毛戈平(1318.HK):经典 稀缺 成长

长江证券
17 Mar

品牌:乘高端之势,品牌资产具备强稀缺性我们认为,2019 年至今毛戈平品牌的快速发展,得益于其在高端彩妆向好、国风审美回归的背景下,经典品牌理念、稀缺的创始人行业地位与高品质产品的共振,其高端化的品牌塑造过程复制难度较大,形成较高的进入壁垒。而在《从毛戈平崛起看国产高端美妆进阶之路》一文中,我们详细梳理了公司从创始人到产品、渠道三位一体的发展脉络,本文我们针对公司产品和渠道边际变化进行分析,以期对...

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