Wahaha's Princess Kelly Zong Fights to Salvage Fortune Amidst Fierce Beverage Market Competition
Source: The DairyNews
After the passing of her father, Zong Qinghou, once China's wealthiest man, Kelly Zong Fuli, dubbed the "Princess of Wahaha," steps into the limelight to lead the family legacy.
However, inheriting the reins of Hangzhou Wahaha Group Co. presents a formidable challenge for the 42-year-old heiress amidst mounting competition in the beverage industry.
“She is facing different difficulties ahead,” said Suheng Wu, business analyst at Daxue Consulting in Shanghai. “Consumer demand is changing, and the market competition is intensifying with new domestic and international brands emerging.”, writes Bloomberg.
Wahaha, a privately held entity, grapples with declining sales and struggles to adapt to evolving consumer preferences and online shopping trends.
The company’s sales dropped 35% from a high in 2013 to 51.2 billion yuan ($7.1 billion) in 2022, the last year for which the data are available, according to the All-China Federation of Industry and Commerce.
With Kelly Zong poised to inherit her father's mantle, she faces the daunting task of rejuvenating Wahaha's market position. Armed with an international business degree and hands-on experience gained at Wahaha's factories, she ascended the corporate ladder to become vice chair and general manager, spearheading initiatives to engage young consumers and revitalize the brand.
Kelly Zong prepares to navigate the complexities of succession and market dynamics, her efforts may yet redefine Wahaha's legacy in the competitive landscape of China's beverage industry.
Earlier we wrote: Chinese Billionaire and Wahaha Founder, Zong Qinghou, Diead at 79.
“She is facing different difficulties ahead,” said Suheng Wu, business analyst at Daxue Consulting in Shanghai. “Consumer demand is changing, and the market competition is intensifying with new domestic and international brands emerging.”, writes Bloomberg.
Wahaha, a privately held entity, grapples with declining sales and struggles to adapt to evolving consumer preferences and online shopping trends.
The company’s sales dropped 35% from a high in 2013 to 51.2 billion yuan ($7.1 billion) in 2022, the last year for which the data are available, according to the All-China Federation of Industry and Commerce.
With Kelly Zong poised to inherit her father's mantle, she faces the daunting task of rejuvenating Wahaha's market position. Armed with an international business degree and hands-on experience gained at Wahaha's factories, she ascended the corporate ladder to become vice chair and general manager, spearheading initiatives to engage young consumers and revitalize the brand.
Kelly Zong prepares to navigate the complexities of succession and market dynamics, her efforts may yet redefine Wahaha's legacy in the competitive landscape of China's beverage industry.
Earlier we wrote: Chinese Billionaire and Wahaha Founder, Zong Qinghou, Diead at 79.
