A shift in interest among young Chinese toward homegrown products, and a desire to lead healthier lifestyles, has opened the door for more local brands to challenge big international names such as Coca-Cola and Starbucks, fueling investor interest in startups and inflating valuations.
The change is being driven by Generation Z -- those born in the late 1990s -- who grew up during a period of unprecedented domestic economic growth and China's rise to global prominence. This has instilled in them confidence, national pride and a sense of nostalgia for all things Chinese.
