Why Brand China is poised for global dominance

Foreign brands are starting to lose out to enterprising local brands in the Chinese market. If they don't adapt, they will become vulnerable in their home markets, too.

Foreign brands have long dominated the consumer market in China. From cars to sneakers, foreign imports have traditionally been seen as of better quality and have served as a marker of status. But according to a new report, foreign imported goods are now facing a serious challenge from local brands.

More than 60 per cent of foreign brands of fast-moving consumer goods lost market share last year, according to the latest China shopper report by Bain & Company and Kantar Worldpanel, a consumer research company.

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