醉象被曝进行品牌焕新，资生堂还未放弃这个“烫手山芋”

Core Viewpoint - The company "Drunk Elephant" has announced a brand refresh and launched a campaign called "Please Enjoy Responsibly" amid declining performance and market challenges [2][4]. Group 1: Brand Performance and Market Challenges - Drunk Elephant was acquired by Shiseido in 2019 for approximately 90 billion yen, seen as a strategic move to capitalize on the clean beauty trend [2]. - Despite initial success post-acquisition, Drunk Elephant has become a drag on Shiseido's performance, with a significant decline in sales [3]. - In 2024, Drunk Elephant's sales dropped by 25% year-on-year, and in Q1 2025, sales plummeted by 65% [3]. - The brand's core markets have also suffered, with sales in the Americas down over 60% and Europe down more than 70%, contributing to a 14.5% revenue decline for Shiseido in the Americas [3]. Group 2: Target Audience and Brand Identity - The influx of younger consumers has blurred Drunk Elephant's brand identity, shifting its perception from adult skincare to products suitable for minors [2][3]. - The lack of brand loyalty among younger consumers, who treat product trials as a game, has made it difficult for Drunk Elephant to retain this demographic [3]. - The company faces a critical challenge in redefining its target audience and brand advantages, as many competitors offer similar product claims [5]. Group 3: Strategic Decisions and Future Outlook - Shiseido decided to cease Drunk Elephant's sales in Japan as of June 30, 2024, focusing resources on the U.S. market, but recovery has not met expectations [3]. - The brand has incurred a 46.8 billion yen impairment loss within approximately six years of acquisition [3]. - Despite the challenges, Shiseido has not indicated plans to divest Drunk Elephant, although future investment in the brand remains uncertain [5].