3.2 billion holes have been made in seven years, and the second generation of rich women has failed to take over! Lao Tzu is 59 years old and has to come back to wipe her ass. Who is so capable?
In 1995, Zhou Chengjian, a native of Lishui, Zhejiang, who had been doing business for 11 years, opened the first Metersbonwe store in Wenzhou and embarked on the road of brand chain management.
In 2003, Metersbonwe signed a heavy contract with Jay Chou, and Dong Chou said "not taking the usual path", which made this originally not outstanding brand quickly popular all over the country.
In 2005, Metersbonwe's revenue and profit were only 920 million and 7.34 million, and by 2011, the two indicators had soared to 9.95 billion and 1.21 billion, soaring 10.8 times and 165 times respectively.
During this period, it not only successfully landed on the A-share market and became the first garment stock in China, but also opened a five-story flagship store with an area of more than 7,000 square meters in Nanjing Road Pedestrian Street in Shanghai, turning into a banner among domestic independent casual clothing brands, with 5,220 stores at its peak.
After becoming famous, Zhou Chengjian embarked on a second-generation succession plan.
Hu Jiajia, born in 1986, is his eldest daughter, and in 2011, she just got a master's degree in fashion marketing from Istituto Marangoni in London and was arranged to join Meibang Apparel, and successively worked in the president's office, footwear development and operation department, brand marketing department and strategic development department.
In November 2016, Zhou Chengjian resigned as chairman and president, and Hu Jiajia took over the family's business.
There are some rich second generations who are really doing well, but Hu Jiajia is disappointing.
In the first year of her administration, there was a hole of 300 million yuan in Meibang clothing, and the total loss in the past 7 years was nearly 3.2 billion yuan.
The most embarrassing thing is that when the entire market is getting bigger and bigger, almost all of the brands under Meibang Apparel have no sense of existence. In the past few years, they have relied on selling and selling to make a living, and the most sold may be the shops bought in the early days, which earned 680 million in December last year alone.
Seeing that his hard work was made like this, Zhou Chengjian couldn't sit still. Recently, Hu Jiajia announced his resignation from many positions such as chairman and director after seven years and one month at the helm of Meibang Apparel, and only retained the status of president.
The outside world agreed that Zhou Chengjian would announce his return at the extraordinary general meeting of shareholders held on January 22.
The question is, will Lao Tzu's return to the helm of Meibang clothing achieve the revival of the empire? I don't think the answer is that simple.
Meibang clothing has been losing money for several years, which is not only related to Hu Jiajia's lack of ability, but also Zhou Chengjian himself.
Everyone knows that doing finance may be possible to do well just by looking at the data, but clothing belongs to the real economy and must sink down, and Hu Jiajia has only worked in the clothing industry for five years, and these five years are floating in the air, without any experience, Zhou Chengjian forcibly let her take over, isn't this deliberately creating an opportunity for losers?
What's more, many of the founding generation will choose to do it when the company is in good shape when they retire, but when Zhou Cheng established the baton, the former first stock of Chinese clothing was no longer good.
Due to the failure to seize the e-commerce dividend, after 2012, Meibang clothing fell more than once, and the year before Hu Jiajia took over, the revenue had fallen by 37% from the peak, and the profit had changed from a positive 1.21 billion to a negative 430 million.
In the year of the handover, although Zhou Chengjian turned losses into profits, he still deducted non-net profits as much as -520 million, digging a huge pit for his daughter, and the fact is that in 2017, Meibang clothing lost 300 million again.
Seven years ago, Zhou Chengjian failed to do a good job of Meibang clothing, and seven years later, he can create a miracle? I'm afraid few people believe it.
Judging from a series of trends, Zhou Chengjian's main direction this time is e-commerce, especially live broadcasting, and he has registered two entities and recruited some related talents.
However, not all people can play e-commerce live streaming, and he faces great challenges. There is not much time left for Meibang Apparel.
In the first three quarters of last year, the listed company only achieved less than 840 million in revenue, deducting a non-net loss of 96.11 million. As of the end of June 2023, the number of stores has fallen below 1,000, leaving only 26 directly operated stores and 899 franchised stores. Would you still be willing to pay for such a brand?#Social Variety##Stock Finance##新闻#