Core Viewpoint - The collaboration between Snow中飞 and the popular IP "盗墓笔记" aims to enhance brand awareness and attract a younger demographic, despite mixed consumer feedback on pricing and design [1][2][9]. Brand Strategy - Snow中飞 has adopted IP collaborations as a strategy for brand rejuvenation and fashion positioning, with the latest partnership targeting the 18-35 age group [1]. - The brand's recent goal is to become "China's first brand of ice and snow down jackets," emphasizing its connection to outdoor and ice sports [10][14]. Product Offering - The new collaboration features outdoor apparel, including four types of jackets priced between 799 to 1299 yuan and a T-shirt priced at 99 yuan, which is significantly higher than their regular offerings [1][2]. - The pricing strategy reflects a brand premium, although some consumers find it unappealing due to perceived lack of distinctive design elements [2]. Sales Performance - Initial sales data indicates that within 36 hours of launch, one jacket and T-shirt surpassed 100 units sold, while other styles lagged behind [2][9]. - Snow中飞's revenue growth has slowed, with a 9.2% increase to 2.206 billion yuan in the 24/25 fiscal year, a significant drop from the previous year's 65.3% growth [10]. Competitive Landscape - The brand faces stiff competition from both established and emerging players in the down jacket market, such as 雅鹿 and 鸭鸭, which have capitalized on e-commerce and functional apparel trends [13]. - The competitive environment is characterized by brands that are often driven by price rather than value, leading to a lack of strong brand identity [13]. Marketing and Positioning - Snow中飞 is attempting to establish a clearer brand identity through its "ice and snow down jacket" concept, although this positioning may lack clarity and depth [17][18]. - The brand's marketing strategy includes expanding its product range beyond down jackets to include various seasonal apparel, aiming to appeal to a broader market [17]. Retail Expansion - Snow中飞 has a significant offline presence with over 1,000 stores across more than 200 cities, which provides an advantage in brand visibility [18]. - The company plans to enhance its retail strategy by focusing on shopping centers and outlet channels, with new flagship stores being rolled out [18].