General Mills(US:GIS) 21世纪经济报道·2025-06-12 10:17Core Viewpoint - General Mills is considering selling its Haagen-Dazs ice cream business in China, with potential asset disposal discussions expected to start in 2025, aiming for a sale price in the hundreds of millions of dollars [2][3]. Group 1: Business Performance - Haagen-Dazs has experienced a significant decline in customer traffic in China, with a double-digit drop reported by General Mills' CEO at a recent Deutsche Bank consumer goods forum [4]. - The average transaction value for Haagen-Dazs stores in China is 58.36 yuan, contrasting sharply with lower-priced competitors like Mixue Ice Cream, where basic ice cream costs only 2 yuan [6]. Group 2: Market Trends - The overall ice cream market in China is contracting, with major players like Yili and Mengniu reporting substantial revenue declines in their cold drink segments, with Yili's ice cream revenue down 18.4% to 8.72 billion yuan and Mengniu's down 14.1% to 5.175 billion yuan [7]. - The rise of cost-effective alternatives in the market is a significant factor contributing to Haagen-Dazs' struggles [5]. Group 3: Strategic Considerations - The potential sale of Haagen-Dazs in China may not be entirely negative, as introducing new local investment could enhance operational localization, similar to the positive changes seen at McDonald's China after local investment [8][9].