China’s new FMCG challenger brands have achieved multi-billion-dollar valuations in under 10 years – something that only the tech sector was previously thought capable of. Picus Capital’s Alexander Kremer and Roland Berger’s Cedric Jäger examine what is driving their exponential growth.

Why it matters

With changing consumption behaviours and an industry structure ready for disruption, China’s new consumer goods brands are pursuing data-driven product development and digital-first sales and marketing to achieve success at breakneck speed.

Takeaways

• HeyTea, Pop Mart and Perfect Diary are three new consumer goods brands following the growth paths of internet brands.
• These FMCG unicorns and...