泡泡玛特挖来69岁LV高管，潮玩圈要变天？

潮新闻2025-12-11

潮新闻客户端记者滕一韬俞叶波实习生童一诺自今年8月股价触及高点以来，潮玩龙头泡泡玛特（HK9992）的市值缩水风波持续发酵，累计跌幅已达约44%，总市值蒸发超2000亿港元（约合人民币1800亿元），引发资本市场高度关注。截至12月10日收盘，泡泡玛特报收每股193.40港元，总市值2597.30亿港元。就在市值承压的关键节点，国内潮玩龙头泡泡玛特甩出重磅人事“王炸”。12月10日，...

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change?","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"09992":1.97,"PMRTY":1.97},"content_text":"潮新闻客户端 记者 滕一韬 俞叶波 实习生 童一诺自今年8月股价触及高点以来，潮玩龙头泡泡玛特（HK9992）的市值缩水风波持续发酵，累计跌幅已达约44%，总市值蒸发超2000亿港元（约合人民币1800亿元），引发资本市场高度关注。截至12月10日收盘，泡泡玛特报收每股193.40港元，总市值2597.30亿港元。就在市值承压的关键节点，国内潮玩龙头泡泡玛特甩出重磅人事“王炸”。12月10日，泡泡玛特发布公告，宣布前LVMH大中华区集团总裁吴越出任公司非执行董事，与此同时原非执行董事何愚因个人工作安排辞任。这场“奢侈品圈老将牵手潮玩新贵”的跨界联动，不仅迅速登上社交平台热搜，更被市场视为泡泡玛特锚定高端化、破局增长瓶颈的关键一步。这位新董事的履历备受瞩目。现年69岁的吴越，拥有约克大学国际关系与人文科学学士学位及舒立克商学院国际商务与市场营销硕士学位。自2005年11月起，他长期担任LVMH集团大中华区总裁，负责监督该集团旗下多品牌组合在中国市场的业务，是奢侈品行业在华发展的标志性人物之一。在此之前，他曾在1993年至2000年间负责LVMH旗下某知名香水与美妆品牌在中国的业务开拓，并于2000年至2005年间担任索尼音乐娱乐亚洲区副总裁。其职业生涯横跨奢侈品、娱乐与消费领域，具备深厚的品牌运营与跨文化市场经验。为了绑定这位行业大牛，泡泡玛特给出了极具诚意的薪酬方案。公告显示，吴越的初始任期为三年，除每年120万港元固定现金薪酬外，还可在满足条件后获得180万港元的股份薪酬，“现金+股权”的组合凸显出双方在战略目标上的长期绑定意愿。摩根士丹利最新发布的研报认为，吴越加入泡泡玛特董事会意味着公司过去两年的成功为发展新业务赢得了更多资源，也意味着公司旗下IP在时尚和娱乐领域获得了高度认可，这增强了其对于泡泡玛特有能力部署具有影响力的营销和产品资源的信心。摩根士丹利还强调，吴越在LVMH超过20年的丰富经验，将在人才挖掘培养、时尚珠宝领域、全球黄金门店选址等方面为泡泡玛特提供有效经验。更值得关注的是，双方的跨界协同已提前“破冰”。2025年3月，泡泡玛特创始人王宁就在财报会议上明确表示“要研究LV如何维持稀缺性”；同年10月，LVMH旗下高端箱包品牌MOYNAT便与泡泡玛特设计师龙家升推出联名包袋系列，该合作还获得了LVMH集团董事长BernardArnault的亲自站台支持，成为潮玩与奢侈品圈层融合的标志性事件。而此次引入吴越，正是将这种浅层合作升级为深层战略联动的关键落子。图源泡泡玛特官方网站事实上，泡泡玛特的高端化转型并非突发之举，早在吴越加盟前，其就已在高端收藏市场完成多轮试水。数据显示，旗下MEGACOLLECTION高端珍藏系列2024年营收已达16.84亿元，实现爆发式增长；与Moncler联名的SPACEMOLLY全球限量2000体合作款，曾以300体专属配额引发线上线下疯抢，验证了奢侈品“抽签发售”玩法在潮玩领域的可行性。而近年来，泡泡玛特的营收与利润规模也持续刷新纪录。2023年全年营收63.01亿元、归母净利润10.82亿元；2024年营收跃升至130.38亿元，归母净利润增至31.25亿元；2025年上半年业绩更是实现跨越式增长，营收达138.76亿元，归母净利润45.74亿元，半年业绩便超越2024年全年水平，净利润率也从2023年的17.28%大幅提升至2025年上半年的33.74%。高业绩增长叠加重磅人事布局，能否帮助泡泡玛特重塑市值神话？有业内人士指出，吴越加入泡泡玛特董事会无疑是对品牌的一次有力背书，这意味着泡泡玛特正融入国际时尚潮流核心圈层。对双方而言，这也是一次强强联合，泡泡玛特有机会借助LVMH在时尚领域的深厚资源拓宽消费客群，实现品牌力和IP影响力的再度跃升，而LVMH也可以通过泡泡玛特进一步洞察年轻潮流消费趋势，实现对未来消费风向更准确的预判。“转载请注明出处”","kind":"news","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"executive","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 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