How Did Metersbonwe Come Along?

He was only 20 years old, but he was 300 thousand yuan in debt, and now he is a listed company in Shanghai.

The chairman of the apparel Limited by Share Ltd (hereinafter referred to as "Mei Bang dress" or "Mei Bang") has reached tens of billions of yuan.

Zhou Chengjian, chairman of American bond

Smith Barney

External earnings showed that in 2011, its operating income amounted to 9 billion 945 million yuan, with net profit of 1 billion 206 million yuan.

In the year, the revenues and net profits of Smith Barney's clothing reached its highest historical value.

However, since 2012, the operating income and net profit of Smith Barney clothing have been declining continuously. By 2015, its operating income has dropped to 6 billion 295 million yuan, and net profit has also dropped to -4.32 billion yuan.

In the same period, 1500 stores were closed, and the total number of stores was reduced from 5220 in 2012 to 3700 in 2015.

In August 29, 2016, the annual results released by the US state clothing show that in 2016 1-6, the company achieved operating income of 3 billion 74 million yuan, an increase of 10.70% over the same period, and the net profit attributable to shareholders of the parent company -6019 million, down 1.96% compared with the same period last year.

Metersbonwe believes that, although the main business income of the company reversing the downward trend, to positive growth, but the overall pformation still needs to continue to invest, it is expected in 2016 1-9 months of business performance will be a loss, the loss is expected to reach 160 million yuan.

From the grassroots to the star enterprise, and to today's deep pition, how does the American state come through?

1. a "mistake" led to the listing?

In 1982, Zhou Chengjian, 17, graduated from junior high school. He founded the Qingtian garment button factory in Qingtian, Zhejiang.

Zhou Chengjian received a large order of clothing, which amounted to 300 thousand yuan.

To this end, he borrowed about 300000 from the local credit union to purchase it.

And recruit tailors.

However, the last batch of garments was returned by Party A on the grounds of unqualified fabric.

Haramoto Mitsushi, but Zhou Chengjian has become a "billionaire" in debt 300 thousand.

In 1986, after switching off the factory, Zhou Chengjian set foot on the road to Wenzhou with only 9000 yuan left.

With the help of his uncle and cousins, he made costume processing at the most popular clothing market in Wenzhou at that time.

He found more than 10 tailors from his hometown, selling clothes during the day and making clothes at night.

During that time, Zhou Chengjian lived and worked in the workshop, worked overtime day and night, worked for more than 16 hours a day, and did all dirty work, hard work and heavy work.

He soon paid off his debts and his business grew bigger and bigger.

In the process of making a dress order, Zhou Chengjian accidentally cut a suit of suit sleeves short.

But he would make a mistake and change the sleeves of his suit into jacket sleeves.

Who expected that this suit with early leisure style became the best seller in the market.

This time, it did not produce a great deal of success by common sense, and it also gave Zhou Chengjian great inspiration. After that, he often saw such an act of "accident" in the management and operation of the company.

In the clothing processing market is still in the "bargaining", Zhou Chengjian has played a cost of only 800 yuan, but enough to shake the market advertising - "I give the cost price, you can add money to take clothes to take away"; when the bus was only considered to be a pportation tool at that time, he also advertised his advertisement with double decker buses, and "publicized" the city; in the star endorsement tide, he took the lead in heavy handed gold to invite Aaron Kwok and other star endorsements.

The result of the advertisement was that he got the first barrel of gold from the production of windbreaker.

In 1995, Zhou Chengjian made an unexpected decision again to withdraw from the competition of mainstream suits, attack the casual clothes that few people have set foot in, and create their own brand "Metersbonwe". After that, they quit Wenzhou and moved to Shanghai when their brands dominated Wenzhou casual wear. In 2000, Zhou Chengjian set up Shanghai Metersbonwe dress Limited by Share Ltd in Shanghai.

Zhou Chengjian even gave up the clothing processing business that he started to build. In the highly criticized "no factory" operation, he created his own "production outsourcing, direct operation and joining together" business mode.

From 1995 to 2003, the number of stores in the United States jumped from dozens to more than 1100.

In 2004, rumors spread that the US bond program was listed and raised, but rumours were denied by Zhou Chengjian at the end of 2005.

In August 28, 2008, the US bond apparel was successfully listed on the Shenzhen stock exchange A shares.

