Probably not so much Tier 4 (from memory), but I recall there were some good examples of how they were going about targeting Tier 2/3.
Certain provinces are likely to buck the birth rate trend, whether it be due to greater responsivess to policy changes, traditionally larger family sizes, or other fertility related factors.
It is evident in the store counts that they are targeting these areas - Guangdong province was a good example where theyve broken through from Tier1 to Tier 2 and 3 cities.
They remain heavily underweight in Tiers 2/3 (as of the Stratgy update) even though this accounts for a larger chunk of China label sales than Tier 1. So growing distribution in Tier 2/3 could be hugely rewarding if it is achieved, and even more so if these regions grow economically as you suggested.
A2M Price at posting:
$4.58 Sentiment: Buy Disclosure: Held
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