Metersbonwe is a brand that Jay Chou has endorsed for 13 years, it is once a top brand sought after by young people, but now it has long been forgotten by young people. Why does Meibang, which does not take the usual road, have "no way to go"?
Back then, Meibang was also extremely popular. In 1995, when the first Milbank store opened in Shanghai, Milbank covered the entire road with a red carpet to win attention like a foreign guest. What MeiBang wants is to be different, it has signed the Flower Band, Aaron Kwok, Jay Chou, Pan Weibai, Zhang Shaohan, almost whoever fires will please whom, the way of holding high, so that Benny Road at that time, Zhen Weiss lost his armor.
2008 Beijing Olympic Games, Meibang synchronous listing, and then in 2011 ushered in its own peak moment, a year of sales of nearly 10 billion, more than 5,000 stores nationwide, in the words of netizens, each city has a whole Metersbonwe. At that time, it became the leading boss of China's garment industry.
After the peak, it is the irreparable decline of Meibang. International brands such as Uniqlo and ZARA have entered the country, and online shopping giants have sprung up, making Milbank's life worse than a year. From 2012 to now, Smith Barney's market capitalization has evaporated by nearly 80%. And the people who once bought Milbank clothes, more than 80% abandoned it. Is the decline of The American State caused by not keeping up with the times and paddling too much?
No, on the road of transformation, Meibang can be said to be quite diligent, so why did it end up next time?
In 2008, when Meibang was listed, it was full of pride, but also more blind, the founder even believed that the design of clothes is not important, there is Zhou Dong endorsement, not afraid to sell, get the capital is important. It is no longer satisfied with being a big tailor, but focuses on the capital market, staggering with various big men.
When ZARA and Uniqlo were expanding wildly, when Ma Yun took a certain treasure to frantically enclose the land, it chose to build its own e-commerce platform Bangshou Network, which was against a certain treasure, so that Meibang stepped into a big pit. In 2015, The father and son of Meibang came together, and the son Bangwei personally operated the Fan APP, and at the same time, the title Qibao said that he tried to grasp the hearts of young people, but failed to take away a cloud. Within a few years, Youfan stopped operating, and the most exaggerated thing is that Milbank's inventory backlog is as high as 3.1 billion pieces, enough to send two clothes for every Chinese, which is contrary to fast fashion.
Since signing Aaron Kwok and Jay Chou, the post-80s consumers cultivated by Milbank have entered the workplace. After the 90s, the post-00s also rushed to the embrace of ZARA, Uniqlo and MUJI, and Meibang still did not change, the "campus style" of the Earth Hi design, the action of carving a boat and seeking a sword, so that Meibang suddenly became an "orphan".
2019 to 2020 Milbank, continuous losses of more than 800 million, if this year to report losses, Milbank will be marked on the ST delisting risk label, completely lost the capital market, in the face of market competition pressure and bleak sales, Metersbonwe is not thought of self-help, but is the continuous transformation of continuous failure, the real Weiss, to chun, Benny Road has long been obscured, Milbank will be next?
Benchmark ZARA's Metersbonwe, but only learned the skin of ZARA, Meibang believes that fast fashion is more than the size and number of stores, who has more stores, who can win market share, so in the pursuit of the number of stores on the road spare no effort. However, with more and more stores, it is more and more difficult to manage, and the inventory backlog is also getting bigger and bigger, in order to reduce inventory, Milbank must continue to discount and promote. But the more the price is reduced, the lower the brand image, the more it cannot be sold, the greater the discount is needed, and eventually it falls into a dead cycle, while the same clothes of other brands appear, different pricing, different discounts, the result can be imagined, AndBong lost thoroughly.
MeiBang began a variety of self-help methods, such as upgrading the brand to 5 sub-brands, using five popular xiaohuadan such as Guan Xiaotong and Ren Jialun as spokespersons, hoping to deduce 5 different fashion styles.
Rationality is very full, reality is very cruel, the company is still struggling to survive, replaced by a new brand without a background, coupled with multi-line combat of The United States, soon lost its armor. In just one year, Milbank closed 785 stores and owed $4.1 billion in debt.
The real reason for Milbank's failure over the years is that its clothing style is really embarrassing and uncompetitive at the same price. A clothing brand can't do a good job of clothing, that also makes a fart. If Douyin does not have a high-quality video, is it still called Douyin? If there are no massive goods in Taobao, is it still called Taobao? If there is no low-cost group, will anyone still love it? In the same way, without a soulless shell, it is doomed to survive the torrent of free markets
Metersbonwe, and do and cherish
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