4月10日,安踏递出一纸公告,宣布将以2.9亿美元收购德国户外品牌Jack Wolfskin(狼爪)。这已经是安踏十年内的第七次大型并购,从斐乐、始祖鸟到狼爪,这家中国运动巨头似乎永远在“买买买”的路上。然而,市场的反应却耐人寻味:股价波澜不惊,远不及收购始祖鸟时的狂欢。国内粮仓见顶、海外硬骨头难啃问题面前,安踏验证屡次用收购*公式破解增长焦虑。但这次投资者所犹豫的,可能是一个更本质的问题:狼爪...
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