清明假期第一天 全社会跨区域人员流动量预计约2.96亿人次

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Usually, it’s me. So we have to do prioritization. Not every brand is built equally. We have a hierarchy for our brands called grow, optimize, and reinvent. So our growth brands are the ones where we see the highest three-year continuous growth potential, we see the highest operating profit margin potential, and we see them operating in markets that are pretty buoyant; they tend to be more blue ocean and less red ocean. And so those growth properties tend to get first pick on available capital and available talent. Optimized brands tend to be in lower growth categories. We tend to see them as kind of steady eddies, maybe low growth. They still do a decent operating profit for us, and so then they get the next tranche. And then reinvent brands are, like we talked about at the beginning of the discussion on toys, toys are kind of a fast fashion cyclical business. What’s popular this year is likely not going to be popular three or four years from now.

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