民生调查局 | 同仁堂 金字招牌在“贴牌”

Core Viewpoint - The article discusses the brand integrity issues faced by Beijing Tongrentang, a historic Chinese medicine brand, due to its extensive licensing and outsourcing practices, which have led to product quality concerns and consumer confusion regarding authenticity [2][3][5]. Group 1: Brand Integrity and Licensing Issues - Beijing Tongrentang has faced significant backlash after a product, "99% High Purity Antarctic Krill Oil," was found to have no phospholipid content, raising questions about the quality of licensed products [2][3]. - The brand's licensing strategy has resulted in a proliferation of products under the Tongrentang name, leading to a situation where consumers struggle to differentiate between authentic and counterfeit products [3][7]. - The company has a complex network of over 400 subsidiaries, which complicates brand management and has led to various trademark disputes among different Tongrentang entities [7][9]. Group 2: Financial Performance and Market Strategy - Beijing Tongrentang's net profit for 2024 is projected to be 1.526 billion yuan, a decline of 8.54% year-on-year, marking the first negative growth in five years [9]. - The company has attempted to diversify its offerings by entering various sectors, including health supplements and direct sales, but this has raised concerns about brand dilution and consumer trust [8][9]. - The brand's efforts to modernize and appeal to younger consumers through new retail initiatives have been met with mixed results, highlighting the challenges of balancing traditional values with contemporary market demands [9].