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 downfall of Zhong Xuegao, a once-prominent ice cream brand known as the "Hermès of ice cream," which has entered bankruptcy proceedings due to an inability to repay debts and insufficient assets to cover liabilities [3][5][26]. Group 1: Company Background and Growth - Zhong Xuegao was founded in 2018 by Lin Sheng, targeting the high-end ice cream market and quickly gaining traction with significant investments totaling 1.3 billion yuan from various venture capital firms [11][12]. - The brand achieved remarkable sales growth, reaching 1 billion yuan in revenue within its first year and surpassing 1 billion yuan in 2021, becoming a leading player in the new consumption sector [13]. - Lin Sheng's marketing strategies, including collaborations with influencers and unique product offerings, helped the brand gain substantial market visibility and consumer interest [10][12]. Group 2: Crisis and Challenges - Starting in 2021, the company faced a series of crises, including negative publicity from Lin Sheng's controversial statements and product quality concerns, leading to a decline in consumer trust [15][16]. - Increased competition from established brands like Mengniu and Yili, which began to focus on online sales, put additional pressure on Zhong Xuegao's market position [16][17]. - The company's aggressive expansion strategy, including the introduction of lower-priced sub-brands, failed to resonate with consumers, leading to further financial strain [21][22]. Group 3: Bankruptcy and Aftermath - By 2023, Zhong Xuegao had laid off over half of its employees, and by 2025, only two employees remained on the payroll, highlighting the severe impact of financial difficulties [23][26]. - Lin Sheng attempted to salvage the company by selling products through live streaming, but these efforts did not significantly improve the situation, and the brand's reputation continued to suffer [24][25]. - Ultimately, the bankruptcy proceedings confirmed the end of Zhong Xuegao's operations, marking the decline of a once-celebrated brand in the ice cream industry [26].