Core Viewpoint - The rise and fall of Zhong Xue Gao, once hailed as the "Hermès of ice cream," is attributed to its marketing strategies, which ultimately led to its bankruptcy due to unsustainable business practices and mounting debts [3][20]. Company Overview - Zhong Xue Gao was founded in 2018 by Lin Sheng, targeting the high-end ice cream market and quickly achieving significant sales, reaching 1 billion yuan within its first year and 10 billion yuan by 2021 [10]. - The company received a total of 1.3 billion yuan in investments from various venture capital firms [10]. Marketing Strategy - Lin Sheng's marketing approach emphasized high pricing as a unique selling point, which initially attracted attention and sales [4][10]. - The brand gained popularity through collaborations with top influencers, achieving remarkable sales figures during live-streaming events [10]. Crisis Development - In 2021, Lin Sheng's controversial statement "love to buy or not" sparked negative consumer sentiment, marking the beginning of a decline in brand reputation [12]. - A viral video questioning the quality of Zhong Xue Gao's products further damaged its image, leading to consumer skepticism about its pricing and quality [12][14]. Financial Troubles - By 2023, the company faced severe financial difficulties, leading to significant layoffs and a dwindling workforce, with only about 100 employees remaining by 2024 [18]. - Lin Sheng attempted to revive the company by selling other products, such as sweet potatoes, but faced ridicule and continued financial strain [19]. Bankruptcy Proceedings - On July 16, 2023, Zhong Xue Gao was officially placed under bankruptcy review due to its inability to repay debts and insufficient assets [3][20]. - The company's products are expected to disappear from the market following the bankruptcy proceedings, marking the end of its presence in the ice cream industry [20].

Core Viewpoint - The article discusses the decline of the ice cream brand Zhong Xue Gao, once hailed as the "Hermès of ice cream," highlighting its bankruptcy review announcement and the factors contributing to its struggles in the changing consumer market [2][6]. Group 1: Company Overview - Zhong Xue Gao was founded in 2018, strategically positioning itself in the price range of 10 to 30 yuan, avoiding direct competition with traditional brands while leveraging the appeal of domestic products [18][19]. - The brand initially thrived during the golden era of new consumption, achieving rapid growth and attracting significant investment, with a valuation nearing 4 billion yuan [21][22]. Group 2: Challenges Faced - In 2022, two major events destabilized Zhong Xue Gao: the challenge of high pricing strategies and a public relations crisis stemming from a viral video questioning the safety of its products [23][24]. - The brand's annual growth rate plummeted from over 100% to 50% in 2022 due to the negative impact of these events on consumer trust [25]. Group 3: Attempts at Recovery - In response to its struggles, Zhong Xue Gao launched sub-brands like "Li Da Ju" and "Sa'Saa" to diversify its offerings and target different price segments, but faced stiff competition from established brands [11][15]. - The company also ventured into live-streaming e-commerce as a means to generate revenue and repay debts, with founder Lin Sheng actively participating in sales efforts [12][14]. Group 4: Market Trends - The article notes a significant shift in the Chinese consumer market, with consumers becoming more price-sensitive and less willing to pay a premium for brand stories, leading to a decline in demand for high-priced ice cream [30][31]. - The current ice cream market is characterized by a focus on affordable products, smaller sizes, and health-conscious options, with traditional brands adapting to these trends [31][32].