This article is part of a Spotlight series on what marketers can learn from DTC disruptors in China. Read more
The stellar IPO performance of new FMCG challenger brands in China such as Pop Mart, HeyTea and Perfect Diary show a remarkable pattern. Multi-billion-dollar valuations after less than 10 years of a company’s foundation were thought to be exclusive to the tech sector, not the FMCG industry with its saturated markets, physical products and powerful distributors.
Now, a new breed of Chinese scaled-up brands seems to have overcome these limitations and produced growth trajectories...