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经济学人:熊彼特专栏--LVMH对决爱马仕(2)

来源:经济学人 编辑:Melody   可可英语APP下载 |  可可官方微信:ikekenet
  
  • Plenty of companies, particularly those with family histories, resist the lure of takeovers by bigger rivals.
  • 许多公司,尤其是那些具有家族历史的公司,都在抵制着更大竞争对手的收购诱惑。
  • Often the decision is guided by pride rather than financial sense.
  • 通常情况下,这样的公司在决策上会受到品牌自豪感的引导,而不是注重经济意义。
  • Hermes provides a road map of how to stay independent—and how it can pay off.
  • 爱马仕向我们展示了它如何保持独立,并成功抵制并购的历程。
  • The first step was to keep the wolf at bay.
  • 第一步就是把狼拒之门外。
  • Though listed since 1993, most of Hermes's shares belonged to 60 or so descendants, split into various branches.
  • 尽管爱马仕在1993年就上市了,但是集团的大部分股份划分成多份,分属于大约60位后代。
  • Hermes threw up all manner of defences.
  • 爱马仕提出了各种各样的防御措施。
  • Mr Arnault was publicly rebuked as a corporate raider (less polite language was used).
  • 阿尔诺先生被公开谴责为企业掠夺者(使用了不太礼貌的语言)。
  • Lawyers attacked the underhand way in which his stake was built through complex financial products that skirted disclosure rules
  • 律师们抨击他使用了卑鄙的手段,利用复杂的金融产品避开披露规则以建立自己的股份
  • (LVMH was later fined 8m euros by the markets regulator).
  • (LVMH后来被市场监管机构罚款800万欧元)。
  • Ultimately, Hermes family members eager to remain in charge created a structure which pooled just over 50% of shares,
  • 最终,渴望继续掌权的爱马仕家族成员创造了一个结构并汇集了超过50%的股份,
  • committing themselves to owning their stakes come what may until 2031.
  • 承诺不论2031年之前发生什么,他们都拥有这些股份。
  • By 2017 Mr Arnault had given up.
  • 到了2017年,阿尔诺已经放弃了。
  • The second step is to use independence wisely.
  • 第二步是明智地使用独立性。
  • That Mr Arnault coveted Hermes is testament to its good management.
  • 阿尔诺对爱马仕的垂涎足以证明它的良好管理。
  • But the general rule in the past decade has been that
  • 但过去十年的普遍规律是,
  • multibrand conglomerates like LVMH, Richemont (home of Cartier and Montblanc) or Kering (Gucci and Saint Laurent) hold an edge over single-brand outfits like Burberry, Prada or Hermes.
  • 诸如LVMH、历峰集团(名下有卡地亚和万宝龙)或开云集团(名下有古驰和圣罗兰)等多品牌集团比巴宝莉、普拉达或爱马仕等单一品牌的公司更具优势。
  • The cost of building new e-commerce capabilities can be spread more widely;
  • 构建新型电子商务能力的成本可以更广泛地分摊给名下多个品牌;
  • size gives a bargaining advantage with landlords.
  • 在就店铺规模与房东讨价还价的方面更具优势。
  • Creators are lured to the biggest names in a virtuous loop of desirability.
  • 创造者在吸引力的良性循环中被吸收到了大名鼎鼎的名牌。


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重点单词   查看全部解释    
complex ['kɔmpleks]

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adj. 复杂的,复合的,合成的
n. 复合体

联想记忆
desirability [di.zaiərə'biliti]

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n. 称心如意的人(东西),有利条件

 
independent [indi'pendənt]

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adj. 独立的,自主的,有主见的
n. 独立

联想记忆
saint [seint]

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n. 圣人,圣徒
vt. 把 ... 封为圣人

 
advantage [əd'vɑ:ntidʒ]

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n. 优势,有利条件
vt. 有利于

联想记忆
decision [di'siʒən]

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n. 决定,决策

 
decade ['dekeid]

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n. 十年

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resist [ri'zist]

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v. 抵抗,反抗,抵制,忍住
n. 防蚀涂层

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ultimately ['ʌltimitli]

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adv. 最后,最终

 
spread [spred]

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v. 伸展,展开,传播,散布,铺开,涂撒
n.

 

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