoding=\"async\" src=\"https:\/\/image.luxe.co\/wp-content\/uploads\/2024\/10\/%E6%88%AA%E5%B1%8F2024-10-07-%E4%B8%8B%E5%8D%883.40.46.png?x-oss-process=image\/resize,m_fill,w_1700,h_1058\" alt=\"\" class=\"wp-image-371598\"\/><\/figure>\n<\/div>\n\n\n<p class=\"wp-block-paragraph\">\u5386\u5cf0\u96c6\u56e2\u8463\u4e8b\u957f&nbsp;<strong>Johann Rupert<\/strong>&nbsp;\u8868\u793a\uff1a\u201c\u6211\u4eec\u5f88\u9ad8\u5174\u4e3a YNAP \u627e\u5230\u4e86\u8fd9\u4e48\u597d\u7684\u5f52\u5bbf\u3002Mytheresa \u662f\u7406\u60f3\u7684\u9009\u62e9\uff0c\u53ef\u4ee5\u57fa\u4e8e YNAP \u7684\u8d44\u4ea7\uff0c\u7ed3\u5408\u4e24\u5bb6\u516c\u53f8\u5404\u81ea\u7684\u4f18\u52bf\uff0c\u8fdb\u4e00\u6b65\u4e3a\u5168\u7403\u5404\u5730\u7684\u5ba2\u6237\u548c\u54c1\u724c\u5408\u4f5c\u4f19\u4f34\u63d0\u4f9b\u6109\u60a6\u7684\u4f53\u9a8c\u3002\u201d<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Mytheresa \u7684\u9996\u5e2d\u6267\u884c\u5b98&nbsp;<strong>Michael Kliger<\/strong>&nbsp;\u5728\u4ea4\u6613\u5ba3\u5e03\u540e\u7684\u7535\u8bdd\u4f1a\u8bae\u4e0a\u6307\u51fa\uff1a \u201c\u4eca\u5929\uff0c<strong>\u4e00\u4e2a\u5e74\u4ea4\u6613\u989d 30\u4ebf\u6b27\u5143\u7684\u5962\u4f88\u54c1\u6570\u5b57\u5e73\u53f0\u8bde\u751f\u4e86<\/strong>\u3002\u6211\u4eec\uff08Mytheresa \uff09\u6700\u8fd1\u62a5\u544a\u7684\u5e74\u4ea4\u6613\u989d\uff08GMV\uff09\u4e3a9\u4ebf\u6b27\u5143\uff0c Net-a-Porter \u548c Mr Porter \u5408\u5e76\u7684\u5e74\u4ea4\u6613\u989d\u4e3a 12\u4ebf\u6b27\u5143\uff0c\uff0cYoox \u548c The Outnet 9\u4ebf\u6b27\u5143\u3002\u201d \u4ed6\u8868\u793a\uff1a\u201c\u6211\u4eec\u7684\u613f\u666f\u662f\u672a\u6765\u4e94\u5e74\u5185\uff0c\u5c06\u8fd9\u4e2a\u5e73\u53f0\u7684\u4ea4\u6613\u89c4\u6a21\u589e\u957f\u5230 40\u4ebf\u6b27\u5143\uff0c\u5e76\u5b9e\u73b0\u9ad8\u5355\u4f4d\u6570\u7684 EBITDA \u606f\u7a0e\u6298\u65e7\u644a\u9500\u524d\u5229\u6da6\u7387.\u201d<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">YNAP \u81ea2018\u5e74\u88ab\u5386\u5cf0\u96c6\u56e2\u6574\u4f53\u6536\u8d2d\u540e\uff0c\u8868\u73b0\u4e00\u76f4\u4e0d\u5c3d\u5982\u4eba\u610f\uff0c\u59cb\u7ec8\u672a\u80fd\u626d\u4e8f\u4e3a\u76c8\u3002<strong>\u81ea2023\u8d22\u5e74\u4e0a\u534a\u5e74\uff082022\u5e744\u67081\u65e5-9\u670830\u65e5\uff09\u8d77\uff0cYNAP \u5c31\u88ab\u5217\u4e3a\u201c\u5f85\u552e\u201d\u72b6\u6001\uff0c\u4e1a\u7ee9\u4e0d\u518d\u5e76\u5165\u96c6\u56e2\u4e4b\u5185\u3002<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">2023\u5e74\u5e95\uff0c\u7531\u4e8e\u9677\u5165\u8d22\u52a1\u5371\u673a\u7684\u82f1\u56fd\u5962\u4f88\u54c1\u7535\u5546 Farfetch \u88ab\u97e9\u56fd\u96f6\u552e\u5de8\u5934 Coupang \u6536\u8d2d\uff0c\u6b64\u524d\u5386\u5cf0\u96c6\u56e2\u4e0e Farfetch \u548c\u963f\u8054\u914b\u4f01\u4e1a\u5bb6 Mohamed Alabbar \u540d\u4e0b\u6295\u8d44\u673a\u6784 Symphony Global \u4e8e2022\u5e748\u6708\u8fbe\u6210\u7684\u8054\u5408\u6536\u8d2d\u534f\u8bae\u201c\u65e0\u6cd5\u5151\u73b0\u201d\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u4eca\u5e744\u6708\uff0c\u6709\u5e02\u573a\u6d88\u606f\u79f0\u5386\u5cf0\u96c6\u56e2\u6709\u610f\u91cd\u542f\u5206\u62c6 YNAP \u7684\u5de5\u4f5c\uff0cMytheresa\u3001\u82f1\u56fd\u65f6\u5c1a\u96f6\u552e\u96c6\u56e2 Frasers Group\u3001\u79c1\u52df\u80a1\u6743\u6295\u8d44\u516c\u53f8Permira\u3001Bain Capital\uff08\u8d1d\u6069\u8d44\u672c\uff09\u7b49\u90fd\u662f\u6f5c\u5728\u7684\u7ade\u8d2d\u65b9\u3002<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u521b\u7acb\u4e8e 1987\u5e74\uff0cMytheresa 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