3 6 Ke·2025-06-18 05:46Core Viewpoint - General Mills is considering selling its Haagen-Dazs ice cream stores in China, with initial valuations reaching hundreds of millions of dollars, although negotiations are still in early stages and may not lead to a sale [1][3]. Group 1: Haagen-Dazs Performance in China - Haagen-Dazs, once referred to as the "Hermès of ice cream," has seen a significant decline in performance in China, with store traffic experiencing double-digit declines [3][5]. - The brand entered the Chinese market in 1996, initially thriving due to its high-quality ingredients and premium pricing, but has struggled as consumers now prioritize value for money [5][10]. - As of early 2024, Haagen-Dazs has closed over 60 stores, and despite a slight increase in retail share, store traffic continues to decline [5][10]. Group 2: Comparison with Starbucks - In contrast to Haagen-Dazs, Starbucks has achieved a 5% year-on-year revenue growth in the second quarter of fiscal year 2025, with a total of 7,758 stores in China [6][9]. - Starbucks has successfully localized its strategy, utilizing regional partnerships and a focus on cultural integration to expand its market presence [8][9]. - The company has maintained its premium positioning while avoiding price wars, instead opting for product differentiation and continued expansion, even during challenging market conditions [9]. Group 3: Strategic Shifts for Haagen-Dazs - Haagen-Dazs is shifting its focus towards retail, dining services, and e-commerce to create new growth opportunities, as indicated by the CEO's comments on the need to adapt to changing consumer behaviors [10][12]. - The brand's strategy includes expanding its distribution network to enhance convenience for consumers, which has already shown positive results in online sales [12]. - The effectiveness of these strategic changes will be crucial in determining whether Haagen-Dazs can revitalize its presence in the Chinese market [12].