徕芬论战背后：“平替之王”的增长焦虑

Core Insights - The recent controversy surrounding electric shavers has drawn significant attention in the small appliance industry, particularly due to the involvement of Lefan's CEO Ye Hongxin, who accused a reviewer of bias and questioned the integrity of the review process [1][2][5] - Lefan's flagship product has traditionally been high-speed hair dryers, which saw sales grow from 150 million in January 2021 to 3 billion in 2023, but the company is now facing growth challenges as the hair dryer market becomes saturated [1][3] - The electric shaver market is experiencing a surge, with retail sales expected to increase by 10.5% year-on-year in the first half of 2025, indicating a shift in consumer demand towards high-end products [1][7] Company Strategy - Lefan is attempting to expand into new product categories, such as electric shavers and electric toothbrushes, to tap into growing market segments [6][7] - The company launched its first electric shaver line in May 2023, aiming to leverage its previous success in the hair dryer market, but faces challenges due to increased competition and market saturation [6][8] - Ye Hongxin has acknowledged the difficulties in the electric toothbrush market, citing low profit margins compared to competitors, and has expressed the need for Lefan to adapt its strategies to succeed in new categories [6][9] Market Dynamics - The hair dryer market is becoming increasingly competitive, with many brands offering similar products at lower prices, leading to a decline in Lefan's market share [3][4] - The electric shaver market is characterized by a growing demand for portability and high-end features, with average prices increasing by 23.7% year-on-year [7][8] - Despite the challenges, Lefan's strategy of offering high-performance products at competitive prices may provide opportunities for success in the electric shaver market if they can enhance brand perception and consumer recognition [9]