Premium brands competing over the growing purchasing power of Gen Z and millennial consumers could have a lot to gain.

Gen Z and millennials wield nearly $165 billion in purchasing power, and their spending is expected to boom as the two cohorts inherit an estimated $60 trillion of wealth by 2050, according to research by TD Cowen.

These brands are well positioned for the millennial, Gen Z wealth boom: TD Cowen comes via ChinaTechNews.com.