Text/Editor: Xia Youfeng
"Metersbonwe, off the beaten path"
When you hear this advertising slogan, you will definitely think of the Metersbonwe brand that once swept the country. But just recently, Metersbonwe suddenly appeared on the hot search, and the reason was even more surprising.
As the daughter of the founder and the chairman of the board of directors, Hu Jiajia resigned, seemingly to let Xian abdicate, but it was revealed that he was guilty of resignation!
It wasn't until there were more and more relevant revelations that people discovered that there was an unknown secret behind the resignation!
The information in this article comes from Phoenix.com and Weibo, for the sake of reading, the details of the article may be polished, please watch it sensibly.
Metersbonwe went from glory to decline, and the second generation took over as the biggest turning point
In 1995, Metersbonwe established the group with the efforts of Zhou Chengjian, and the entrepreneurial concept is to focus on sports and casual clothing.
And adhering to the national brand plot, Metersbonwe has taken the patriotic line from the beginning.
Facts have proved that Zhou Chengjian's idea is very advanced, and when the industry was just developing, Metersbonwe took advantage of the limelight and took advantage of the trend.
As one of the first people to eat cake, Metersbonwe has undoubtedly become a rising star in the apparel industry, and Zhou Chengjian is not idle, but continues to invite major stars to endorse.
The star effect has also become a weapon for Metersbonwe, until 2006, Metersbonwe achieved an all-round turnover of more than 4 billion, and the number of offline stores reached 1,800.
The proud achievements made Metersbonwe become the leader of the domestic apparel industry at that time, and as a leading industry, Metersbonwe seems to have a bright future.
But in the business world, there has always been an undercurrent, and if you are not careful, you will capsize and sink into the water.
Zhou Chengjian still did not stop the pace of progress, in 2008, Metersbonwe was successfully listed, which is Zhou Chengjian's confident step, but he would not have thought that the future road is so difficult.
At that time, Metersbonwe was in the limelight, but with the emergence of competitors who are also domestic clothing brands such as Anta Li Ning, the market pattern has gradually changed.
Then Metersbonwe began to change its thinking, wanting to turn to the high-end market, trying to go against other brands.
But the idea is good, the reality is skinny.
In 2012, Metersbonwe ranked 19th on the Hurun list with a brand value of 7.8 billion yuan, but it never thought that this was the last glory.
After that, Metersbonwe was in a very embarrassing position, with a lower brand effect at the high-end than others, and a price war at the low-end.
It took four years for this downhill to go down until 2016, when Metersbonwe ushered in a huge change.
Zhou Chengjian abdicated, and his daughter Hu Jiajia took over the group.
But Metersbonwe, who was taken over by such a young man, not only lost more and more money after a few years, but also made Hu Jiajia take the blame and resign, what is going on?
With a loss of more than 3 billion yuan in seven years, resignation is the last dignity
In the first year after Hu Jiajia took over Metersbonwe, there was a tragic situation of profit and loss for the whole year, and due to the wrong development strategy, Metersbonwe seemed to be in trouble.
As a leader, Hu Jiajia should immediately change the current direction of development and change his thinking.
However, Hu Jiajia was worried that changing the strategy at will make Metersbonwe's situation more serious, so she chose a conservative strategy, constantly reducing the industries under her name, and retreating into advance.
But how can this kind of self-cutting method save Metersbonwe from fire and water, and let it develop, it is just a slow death.
It turned out that Hu Jiajia's decision was wrong, and since 2017, Metersbonwe has been in a state of huge losses, with declining turnover and making ends meet.
Until 2023, Metersbonwe has accumulated a total loss of more than 300 billion yuan, almost half of Metersbonwe!
No one expected that Zhou Chengjian's successful stop loss before his abdication became a return to the light before death.
Metersbonwe's industrial system is shrinking rapidly, and the management is panicking, and it is too late to change it at this point.
Today's domestic sportswear market has long been carved up, and if Metersbonwe wants to come back and occupy a place, it will have to bleed and pay an expensive tuition.
But just when Metersbonwe was facing a crisis, what was Hu Jiajia doing?
Hu Jiajia faced such a situation, and the measure he made was to abandon the car and protect the handsome. Continuously close offline stores, reduce capital output, and maintain cash flow as quickly as possible.
It also chose to continue to sell offline flagship stores in exchange for capital subsidies to the group, and even the clothing museum, which was once a symbol of the spirit of Metersbonwe, was sold!
Hu Jiajia's emergency measures did bring 680 million yuan of funds to Metersbonwe, but in the face of long-term losses, it was just a drink to quench his thirst.
As the chairman, Hu Jiajia has fun every day, has no sense of crisis at all, and even lingers in luxury stores.
Even in 20 years, Hu Jiajia was sentenced to dishonesty and restriction of high consumption because of disputes in his stores, which is too outrageous for a person who speaks for a 10 billion group?
Although Metersbonwe issued a notice to explain as soon as possible, Hu Jiajia also unlocked the state of dishonesty within four days, but this has become a stain.
Hu Jiajia, who has an impeccable educational background, is really incomprehensible in such a failed situation. Until 2024, at the beginning of the new year, Metersbonwe was exposed to an asset-liability ratio of 90.09%.
Hu Jiajia couldn't bear the pressure and finally took the blame and resigned. She was also unveiled the last fig leaf when she was a vegetarian meal, showing her unbearable side to the public.
Now Metersbonwe is already in a dire situation, the industrial liquidity has basically dried up, and the cash flow is not even more than 100 million when it is the lowest, and there is only 86 million on the account!
Once it was once beautiful, where should it go?
If the founder returns, can he turn the tide and support the building?
With Hu Jiajia's resignation, the position of the next chairman has begun to become confusing, who wants to take over this mess?
It is worth mentioning that founder Zhou Chengjian was also added to the list of candidates for non-independent chairman.
This also means that Zhou Chengjian has the opportunity to take charge of Metersbonwe again, but this time is different.
Although Zhou Chengjian single-handedly pushed Metersbonwe to glory, but in the face of the crowd of several major sports brand giants, can he still successfully break through?
That's all for later, and no one will know what the future holds for Metersbonwe.
But once fate was also in their hands, and if they missed the opportunity, they had to bear the consequences!
epilogue
Metersbonwe went from glory to downfall, the process is really embarrassing, but the empire built by Zhou Chengjian himself is precarious, and even his heart may be infinitely sad.
However, Metersbonwe is a former national brand after all, and I hope they can get through this difficulty and make persistent efforts!
Resources
Weibo Dishonesty Notice: https://weibo.com/1784473157/J8IJFn3Lk
Phoenix.com Articles:
https://ishare.ifeng.com/c/s/v0040qppgLqwMIogCxxoGAFsnpvO6vhuiAHNEv7Fngxc9gM__?from=ucms_web