Overnight, The Streets Are Full Of MCM. How Did It Burst Red?

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In the past few years, in the past few quarters in Britain, a new It bag has emerged.

It may be gold brown, dark blue or candy colored powder, perhaps with metal rivets or overpowering spikes.

Whether it's a Satchel Bag, a bucket bag or a backpack, it is filled with a recurring symbol: a laurel tree, a diamond and a letter MCM.

Even if you haven't heard of MCM, you must have seen it somewhere.

Celebrities from Cristiano Ronaldo to Beyonc e to Rihanna, or fashion chasing students can see it on their backs.

In general, consumers are mostly young people: bloggers will blot out photos instead of veteran editors in front of fashion shows.

According to Maude Churchill, a street fashion website, MCM suddenly appeared on the street a few years ago. Since then, it has been able to find it around all celebrities, and has also worked with designers and artists in a reliable way.

"MCM crosses the boundaries of street clothing and high-end fashion," she said.

"It is

Luxurious but kitsch. "

So how did MCM become a new generation of It Bag? The British media tells the story of MCM, which has already been full of streets in China and has just recently entered the British market.

It is not new to be popular among young people, but the strange thing about MCM is that its price far exceeds the range that students can afford - for example, the postage bag of 380 pounds, the 530 handbag, and the highest priced 1735 pound or even 3135 pound limited snake bag.

Most of the British consumers are not familiar with the brand in well-informed fashion and street apparel circles.

This is a thorny problem for the luxury leather market built on the basis of inheritance. Whether it is the Louis Vuitton travel coat box equipment of the India nobility in 1920s or the Grace s package of Grace Kelly as a barrier to protect the paparazzi in 1950s, history and story narratives are everything.

In fact, MCM is also available.

It's still a very exciting story.

The company was founded in Germany in 1976 and named after its founder Michael Cromer M nchen.

Inspired by repeated patterns on the Louis Vuitton package, MCM's package became popular in 1980s. Diana Ross used MCM's suitcase in the tour. In Dynasty, the MCM large suitcase carried by a porter also became a sign of wealth and success.

By 1990s, MCM had more than 250 shops in the world. In the advertisement shot by Herb Ritts, there was only one MCM bag in the naked Cindy Crawford.

In the first ten years of twenty-first Century, MCM's business stagnated and got into financial problems.

Its founder was investigated for tax evasion, fake products flooded the market and brand design lost its appeal.

Over the past ten years, MCM has hardly been mentioned by western fashion circles.

MCM's savior is from South Korea. One of the few places where performance is still good, the company authorized the brand Sungjoo Group and bought the brand in 2005.

Since then, MCM's global sales have stood at 100 million US dollars (60 million pounds).

After changing the name (now the name is Modern Creation M nchen) and invites Adidas global creative director Michael Michalsky to create a dynamic, dynamic, youthful design, MCM starts to flourish:

Sales in 2011 amounted to US $400 million; in 2013, US $500 million.

Sales are expected to hit $650 million this year, and the company is considering listing and reaching 1 billion 500 million dollars in the next 3-4 years.

Asia is the main market for MCM, as well as the extension of other markets. China, Korea and Japan respectively account for nearly MCM of 1/3's revenue. The European market is mature enough to expand business. The 105 square meter boutique of Harrods opened last month in London and the boutique that is expected to be opened in Bond Street next year can prove this.

According to Jin Shengzhu, the company's charming chief prospect Officer (yes, not CEO, but Chief Visionary Officer), so far, their success has depended on the unique understanding of the significant development of the luxury industry.

First of all, she said, the millennial generation "is born with computers, so the way of life of the millennial generation is totally different. They want the brand to be interactive, and luxury can also be functional."

Pure traditional high-end shops "more like temples, are one-sided and arrogant, waiting for consumers to come to worship!"

Secondly, she said, "no exception now, luxury brands earn more than 60% to 70% of the profits from the Asian market, or those who travel around the world.

And unlike the existing generation of customers, the new generation of customers is the promoters and influencers of the brand.

She called these customers "twenty-first Century wanderers in the world" and said they do not all have stable high incomes, though their parents may have, but they often save money for MCM's new luxury brand.

Jin Shengzhu believes that the success of the company's rucksack comes from her new global Rover consumer theory.

"Ironically, the best seller in handbag business is the bag free," she said. "But from a socioeconomic point of view, this is understandable.

This kind of backpack is practical and portable.

It is also a key factor for men and women. For example, in the first tier market of China's MCM knapsack, "more men buy luxury than women."

However,

The brand is not considered to belong to Korea or Asia, but firmly believed to be German brand.

She pointed out that design and production mainly came from Germany and Italy, and other European brands, from Mulberry to Escada, were owned by Asian companies.

"All the main brands may have Asian elements. Chanel, too, especially Gucci, uses gold, crystal, black-and-white and color elements.

They know that consumers of rich brands in Asia and Russia are increasing, "she said." design has become more globalized.

She said, MCM is actually "a global product cultivated in the cradle of Korea".

This is really an incredible twenty-first Century.