Zhou Chengjian: Winner Of Fashion Innovation

Zhou Chengjian burst into tears. In August 28, 2008, the United States entered the small and medium-sized board, and raised 1 billion 400 million yuan. That evening, he invited all the Zhejiang businessmen who came to the scene that evening: Guo Guangchang, Zheng Yonggang, Jiang Xipei and others. At ordinary times, he was very low-key. He was very cautious in his speech. He shouted a few words on the stage that he claimed to be drunk and bold, "to fix the whole Chinese market and get the whole Chinese consumers". "What's wrong with our tailors?" After a few months, when he looked back at the moment on the screen, he could not help crying in public. Zhou Chengjian's 2008 was really unusual. This year, the domestic macro regulation and control, the global financial crisis and the IPO of enterprises are in a state of stagnation. All kinds of unfavorable factors make Zhejiang and even the whole country's business circles go all over the place. At least half of the garment enterprises in Zhejiang are in a state of closing, closing factories and closing down. However, Zhou Chengjian was not affected by bad years. As of January 16, 2009, the price of Mei Bang apparel (002269 SZ) closed at 26.65 yuan, with a P / E ratio of 39.2 times, much higher than that of other Zhejiang clothing companies such as YOUNGOR, seven wolves, and wedding birds. Zhou Chengjian holds nearly 70% of American state clothing and shares, worth about 15000000000 yuan, more than Chen Yihong, becoming the richest clothing industry in the mainland. He has been a tailor for more than 20 years, and has set up the 13 years of the United States. Zhou Chengjian is not the typical representative of the first generation of Zhejiang businessmen in China. In 1995, all Chinese clothing enterprises were rushing to run factories to make vertical integration of production, supply and marketing. Zhou Chengjian founded a company that had no factories, no self built stores, and only design centers and warehouses. He has not studied much and read very little. He has worked out a light asset mode of production outsourcing, market entrustment and integrated supply chain. At that time, Smith was accused of being a purse company. Zhou Chengjian was cursed for 3 years. More than 10 years later, the United States, with its unique business model and lightness and no backpack, challenged ZARA and H&M to win the recognition of the capital market for the business community. His pioneering career for more than 20 years is also a typical example of the founder of Chinese family businesses: he grew up in a poor peasant family, with a technical skill, a keen insight in the market, and a pioneering spirit; when he was bitter, he persevered in his patience, and stealthily stealthed after his success; he regarded the shares of his firm as family blood and firmly cling to it, hoping to pass it from generation to generation. He appreciated that Jack Welch could cultivate so many world top 500 CEO, but he could never find the magic tricks to get along with professional managers. In May 2008 and January 2009, Zhou Chengjian, an entrepreneur's magazine, interviewed a number of topics about how the United States started from an entrepreneurial company to a mature enterprise. Zhou Chengjian said that in 2009, the US •, bang Wei will say goodbye to an immature beauty. The new starting point ME&CITY:13 years later, in August 28, 2008, the United States issued 70 million shares of A shares, the issue price of 19.76 yuan / share, the same day closed at 26.90 yuan, the counter trend rose 36.19%. Analysts pointed out that the characteristics of the American state's light assets make it unnecessary to bear too much pressure on equipment, factories and human capital, especially in the economic downturn cycle. Zhou Chengjian gained more valuable development funds in the most severe economic and cold winter. What does IPO mean to him? "In 2008, the successful textile and apparel industry successfully listed was only one of the US and the United States, the retail industry has BBK, and the manufacturing industry has Joyoung. They are excellent companies. The successful listing of Smith Barney was not in 2008. We started preparing three years ago, but the result is reflected in this year. Listing and financing is an annual event, but not the most important thing. In my mind, the introduction of the second brand ME&CITY is the most important event this year. If the listing is successful and the cash flow is abundant, we can push ME&CITY vigorously; otherwise, the second brand can only be postponed. " On the day of the A share market, the ME&CITY brand conference was held in Shenzhen. ME&CITY is mainly targeted at 18~35 year old consumer groups, emphasizing quality, market and personality. Why did Zhou Chengjian take the first step in 13 years before he took the double brand? Why are we so slow? Maybe I am not smart, so I am slow, I use time to exchange space. I am not mature enough, sometimes the enterprise will be beautiful because it is immature. With the accumulation of Metersbonwe in more than 10 years to achieve today's scale, ME&CITY only needs 3~5 years to achieve today's US state. At present, these two brands operate through two departments. They share management platform, supply chain platform and risk control system, but have independent shop system and different brand strategy and business strategy. In January 9, 2009, just before Zhou Chengjian accepted the interview with entrepreneur, the Yangtze River Business School held an entrepreneur's internal seminar. KAPPA founder Chen Yihong, Hanting Hotels CEO Ji Qi and Zhou Chengjian lined up on the podium. The theme of Chen Yihong's talk was "how to build the best brand management company in China". Ji Qi appreciates the investment of He Boquan (Han Ting rival - 7 day hotel angel investor), and Zhou Chengjian was asked how to enhance the leadership of family business. Zhou Chengjian was very dissatisfied with his answer on the stage and felt that he had not thoroughly talked about his 2008 year management experience. "The biggest challenge I am facing now is how to turn personal capabilities into corporate capabilities. In 2009, my biggest change was from the front-line development in the past to the construction of the backstage. I will put 80% of my energy on the soft culture, hard process and the replication of the system. At present, the US • has two business units, one operates the American brand, one runs ME&CITY, and I serve as president of