Core Insights - The article discusses the journey of Chai Xiu, who aimed to become the leader in the cheese market in China, successfully establishing her brand, Miaoke Landuo, but facing challenges from competitors and market dynamics [1][30]. Company Development - Chai Xiu started her business career in 1996, initially focusing on snack foods and later establishing Guangze Dairy, which became a leading brand in Jilin province with a market share of 90% [2][3]. - After recognizing the potential in the cheese segment, Guangze Dairy partnered with a French company in 2007 to acquire cheese production technology, marking its entry into the cheese market [4][5]. - In 2015, after years of preparation, Guangze Dairy made significant moves by acquiring companies and investing in advanced cheese production equipment, launching its first cheese product aimed at children [7][9]. Market Strategy - The company initially targeted lower-tier cities to build brand recognition before competing in major urban markets, avoiding direct competition with established foreign brands [10]. - A major marketing push in 2019, including high-frequency advertising campaigns, helped Miaoke Landuo capture significant market share, achieving a revenue of 12.26 billion yuan and a market share of 3.9% by 2018 [10][14]. Competitive Landscape - Following Miaoke Landuo's success, new competitors emerged, including Miaofei Foods and Cheese Doctor, both targeting similar market segments and employing aggressive marketing strategies [15][19]. - The competitive environment intensified, leading to price wars and increased marketing expenditures for Miaoke Landuo, which saw its marketing costs rise from 359 million yuan to over 1.15 billion yuan between 2019 and 2021 [20][21]. Financial Performance - Despite initial success, Miaoke Landuo faced declining market share and profitability due to increased competition and market saturation, leading to a significant drop in stock price and market value [22][23]. - In early 2025, the company reported a revenue of 12.33 billion yuan, a year-on-year increase of 6.26%, and a net profit of 823.97 million yuan, reflecting a strategic shift in its marketing and operational approach [24][25]. Future Outlook - The cheese market in China is projected to grow significantly, with the market size expected to exceed 300 billion yuan by 2025, driven by increasing consumer demand [29][30]. - Miaoke Landuo aims to maintain its leadership position in the expanding market, with ambitious revenue targets set for the next three years [27][30].