Metersbonwe used to be popular all over the country, but with the passage of time, traditional brand strategies and design concepts can no longer meet the needs of modern consumers. Hu Jiajia, as the eldest daughter of founder Zhou Chengjian, bravely took on the responsibility of revitalizing the company in the face of the dilemma of the family business.
First, the crisis of the rich second generation and Metersbonwe
The rich second generation takes over the business: Hu Jiajia, as the rich second generation, has received a good education since he was a child and has rich business experience and management ability. Her experience at Metersbonwe, from the grassroots to the management, has been a brick and brick for the family business.
The dilemma of the family business: After Zhou Chengjian was involved in the case of fellow villager Xu Xiang, Metersbonwe was in trouble. The eldest son has no interest in business management, and the younger son is too young to take over the company. The only one who has the conditions and ability to take over the company is Hu Jiajia.
Challenges for traditional brands in the new era: In the new market environment, Metersbonwe's traditional brand strategy and design concept can no longer meet the needs of modern consumers. The rise of fast fashion brands, such as Uniqlo and Zara, has put traditional brands under tremendous competitive pressure. At the same time, the changes in pop culture have also brought great challenges to Metersbonwe.
3. Solutions and dilemmas
Rebuilding the new product team: Hu Jiajia realized that in order to regain competitiveness, we must first improve the logic of producing new products, establish a flexible ** chain, test the market reaction with a small number of new products but many styles, screen out the most popular popular models, and then copy them in large quantities. However, due to the slow data feedback of the offline store model, it is difficult to provide data support for the screening of popular models.
Debt problem: Since the clothes could not be sold, Metersbonwe had to sell the house to pay off the debt. Hu Jiajia needed to find a way to improve the situation, but the process was fraught with difficulties and challenges.
IV. Conclusions
In the new market environment, the rich second generation Hu Jiajia is facing huge pressure and difficulties. Despite her efforts, she was unable to reverse the tragic outcome due to the challenges of traditional brands in the new era and the lack of sufficient market data to support them. Therefore, in order to meet this challenge, more innovative thinking and flexible strategies are needed to adapt to this rapidly changing market environment. At the same time, more attention and support are needed to help the rich second generation like Hu Jiajia successfully transform into a new generation of entrepreneurs.
5. Suggestions and future prospects
Reform and innovation: Metersbonwe needs to reform and innovate, establish a flexible chain, test the market reaction with a small number of new products with many styles, screen out the most popular popular models and copy them in large quantities. At the same time, it is necessary to pay attention to the changes in trend culture and adjust the design ideas in time.
Data-driven decision-making: In order to provide data support for the screening of popular products, it is necessary to collect sufficient market data. It is only through data feedback and analysis that we can better understand consumer needs and preferences to make more informed decisions.
Support and assistance: For wealthy second-generation entrepreneurs like Hu Jiajia, they face greater challenges than the average entrepreneur. Therefore, there should be more support and assistance from society to help them successfully transform into a new generation of entrepreneurs.