Do you remember the slogan "off the beaten path"?Do you remember the clothing brand Metersbonwe that was once popular all over the country?You may not know that this former "king of pedestrian streets" is now in an existential crisis. In order to save itself, it had to sell its stores frequently, even the *** on Chunxi Road in Chengdu. And the one who took over turned out to be another old clothing brand Youngor.
Metersbonwe is the flagship brand of Metersbonwe Apparel, founded in 1995 and created by Mr. Zhou Chengjian. Its name means "Beauty is special here, raising the prestige of our state", and its advertising slogan "go off the beaten path" has become a fashion statement for a generation.
With its fashion, personality and bold design style, Metersbonwe has quickly won the love of young consumers and has become a leading brand in China's apparel market. In 2008, Meibang Apparel was successfully listed and became the first stock of Chinese clothing, and Zhou Chengjian also became a billionaire.
However, the good times did not last long, and Metersbonwe began to decline after going public. On the one hand, its design has lost its sense of innovation and fashion, cannot keep up with the changes in young people's aesthetics and consumption Xi, products cannot be sold, and inventory is seriously overstocked;On the other hand, its costs and advertising expenses are high, resulting in heavy losses and accumulated debts.
From 2019 to 2022, Meibang has lost money for four consecutive years, with a cumulative loss of nearly 3 billion yuan, and its revenue has also dropped from 5.4 billion yuan to 1.4 billion yuan, less than 30% of that year. The number of stores has also shrunk by more than half from 2,003 in 2018 to 925 in the first half of 2023.
There are many reasons for the failure of Metersbonwe, such as the intensification of market competition, the invasion of international brands, the rise of e-commerce platforms, the differentiation of consumers, and so on. But the most fundamental reason is its own problem. It ignores the quality and design of products, abandons the core R&D and chain management, and outsources its own soul.
It also ignores consumer needs and feedback, is obsessed with its own ideas and practices, and is reluctant to change and innovate. It ignores the changes and trends of the times, clings to the glory and achievements of the past, and does not dare to face the reality and the future.
Compared with Metersbonwe, Youngor is a more low-key brand, which is mainly based on **, represented by suits, shirts, ties, etc., and is positioned in high-end business casual clothing. YOUNGOR was founded in 1980 by Mr. Li Rucheng.
Its name means "elegant golf", and its advertising slogan "Youngor, the world of men" also reflects its brand philosophy. With its elegant, delicate and comfortable product quality, YOUNGOR has won the favor of many successful men and has become the leading brand in China's leading market. In 2000, Youngor was successfully listed and became the first stock in China, and Li Rucheng also became a billionaire.
Unlike Metersbonwe, Youngor did not go downhill after its listing, but continued to maintain steady development. On the one hand, it adheres to the quality and design of products, constantly strengthens its own research and development and chain management, and enhances its brand image and valueOn the other hand, it pays attention to the needs and feedback of consumers, constantly adjusts its products and services, and expands its own markets and channels.
From 2000 to 2022, YOUNGOR's revenue increased from 900 million yuan to 7.8 billion yuan, an increase of nearly 8 times, and its net profit increased from 1500 million yuan increased to 800 million yuan, an increase of nearly 5 times. The number of stores has also increased from 300 in 2000 to 2,000 in the first half of 2023, an increase of nearly 6 times.
There are many reasons for the success of YOUNGOR, such as the accuracy of market positioning, the stability of brand image, the excellent product quality, the improvement of service level, the improvement of channel network, and the positive market expansion. But the most fundamental reason is its own problem.
It attaches great importance to the quality and design of products, adheres to the core research and development and first-chain management, and retains its own soul. It also values the needs and feedback of consumers, constantly learns and Xi improves, and dares to change and innovate. It attaches more importance to the changes and trends of the times, keenly grasps opportunities and challenges, and has the courage to face the reality and the future.
Metersbonwe and Youngor, as two old clothing brands, originally had no intersection, but in recent years, they have frequently appeared in the public eye because of one thing, that is, selling real estate. Since 2019, in order to alleviate the debt crisis, Meibang has continued to ** its own stores, and it is Youngor who has taken over. Over the past year, Youngor has made four shots, with a total of nearly 1.3 billion yuan for Meibang clothing, the most recent of which is 6800 million yuan, the acquisition of Meibang clothing in Chengdu Chunxi Road
Why did Youngor take over the store of Meibang clothing?Some people say that this is because Youngor has money and leisure, and wants to do charity and help a peer;Some people say that this is because Youngor has the vision and courage to make investments and buy and sell first-hand housesSome people say that this is because Youngor has ambitions and plans, and wants to expand and occupy a new market.
Youngor knows that the garment industry is a fast-changing industry, and if you want to survive and develop in the competition, you must constantly adapt to the changes in the market and adjust your strategy and model. Youngor also knows his strengths and weaknesses, his opportunities and threats.
It understands that its ** market is already very mature and stable, but it is difficult to have a large room for growth, and it is also facing the challenges of international brands and emerging brands. It also understands that its own ** market is still weak and insufficient, but it also has great potential and demand, and there are also many opportunities and resources.
Metersbonwe and Youngor are two different brands with different stories and different destinies. Metersbonwe, once the "king of pedestrian streets", has now become the "king of real estate sales", its glory has become history, and its future is full of uncertainty. Youngor, who has always been a "man's world", has now become the "king of pick-up", its stability continues, and its transformation is also underway. This is a story of mixed joy and sorrow, but also a story of revelation and warning.