局势突变催生机遇消费品巨头宝洁(PG.US)还会重返委内瑞拉吗？

智通财经01-06

智通财经APP获悉，2026年1月，美军突袭委内瑞拉并扣押总统马杜罗的事件，让这个南美国家的地缘政治格局骤然生变。对于全球消费品巨头宝洁(PG.US)而言，这一变动也为其纠结数十年的委内瑞拉业务带来了新的不确定性——这家最早进入当地市场的美国消费企业，如今已全面退出本土生产，仅通过第三方分销维持存在。而面对特朗普政府推动美国企业重返的呼吁，宝洁至今保持缄默。深耕七十载：从区域枢纽到战略收缩宝洁与...

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Will consumer goods giant Procter & Gamble (PG.US) return to Venezuela?","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"PG":1.5},"content_text":"智通财经APP获悉，2026年1月，美军突袭委内瑞拉并扣押总统马杜罗的事件，让这个南美国家的地缘政治格局骤然生变。对于全球消费品巨头宝洁(PG.US)而言，这一变动也为其纠结数十年的委内瑞拉业务带来了新的不确定性——这家最早进入当地市场的美国消费企业，如今已全面退出本土生产，仅通过第三方分销维持存在。而面对特朗普政府推动美国企业重返的呼吁，宝洁至今保持缄默。深耕七十载：从区域枢纽到战略收缩宝洁与委内瑞拉的渊源可追溯至70余年前。1947年，宝洁首次将Ace洗衣粉进口至委内瑞拉，三年后正式设立办公室，这成为其在南美的首个业务据点。1952年，宝洁在当地建成第一家工厂，专注生产洗涤剂等日常消费品，委内瑞拉逐步发展为其在南美大陆的重要增长跳板。直至2013年，宝洁在当地拥有了两家工厂，员工规模超千人，产品覆盖洗衣护理和婴儿护理等核心品类。然而，马杜罗政府时期的政治动荡与经济危机彻底改变了这一局面。根据2015年年度报告，2013至2015年间，宝洁在委内瑞拉累计亏损超6亿美元，这促使公司在2015年核销当地全部资产，计提21亿美元减值，并将该地区业务移出财务报表合并范围。当时数据显示，委内瑞拉市场销售额占宝洁全球总营收比重不足2%，约合15亿美元以下。为应对持续恶化的经营环境，宝洁在2010年代启动战略收缩：将驻加拉加斯的总部出售并改建为技术中心，高层管理人员迁至巴拿马、智利等稳定地区;从区域业务枢纽定位转为高风险前哨，最终关停全部本土工厂，彻底终止制造业务。现状：第三方分销维持存在 官网信息滞后目前，宝洁已明确表示在委内瑞拉“无工厂、无研发中心、无员工”，仅通过第三方分销商模式维持产品供应，帮宝适等核心品牌通过经销商渠道在当地市场流通。这一运营模式的转变，与宝洁近年来全球范围内的业务重组战略相呼应——2025年6月，宝洁宣布启动中期业务重组计划，拟在2027年年中前削减7000个非制造岗位，同时退出孟加拉国、巴基斯坦等市场。值得注意的是，宝洁职业招聘网站上仍保留着“当地拥有两家工厂和一处研发设施”的相关描述，对此，公司回应称相关信息已过时。宝洁表示，“在随后的几年中，我们停止了制造业务，并转向了第三方分销模式”。作为全球最大的消费品制造商之一，宝洁2025财年全球销售额达843亿美元，其中拉丁美洲(含墨西哥、巴西)市场贡献59亿美元营收，占比7%。尽管委内瑞拉市场规模有限，但作为其南美业务的起点，该地区在战略布局中仍具有特殊意义。地缘变局下：重返机遇与风险并存当前委内瑞拉局势的突变，为宝洁的业务回归提供了潜在可能。特朗普政府已明确表态，希望美国石油企业扩大在委内瑞拉的运营，修复当地石油基础设施，这一政策导向也为消费品企业创造了重返的外部环境。分析称，若未来美国主导的政治过渡实现，制裁放松与经济正常化有望为宝洁带来中期利好，最乐观情况下，公司或选择性重启投资，重建一个盈利能力更强的业务。不过，截至目前，宝洁对重返委内瑞拉的提问始终保持沉默，其最终决策或将取决于当地局势演变、制裁解除进度以及全球战略优先级的平衡。","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":"","news_rank":0,"symbols":[],"gpt_button":1,"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 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":false,"tenantId":"TBCN","deviceId":"web-server-community-laohu8-v3","version":"4.36.2","shortVersion":"4.36.2","platform":"web","vendor":"web","appName":"laohu8","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2601689883","isCrawlerRequest":true}

局势突变催生机遇 消费品巨头宝洁(PG.US)还会重返委内瑞拉吗？

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局势突变催生机遇消费品巨头宝洁(PG.US)还会重返委内瑞拉吗？