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.
Caixin
China's Gen Z inspires beverage makers to take on Coca-Cola
Patriotism and slick marketing fuel sky-high valuations for new companies
A courier picks up an order from Chinese bubble tea chain Nayuki in Beijing on June 24. © Reuters
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