Joanna Lu

Expert Partner

Bain & Company


[Interview] The "Golden Age" of Food and Beverage Innovation, How Does Dali Foods Lay Out Behind Its 20-Billion-Yuan Scale?

Whenever there is a new financing or product in F&B industry, we always remind ourselves to look back at the "traditional" giants that have been established for decades but still continue to grow. As one of them, Dali Foods, although gave people the impression of being "old", has achieved revenue of over 20-billion-yuan, gross margin of 39.3% and net margin of 18.4% in the year of 2020, far exceeding most of its peers.
We are curious to know, behind such volume and growth, how does Dali Foods view and respond to changes in the external environment? How to maintain agile innovation?


Joanna Lu is an expert partner in our global Consumer Products practice, based in Shanghai. 

With more than two decades of global marketing leadership experience, Joanna has a proven record of consistently creating brand and business value, particularly through strategic growth transformation, innovation, and digital capability-building. She is also passionate about developing talent and building world-class marketing teams. 

Throughout her career, Joanna has led and advised consumer products brands and their marketing teams, as well as key Digital giants. She has direct professional experience across the United States and Asia-Pacific, especially China and South Korea. 

She recently served as the Greater China and Korea CMO of The Coca-Cola Company. Under her leadership, the $7 billion business delivered high-single-digit growth, became the No.1 global growth engine, and won 3 TCCC global innovation awards and multiple marketing awards, including the 2019 Effie Gold award. 

Prior to joining Coca-Cola, Joanna held a variety of marketing leadership positions at Unilever. 

She was named one of Campaign APAC's "Most Influential CMOs" in 2018 and one of AdAge China's "Women to Watch" in 2014. 

She holds an MBA and a B.A. in Biophysics from Fudan University.