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1、DTC2DTCDTCDTCDTCROI4. Facebook51.DTC2.DTCESG3. DTC ROI 3253741611. 1.DTCplaceholderplaceholderplaceholderplaceholderAccessoriesHome & GardenHealth & BeautySporting goods4DTCDTCDTCDTC1526548till 2021.10202020201912111DTC20192021101,2*INMIX2021-0915UpHonest CapitalLilysilk2021-05A+15CapitalNutsOuter20

2、21-01A1.05Plum VenturesOuter2021-08BUSD50 Million5000Capital TodayComHome2021-09A1,500GF Xinde InvestmentFOCALLURE2021-09A1,0005Y CapitalXVCYESOUL2021-10A1,500Xiaomi Group*2021112DTCDTC1 IT2021112 2021113 QCC202120215DTCDTC DTC1990201020002018DTC6DTC1.12024180891109112417917128921349%51%16%24%29%31%

3、20201.1 1Aaron Orendorff2021 10202111https:/ 2021102Aaron Orendorff202110202131.1 DTC102021DTCTOTWOOSoufeelTIJNEYEWEAREcosusiHappieWatchBamoerAitBagsVIVAIASheownBagsmarta.b.10 31 Instagram Facebook c.2021 5 10 1000500100501001.1DTCDTC1.254%2021 54%11.2新冠疫情对该产品类别带来了积极正面的影响，推动全球业务增长B2C+8.15%20211+7.25

4、%202011TechnavioB2C- 2021-202512DTCLED1.2DTC 13DTCLoctekVesta SleepLilysilkSmugdeskBeddinginnAosomGTRACINGDeconovoComHomaSongmics2005010101000a.b.10 31 Instagram Facebook c.2021 5 10 1.2DTC2021DTC寝具品类代表了一种对品牌附加值要求相对较高的生活方式。消费者愿意为高端寝具品牌支付高价，但不一定愿意为满足基本需求，比如购买园艺工具而支付高价。14DTC1.3161.3STORIES OF CHINA DT

5、C BRANDS GOING GLOBALHealth & Beauty90118202520191361692025201922626820192025536020252019/1Common Thread CollectiveReilly Roberts2021202192020-20251$48302020年$51102021年$78462021年4.75%20257160202778462019-20251 +32%+32%+32%+32%1.2.1.3 136202520215(AR)/MRMR(AI) 17DTCa.b.10 31 Instagram Facebook c.2021

6、 5 10 1.3 DTC大部分中国健康美容品类的DTC品牌选择在线上开展业务。这些品牌严重依赖第三方电商平台作为全球销售渠道，并通过社交媒体进行品牌内容运营。对于这些DTC品牌而言，其独立站的运营和建设还处于起步阶段。18DTC191.425%27%32%41%35%Adidas34%40%NikeUnderArmourPUMA33%202020191.4DTC1DTC2DTC1-20212021112Statista20211120DTC2020107,215127,453161,035186,74920182021E20202019+19%+26%+16%1.4211Stephania