CNBC AI Exclusive | Updated May 24 – In an unexpected corporate reunion, Gree Electric Chairperson Dong Mingzhu shared the spotlight with former protege Meng Yutong during a livestream event this week, reigniting public curiosity about their professional dynamics. Despite the buzz surrounding their on-screen collaboration, the duo’s commercial appeal failed to translate into strong sales figures.
The prime-time broadcast, which began at 7 PM local time, took an unconventional turn as Dong prioritized promoting Gree’s controversial “microcurrent beauty device” over the company’s signature air conditioners. Marketed at ¥14,000 with a limited-time discount of ¥9,800 ($1,350), the美容仪 became the centerpiece of what was framed as a “homecoming celebration” for Meng.
To incentivize purchases, Gree offered a complimentary four-piece barware set—reportedly valued at ¥5,000—to the first ten buyers. However, real-time data revealed underwhelming consumer response: Only two units sold within the first 30 minutes, climbing to a modest four units by the broadcast’s conclusion, despite peak viewership surpassing 30,000.
The awkward sales performance contrasts sharply with Dong’s enthusiastic personal endorsement. “After just one week of use, I noticed visible improvements in my complexion,” the 70-year-old executive asserted, doubling down on claims that initially drew skepticism when the device launched last quarter.
Industry analysts suggest the event highlights broader challenges in Gree’s diversification strategy. “While appliance giants can leverage executive star power for short-term attention,” noted Zhang Wei of Shanghai-based CMB International, “sustaining premium pricing in competitive beauty tech markets requires more than celebrity testimonials—it demands demonstrable innovation.”
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