On the first day of listing, shares rose 51% against the market, and Zhou Chengjian and his daughter combined more than 16 billion yuan to become the "richest man" in both China's apparel industry and Zhejiang province.

In 2008, the revenues and net profits of Smith Barney's clothing were as high as 4 billion 474 million yuan and 588 million yuan respectively.

Since then, the revenue and net profit of the state's apparel rose sharply, reaching its peak value in 2011 - 9 billion 945 million yuan in revenue and 1 billion 206 million yuan in net profit.

After the summit, the revenue and net profit of Smith Barney's clothing industry began to decline, and a huge loss began in 2015.

Under the continuous downturn, its difficulties and crises are gradually emerging.

2. how difficult is the pformation dilemma of the United States?

Although the US side has publicly stated that its plight is caused by the economic downturn, the outside world has also interpreted the cause of the sluggish domestic traditional brand clothing market as the impact of the Internet.

But in fact, the reason why the United States is facing today's predicament is that its personnel shocks are frequent.

Before listing in 2008, Smith Barney went through 6 major personnel changes, including 5 management departures in 1997, 19 managers leaving in 2002 and 2 vice presidents in February 2004.

In 2008, Zhou Chengjian once said that in the past 13 years, the United States has not done enough in terms of human resources, and is determined to put an end to the seventh cognitive turmoil.

However, in those days, Lu Xiaohu, director and director of financial affairs, and long Zhong Xing, and so on, resigned.

In August 21, 2009, Yang Geling, vice president of Mei Bang dress, submitted his written resignation, which was the 8 personnel change for his younger brother.

Since then, in 2011 and 2012, the news of the departure of American state clothing executives has been heard.

Journalists have interpreted the reasons for frequent unrest in American state clothing as their pressure to inventory and report.

At the end of 2011, American barn clothing was exposed to 2 billion 560 million inventory pressure. When textile and garment listed companies generally lost money or profits fell, the data report released by the 2012 semi annual dress of American bond apparel appeared to be "gorgeous" - revenue growth 21% and net profit growth 15%.

In fact, as mentioned above, from 2012 to 2015, the revenues and net profits of the American apparel industry continued to decline, and its financial reports could not sustain magnificent data for a long time.

In 2013, the three quarterly report showed that the operating income of the company during the reporting period was 5 billion 716 million yuan, down 20% from the same period last year, and the net profit was 382 million yuan, a decrease of about 49.12% compared with the same period last year.

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Poor earnings caused many major shareholders of Smith Barney to reduce shares.

In March 10, 2014, the American Apparel announced that Shanghai Huafu Investment Co., Ltd. (hereinafter referred to as "China clothing investment"), through the bulk trading of the Shenzhen stock exchange, totally reduced the company's unlimited sale of tradable shares by 505 shares.

It is reported that Zhou Chengjian owns 70% stake in Chinese clothing, and the other 30% stake is owned by Shanghai keg, while Shanghai keg's 90% stake is owned by Zhou Chengjian, while the remaining 10% stake is owned by her female Hu Jiajia.

In fact, as early as December 2010, the United States has launched an online business platform to start its Internet pformation, allowing consumers to shop in the physical stores, online shopping, offline returns and other functions; by the end of 2013, the United States will independently operate the state purchase network back to the listed companies.

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The US internet pformation attempt also includes investment in O2O. It has launched the O2O experience store of "one city, one culture, one store, one story", and O2O products such as "fan" App, but most of them have little effect.

However, at the end of 2013, the US stock fell by about 430 million yuan compared with the beginning of the year.

The United States also unveiled its 4 initiatives in its pformation.

1, in depth to promote the pformation and innovation of private brand business, Meters/bonwe main brand launched leisure, metropolis, fashion, MTEE, Tebond five styles series, accurate target consumers.

2, actively improve sales performance, expand sales channels, accelerate the development and practice of new business, and enhance the professional ability and lean management ability of the organization, so as to provide a high cost performance fashion life experience for all kinds of target consumers.

3, continue to strengthen the meticulous management of traditional channels, strengthen the "end to end" management capacity building, make up the weak links in business management, enhance the efficiency of resource integration, provide differentiated products and personalized shopping experience for consumers through different channels.

4, the company and famous animation, game and Internet Co intensify cross-border cooperation, from creative design to product development, marketing and other links to carry out deep integration.

With the help of the official opening of Disney Park in Shanghai, a series of fashion products including men and women casual wear, home wear, children's wear, accessories and casual shoes have been launched.