For about two decades, Kelly Zong Fuli operated in the shadows of her father, beverage tycoon Zong Qinghou ¡ª once China¡¯s richest man. His death last month is now thrusting the woman known as the ¡°Princess of Wahaha¡± into the spotlight.
It won¡¯t be easy for the 42-year-old heiress, who¡¯s poised to take over an empire fighting for relevance. Sales at the family¡¯s Hangzhou Wahaha Group have fallen in an increasingly competitive market, and another beverage tycoon has become China¡¯s wealthiest person: Nongfu Spring Co.¡¯s Zhong Shanshan.
¡°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.¡±
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