Capital, Earnings & M&A
Horse Race: Leading Feihe and Following Junlebao
China's infant formula market is replaying the comeback story seen in TVs and small appliances. Nielsen data shows Feihe has become the top-selling brand, surpassing foreign brands, while domestic brands' market share has risen from 25% in 2008 to 49% in 2018. Feihe leads with a high-end strategy, while Junlebao follows with a quality-low-price approach, creating a tight race.
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