“I have spent more than 25 years working with luxury and apparel brands in China, first with local companies before becoming the China Director of Hermes and then the Head of China for Bottega Veneta. I now proudly serve as the CEO of Yeehoo and the group of Little Star companies.
China’s traditional values have always centered on raising and nurturing our youth. For more than twenty years, Yeehoo has dedicated itself to providing its valued customers with high quality and safe products, and the brand is now a market leader in babywear and baby products.
The continued relaxation of China’s “One Child Policy” and China’s rising middle class are creating tailwinds for the industry. To capitalize on this opportunity we are devoted to the brand and mission of our businesses, and to create personal connections with our customers through our consumer experience.Brand is important. With our businesses, we work with the best photographers to capture our products, the best designers to create unique experiences, and the best producers to ensure quality and safety for our consumers.
We cherish the life of every child, because we view children as a uniquely precious gift to the world. Yeehoo’s philosophy is to grow as the kids grow, starting from their first few moments in life, and our dream is that when future parents talk about their preferred brand of babywear, the first name that comes up will be Yeehoo.”
About Feng GAO
Feng GAO is the CEO of the Little Star Brands group of companies, which includes the brands Yeehoo, Peekaboo, Soho Baby and I Pinco Pallino. Feng has more than 25 years of experience working in branded luxury and apparel businesses. He is the Founder of the Littler Star Children’s Growth Foundation and Vice President of China’s Toy and Baby Products Association.Before joining Lunar and Little Star, Feng served as the China Head of Bottega Veneta and China Director of Hermes. Feng graduated from Shanghai International Studies and serves as a senior advisor to the School of Luxury Management of Sichuan Foreign Studies.
“Over the past several years, we have mapped China’s healthy snack food market and are very optimistic about the sector’s potential. We are aggressively investing with the vision of building a platform through acquisition and organic growth, that will become a clear market leader – the Castle Snacks platform.
As China’s development model shifts from FAI and exports to domestic consumption, per capita disposable income is on the rise and many consuming as a means of achieving a higher quality life. China’s per capita expenditure on snack food lags well behind that of developed countries, which highlights enormous growth potential.
We believe we were an early mover in the snack food space, which began with our acquisition of Yonghong Foods in 2013 and continues today with the acquisitions of Yao Taitai, Beijing Orchard Farmer, and Shanghai LifeFun.
While the snack food industry is quite robust, it is also highly fragmented with thousands of players competing for a total market of more than 100 billion RMB. Most brands are regional and fairly niche with limited national distribution and there is no clear national leader.
According to AT Kearney, the top 10 brands represent only 20% of the total market. However, due to strong consolidation trends, we believe brands with regional advantages will have an opportunity to become national champions through channel expansion, product innovation and M&A.
As we continue build out Castle Snacks with additional acquisitions, we are innovating products, improving packaging design, and developing an omnichannel sales strategy. We have also experienced early success with bringing our brands online and have penetrated younger consumers, who are becoming a key consumer demographic for snack food consumption.”
About Bin SHEN
Bin SHEN is a Director and a member of Lunar’s investment team. Bin has more than seven years of investment experience in China and leads Lunar’s efforts in exploring opportunities in healthy snacks and related sectors.
Prior to joining Lunar, Bin worked at Capital One, responsible for managing its Canadian rewards credit card portfolio and credit risk control. Bin holds a Masters of Arts in Management Science & Engineering from Stanford University and a Bachelor of Arts in Engineering from University of Toronto.
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