ME&CITY, but I will develop a president from inside to replace me. "I think that the vitality of an enterprise should be viewed from three dimensions: the executive power of the entrepreneur, the replication power of the system and the risk control power. If the executive ability of the entrepreneur is very strong and the internal system of the enterprise is not well constructed, the bigger the business is, the greater the risk will be. If an enterprise system is well constructed, but the pioneering ability of the leader is not strong enough, and it is not diligent enough, this kind of enterprise is a professional manager's enterprise, so it is difficult to have sustained and vigorous vitality. "In the past ten years when I set up •, I have strong executive power, but there are always problems at the enterprise level, and there are always some people leaving the entrepreneurial team. I always wonder what the reason is, I always feel that I have made the request very clear, but the team execution is not in place. The team members felt very aggrieved that they had tried their best, but the boss could not see them. Finally, they clashed and lost confidence. Recently, I have been reflecting on this issue. I think there is a problem in the evaluation system of talents. In the past, we looked at people in a post too emotional, and lacked quantifiable and standardized things. Like many entrepreneurs in China, I always want to drop a professional manager and give him a lot of money to solve all the problems of the company. Later he found that he could not do it and lost patience. In fact, this is also a problem of unclear job evaluation. Entrepreneurs' unilateral imagination of airborne people is a big trap. People must have standards and people should have systems. This is the biggest lesson I have made in the United States for more than a decade. "Now, I understand more and more what Liu Chuanzhi calls the importance of" teamwork and team ". Enterprises should not only produce products, but also produce talents. I adore Jack • Welch, he can cultivate so many of the world's top 500 CEO, and if anyone walks away, the business system still works well. Is it highly valuable for enterprises? Zhou Chengjian's absolute holding of the US state has been controversial. Since the founding of the United States, Zhou Chengjian has not introduced any foreign investors. It is widely rumored that the entrepreneurial team in the US state has been leaving, which is closely related to Zhou Chengjian's high control over the stock rights. However, Zhou Chengjian said that 7 years ago, he had suggested that management could buy shares, but the team was not interested in paying wages. In the US bond dress, Zhou Chengjian and daughter Hu Jiajia hold 80% of the company's stake. Can Zhou Chengjian's equity view push the us to achieve broader goals? "I do have a lot of shares, but I want to have more and more resources that will continue to motivate people. Too quickly to disperse the capital of enterprises, and quickly dilute the shares of entrepreneurs to less than 10%, entrepreneurs will soon lose the passion and motivation of business enterprises. Because he is doing 100% of the work, but only 10% of the shares, not doing well, the capital market will also curse him. Why does he have to work so hard? "Someone said I was reluctant to give up, and they were right. I want to have more opportunities and space to motivate people from generation to generation and assign them to more teams. I hope to allocate at least 3~5 times. After the dilution of 3~5 shares, I can still take up 30%~40%. Therefore, I must grasp the right of distribution in the stock right, otherwise I will be irresponsible to the enterprise. For me now, whether equity or wealth, more than one billion or one hundred million is of no value, but they are very valuable for my goal. "Some people in the team left before the listing. The fundamental reason is not that I did not give them the shares, but that my valuation system for the team was not clear and quantitative. But are those companies that are very dispersed in the stock market not the same after the listing? Is highly dispersed ownership valuable for enterprises? The opportunity and pitfall of winter. In May 2008, Zhou Chengjian did not show his concern about IPO in the winter in the interview with entrepreneur at •, Shanghai. But he had a deep understanding of the negative effects of the active capital market in recent years on the garment industry. How did Zhou Chengjian view the opportunities and challenges brought by the capital after its listing? "In the past 5 years, the active capital has brought great opportunities to many people. The more people who seize opportunities, the greater their depreciation today. I'm glad I wasn't involved in this trap. But if the United States was listed in 2007, I would probably get involved. Because more money, there will be more impulse to expand capital. Therefore, the most difficult thing for an entrepreneur is to clearly understand his position and grasp his rhythm. In recent years, the person I admire most is Guo Guangchang. I appreciate his two points: first, I am clear about myself. He said again and again that I am an investor, not an industrialist; I only divide money, no matter how much money I make. Second, his macroscopic sense of smell is very good. In 2007, he listed and raised funds at the best time in the stock market; in 2008, he grasped a series of investment opportunities accurately. "I think the United States is facing the opportunity behind the trap of opportunity. First of all, in the cold winter, people's consumption habits will change. People who used to consume high-end luxury goods will shift to the middle end, which is a great opportunity for the two brands of the United States. Second, the upstream of our supply chain has also changed. In the past, only the world's top 500 enterprises processing supporting manufacturers began to serve us. In the past, ZARA's domestic processing plants didn't pick up our lists at all, but now they have become our important partners. To cooperate with them to enhance the capability of fast response in the US supply chain is the most lacking in US state and the greatest value they bring to us. "Now, the US capital is abundant, the strategy is clear, the consumers are inclined to us, and the upstream manufacturers join us in continuously enhancing their core competitiveness. In 2009, ~2010 will be the great development year of the United States. Wang Xiaonan: editor in charge