The story of Metersbonwe began in 1995 when Mr. Zhou Chengjian started his brand in Wenzhou, Zhejiang Province, with his keen insight into the apparel industry and relentless entrepreneurial spirit. Targeting young people, Metersbonwe has launched a series of casual apparel products, which quickly occupied the market and won the love of consumers with its unique brand style.
Hu Jiajia, as the daughter of founder Zhou Chengjian, has been involved in the family business since childhood. She completed her studies at prestigious universities abroad and gained a wealth of practical experience in various departments of the company. In 2016, she officially succeeded her father as chairman of Metersbonwe, and took on the responsibility of bringing traditional enterprises into the modern track.
At the beginning of her tenure, Hu Jiajia showed her ambition. She tried to reinvent the old company through a series of rebellious and bold management strategies, including a rejuvenation of the brand image, a renewal of the product line, and an innovation in marketing methods. However, while these reforms have attracted the attention of a new generation of consumers to some extent, they have not translated into sustained sales growth. On the contrary, due to various reasons, the company's performance began to decline seriously, with a cumulative loss of nearly 3.2 billion yuan.
The reason for this is that with the rapid development of e-commerce and the increasingly fierce market competition, Metersbonwe is facing unprecedented challenges. The traditional offline retail model has been impacted, and the development of the online market has failed to achieve the expected results. In addition, the repositioning of the brand did not fully meet the needs of the target group, resulting in the gradual erosion of market share by other competitors.
Faced with the predicament, Mr. Zhou Chengjian had to go back to the mountain to try to turn the situation around. He focused on adjusting the company's management structure, while optimizing the first-chain system and reducing unnecessary expenses. In order to adapt to the new consumption trend, Metersbonwe has also tried new formats such as live e-commerce, hoping to shorten the distance with young consumers in this way.
Transformation is no easy task, especially for family businesses, where the balance between inheritance and innovation is particularly difficult. The case of Metersbonwe tells us that the successor of a family business not only needs to maintain the values of the family, but also has the ability to lead the transformation and upgrading of the enterprise. This is not only a test of the future development of the enterprise, but also a manifestation of family responsibility.
As for a few issues that everyone is concerned about: before Hu Jiajia**, the market performance of Metersbonwe was still good, but it was already weak; **Later, Hu Jiajia did take many reform measures, including trying online marketing, rebranding, etc.; As for the future development direction, Metersbonwe may pay more attention to the integration of online and offline, strengthen the interaction between the brand and young consumers, and continue to explore more effective management models and marketing strategies.