China Nationalists Target Top Tycoon’s Firm in Internet Boycott
- Online anger dragging on stock; has dropped almost 6%
- Brand targeted by increasingly nationalist mainland netizens
Netizens have jumped to criticize everything from Nongfu Spring’s packaging, which some argue has elements that can be associated with Japan.
Photographer: Qilai Shen/BloombergThis article is for subscribers only.
Chinese beverage giant Nongfu Spring Co. is the latest major brand to come under fire from the mainland’s online army of nationalist citizens, underscoring challenges for domestic firms navigating an increasingly patriotic environment.
Netizens on local platforms are calling for a boycott of Nongfu Spring’s products after the founder of key rival Hangzhou Wahaha Group Co. passed away Feb. 25, triggering a wave of unfavorable comparisons. That’s dragging on its stock, which has since dropped almost 6% — making it one of the worst performers on the Hang Seng China Enterprises Index.