Core Viewpoint - The article discusses the ongoing changes in the global ice cream industry, particularly focusing on the potential acquisition of Froneri by Goldman Sachs and the challenges faced by Häagen-Dazs in the Chinese market, highlighting the shift towards a "quality-price ratio era" in consumer preferences [4][5][29]. Group 1: Market Dynamics - Goldman Sachs is preparing to acquire Froneri for €15 billion (approximately ¥120 billion), which could reshape the global ice cream market [5]. - The acquisition may lead to increased market concentration, brand strategy adjustments, and supply chain integration, particularly in the U.S. ice cream market [8]. - Despite the acquisition, Häagen-Dazs' operations in China will remain under General Mills, indicating potential regional disparities in brand development [8]. Group 2: Häagen-Dazs Challenges in China - General Mills reported a 5% decline in net sales to $4.8 billion (approximately ¥34.8 billion) in Q3 2025, with a 3% drop in international market sales attributed to declines in China and Brazil [10]. - Häagen-Dazs faces a significant reduction in store numbers, from 466 in January 2024 to 370 by July 2025, alongside a double-digit decline in customer traffic [12][10]. - The brand is experiencing increased competition from emerging tea and coffee brands, which are diverting market share away from Häagen-Dazs [13]. Group 3: Consumer Behavior and Market Trends - The Chinese ice cream market is shifting towards more affordable options, with products priced between ¥3-5 accounting for 45.98% of sales, while high-priced products above ¥12 have seen a decline to 3.95% [21][22]. - Consumers are increasingly prioritizing quality-price balance over brand prestige, leading to a decrease in Häagen-Dazs' customer loyalty despite its high price point [15][21]. - The market is evolving from "functional consumption" to "experiential consumption," with consumers valuing emotional and social aspects of their purchases [23]. Group 4: Future Development Trends - If Goldman Sachs successfully acquires Froneri, it may strengthen Häagen-Dazs' position in the high-end market in Europe and the U.S., while facing strategic challenges from partners like Nestlé [26]. - General Mills must enhance value-for-money offerings, optimize distribution channels, and innovate locally to maintain brand appeal in China [26]. - Multi-channel operations and expanding consumer experiences will be crucial for Häagen-Dazs to redefine its brand value and market presence [26].

Core Viewpoint - The potential acquisition of Froneri by Goldman Sachs for €15 billion (approximately ¥120 billion) could significantly reshape the global ice cream industry, highlighting the survival rules in the "quality-price ratio era" [1][2] Group 1: Market Dynamics - Goldman Sachs is preparing to acquire Froneri, the world's second-largest ice cream producer, which could lead to increased market concentration and accelerated expansion in the U.S. ice cream market [2][3] - The acquisition may allow Goldman Sachs to optimize product lines and channel layouts, tapping into Häagen-Dazs' high-end market potential [3] - Despite the acquisition, Häagen-Dazs' operations in China will remain under General Mills, indicating potential regional disparities in brand development [3] Group 2: Häagen-Dazs Challenges in China - General Mills reported a 5% year-over-year decline in net sales to $4.8 billion (approximately ¥34.8 billion) for Q3 2025, with a 3% drop in international market sales attributed to declines in China and Brazil [4] - Häagen-Dazs faced a significant reduction in store numbers in China, dropping from 466 in January 2024 to 370 by July 2025, alongside a double-digit decline in customer traffic [7] - The brand is experiencing increased competition from emerging tea and coffee brands, which are diverting market share away from Häagen-Dazs [7][9] Group 3: Consumer Behavior and Market Trends - Chinese consumers are increasingly favoring products priced between ¥3-5, which accounted for 45.98% of sales, while high-priced products above ¥12 have seen a decline [14] - The ice cream market is shifting from "functional consumption" to "experiential consumption," with consumers valuing emotional and social aspects of the consumption process [17] - Häagen-Dazs' high pricing strategy has not translated into brand loyalty or premium perception, leading to decreased competitiveness [9][12] Group 4: Future Development Trends - If the acquisition is successful, Goldman Sachs may strengthen Häagen-Dazs' position in the high-end market in Europe and the U.S., while facing strategic challenges from partners like Nestlé [19] - General Mills must enhance value-for-money offerings and local innovations in China, focusing on omnichannel operations and consumer experience to revitalize the brand [19][20]