I wonder what the Chinese babies are drinking now. Baby formula is quite sticky, and once parents become attached to one product, it'll be hard to switch. COVID forced the switch for a lot of parents because the daigous aren't operating, but it's hard to see a V shaped rebound in sales even when it's back up and running. There may be further erosion to margins as they ramp up marketing spend.
I wonder what the Chinese babies are drinking now. Baby formula...
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