春纪线上“退场”，丸美生物押注彩妆？

Core Viewpoint - The beauty brand Chunji under Marubi Biotechnology is quietly withdrawing from the market, with its flagship store on major e-commerce platforms already closed and no new products launched in over a year [2][3][4]. Group 1: Brand Status - Chunji's flagship store on Tmall announced its intention to cease operations by October 26, 2025, and has removed all product links since August 2023 [2]. - The brand has also closed its stores on other major platforms such as JD, Chuchujie, and Pinduoduo, and has not updated its WeChat or Weibo accounts since early 2023 and May 2022, respectively [2][3]. - The last product registered for Chunji was in July 2024, indicating no new product launches in over a year [2]. Group 2: Financial Performance - Chunji was launched in 2007 with a focus on natural skincare for young women, and at one point contributed significantly to Marubi's revenue, with sales rising from 144 million yuan in 2014 to 170 million yuan in 2016, accounting for 14.11% of Marubi's revenue [3][4]. - However, after 2016, Chunji's revenue declined to 142 million yuan by 2018, with its revenue share dropping to 9.06% [4]. - Following Marubi's IPO in 2019, Chunji's specific revenue figures were no longer disclosed, although it was noted that the brand faced challenges due to increased competition and limitations of traditional marketing [4]. Group 3: Strategic Shift - In contrast to Chunji's decline, Marubi's color cosmetics brand, Lianhuo, has seen rapid growth, with revenues increasing from 66.17 million yuan in 2021 to an expected 1 billion yuan in 2025 [4]. - The strategic shift from Chunji to Lianhuo aligns with the rise of domestic color cosmetics brands and changing consumer preferences [4]. Group 4: Expert Opinion - Industry experts suggest that Chunji's withdrawal is primarily due to unclear brand positioning and fluctuating business strategies, leading to a loss of both existing and potential customers [5]. - There is speculation that Marubi may be planning a new model for Chunji, but without a clear departure from traditional operations, the brand's challenges are likely to persist [5].