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Core Viewpoint - Häagen-Dazs is experiencing a decline in its market position in China, with a significant drop in store traffic and sales, particularly among younger consumers, leading to potential divestment by its parent company General Mills [1][2][3]. Market Performance - Häagen-Dazs entered the Chinese market in 1996 with a premium pricing strategy, achieving peak sales where the Chinese market accounted for half of its global revenue by 2017 [1]. - The high-end ice cream business revenue fell from $800 million in FY2018 to $718 million in FY2020, with a projected continued decline in store traffic by double digits by Q2 FY2025 [1][2]. Store Operations - The number of Häagen-Dazs stores in China has decreased from over 400 at its peak to 263 currently, with closures in major cities like Beijing and Nanchang [2][4]. - The brand's inability to innovate and adapt to changing consumer preferences has led to a loss of market share to emerging local brands [2][3]. Competitive Landscape - The high-end ice cream market is undergoing a significant reshuffle, with local brands like DQ and new entrants gaining market share through localized products and competitive pricing [6][7]. - DQ has maintained a leading market position with a market share close to 29% as of 2023, while Häagen-Dazs struggles with a higher price point [6][7]. Consumer Trends - Younger consumers are increasingly turning away from Häagen-Dazs, as evidenced by its loss to competitors like Zhong Xue Gao during the 2019 Double Eleven sales event [3]. - The perception of Häagen-Dazs as a premium brand is diminishing, with consumers realizing that it is often discounted in international markets [3]. Market Dynamics - The Chinese ice cream market is projected to reach a size of 183.5 billion yuan in 2024, with Gelato experiencing a notable growth rate of 10% [7]. - Local brands such as Bobo Ice Cream and Ye Ren Xian are rapidly expanding, with Bobo Ice Cream reaching 1,000 stores by the end of 2024 [8]. Industry Challenges - The high-end ice cream segment is facing a downturn, with major brands like Unilever announcing a separation of their ice cream business due to declining market share and profitability [9]. - Competitors like Zhong Xue Gao and Moutai Ice Cream are also experiencing significant sales declines, indicating a broader trend affecting premium ice cream brands [9]. Strategic Recommendations - Häagen-Dazs needs to reassess its market strategy to regain its competitive edge, focusing on product innovation and adapting to local consumer preferences [10].