In the 7 years since he took over Metersbonwe, Hu Jiajia has proved with practical actions what it means to be "not afraid of the rich second generation of drunken gold fans, but afraid of the rich second generation to prove themselves". After 7 years of hard work, she successfully sent Metersbonwe from the "general ward" to the ICU.
Over the past 7 years, every time Metersbonwe has been on the hot search, it is related to the negative.
First, the company suffered huge losses in 2017 and 2018; and in 2019, Hu Jiajia was limited in height and became an "old lai"; Later, from 2020 to 2023, the core assets will be sold non-stop, and the stores in Shanghai and Chengdu will be sold one after another.
A cumulative loss of 3.2 billion in 7 years.
Fortunately, when Meibang was brilliant, her father Zhou Chengjian bought some shops, which have appreciated a lot over the years, and can be sold for cash. Otherwise, Meibang would have been wiped out.
Today, Metersbonwe's debt ratio has reached 90%, and the slightest carelessness will lead to insolvency and bankruptcy.
What did Hu Jiajia do wrong? Why is there a "the harder you try, the more tragic it is"?
Hu Jiajia is the eldest daughter of Zhou Chengjian, the founder of Metersbonwe, and because of her single-parent family, she and her mother have the surname Hu. But Zhou Chengjian did not treat his daughter badly, and still sent her to study in the UK, giving her the best conditions in the process of growing up.
After returning to China, Hu Jiajia, like other rich second generations, worked in Meibang, and slowly worked from the grassroots to the management, contributing to the family business.
The accident happened in 2016, Zhou Chengjian was involved in the case of fellow villager Xu Xiang, needed to cooperate with the investigation, was forced to resign, and selected the first person in a panic.
Zhou Chengjian has a total of three children, two sons and one daughter. If it weren't for helplessness, ** people wouldn't have fallen on their daughter's head anyway.
The situation at that time was that the eldest son had no interest in business management, and he just wanted to be a low-key rich second generation, and he was the first to go out.
The youngest son Zhou Bangwei was originally Zhou Chengjian's favorite ** person, and the "Bangwei" in Metersbonwe is Zhou Bangwei's "Bangwei". Unfortunately, the youngest son is only 18 years old, and he has just received an admission letter from Columbia University, so he can't take over the class at all.
The only one who has the conditions and ability is the only one left with the 30-year-old eldest daughter Hu Jiajia, so she acted like thisTransitional figures, she was pushed to the front desk and became the chairman.
What is the situation of Meibang at this time?
In four words, it is "a mess".
In first- and second-tier cities, Meibang was beaten into doubt by foreign fast fashion brands such as Uniqlo and ZARA, closing an average of 200-300 stores every year, losing its status as a domestic brand "first brother".
The rise and destruction of Meibang are due to the fact that the fashion of Hong Kong and Taiwan is too tightly attached.
Around 2000, it was the period when Hong Kong and Taiwan film and television dramas "invaded" the mainland on a large scale, and stars such as Aaron Kwok, Jay Chou, Jolin Tsai, and F4 became the objects of imitation by the post-80s.
Meibang just pasted this trend, and the new products are all in the style of Hong Kong and Taiwan idol dramas, in terms of the current aesthetics, although it is a bit exaggerated, but it chokes the aesthetics of the post-80s. To this day, among the loyal customers of Maimeibang, the post-80s generation is still the main force.
After 2010, after Uniqlo and ZARA, which symbolized the international trend, entered the mainland, Hong Kong typhoon immediately became synonymous with low, not only the post-90s generation in the mainland abandoned Meibang, but also the young people in Taiwan and Hong Kong abandoned local brands.
The decline of the Hong Kong typhoon almost coincides with the decline of TVB and Taiwanese dramas, which is the failure of pop culture.
Meibang did not adjust the design ideas in time, and still followed the Hong Kong typhoon, and after two or three years, it realized that the situation was wrong, and the clothes could not be sold after 2012.
Don't underestimate the impact of these two years, for a very fast-paced industry like clothing, missing two years means falling behind the times and being abandoned by consumers.
Why do Uniqlo and ZARA produce more than 5,000 ** a year? In essence, it is not sure of the fashion trend of the season, so it is simply a series in each direction, focusing on a "large amount of tubes" and "there is always one suitable for you".
The current shein also follows this logic, and what is even more terrifying is that it can get 100,000 ** a year, beating Uniqlo and Zara crying dad and mother.
Fast fashion, fight is speed, whoever can achieve the ultimate speed, who will control the market.
Meibang, a traditional brand, produces 200 new products a year, only one-25th of Uniqlo ZARA and one-500th of SHEIN, the scope of trial and error is too small, and it is impossible to beat the new brand of new products "flooded".
Therefore, Meibang's bombs were planted by Zhou Chengjian, ** after Hu Jiajia took over.
In the 7 years since he took over, Hu Jiajia has been very sad to rebuild the new product team of Meibang and to dismantle the bomb left by his father.
For example, if Meibang wants to regain its competitiveness, it must first reform the logic of producing new products and establish a "flexible chain". Use a small number of new products with many styles to test the reflection of the market, screen out the most popular models, and then copy them in large quantities.
It sounds easy, and it is not difficult for Meibang to turn around, but the problem is that Hu Jiajia can't collect enough market data on his hands. Meibang's poor sales volume is also an offline store model, and the data feedback is small and slow, which makes it difficult to provide data support for the screening of popular models.
The data put into the market by SHEIN has feedback every day, and it may take half a month for Meibang to close a round, and during this time, SHEIN has completed the testing of thousands of new products. To put it mildly, at such a slow speed, Meibang can't catch up with a hot bite of what she wants to eat.
Debt repayment is the only thing that can make it to the hot search.
Every year, Hu Jiajia will meet creditors who come to the door to ask for money, and the clothes can't be sold, so they have to sell their houses, relying on some of the family funds accumulated 20 years ago, selling Shanghai the year before last, and selling Chengdu this year, barely maintaining it so far.
Hu Jiajia is known for her good temper within Meibang, rarely gets angry, and never says anything serious to employees. It is in stark contrast to his father Zhou Chengjian's fiery temper that scolds him when he disagrees.
Today's Meibang has reached the moment of life and death, the good-tempered Hu Jiajia is not suitable to be a leader, and needs a quick knife to cut through the chaos to fight a bloody road in the future, Zhou Chengjian is the right choice to go out of the mountain again.
Hu Jiajia, who graduated from an elite university in the UK, is by no means a lazy loser. The more she tried, the more tragic the fundamental reason was that the times have changed, and the logic of being a fashion brand is different, after all, in addition to luxury, there are very few fashion brands that can survive for a hundred years.
Author: Jiang Zuo Youan.