Zhou Chengjian: I became a risk-conscious person on the third anniversary of the listing of Smith Bark

On the third anniversary of the listing of M.B. apparel, the 900 million shares owned by the father and daughter Zhou Chengjian will be released for circulation. According to the share price of 32.67 yuan per share on August 29, Smith & Johnson built a father and daughter with a wealth of approximately 29 billion yuan. After completing the listing, Zhou Chengjian, Chairman of Shanghai Metersbonwe Fashion Co., Ltd., who is wealthy, commented that he had changed. He said, “Although I can now use more than 10 billion assets, I am more cautious than before the listing. It turned out to be a purely opportunist and is now a risk conscious person."

Metersbonwe listed on August 29th, the third anniversary of the listing of M.B. apparel, and 900 million shares owned by Zhou Chengjian and his daughter will be released for sale. According to the stock price of 32.67 yuan per share on August 29th, US stocks, Zhou Chengjian The father and daughter have about 29 billion yuan in wealth.

After completing the listing, Zhou Chengjian, Chairman of Shanghai Metersbonwe Fashion Co., Ltd., who is wealthy, commented that he had changed. He said, “Although I can now use more than 10 billion assets, I am more cautious than before the listing. It turned out to be a purely opportunist and is now a risk conscious person."

Me&City took the detour The headquarters of Meibang Garments located at 800 Kangqiao East Road in Shanghai was divided into two parts, north and south, by a road. Although the bridges were connected, the two parts of the north and south showed some distinctive characteristics.

Zhou Chengjian’s office is located in the North District of Mimpron’s headquarters. At the same time, there are also departments in the design and sales of Metersbonwe and Me&City brands that support the performance of the current US fashion apparel.

The Southern District is an innovative experimental field for M.B.M.'s clothing. Before planting various kinds of vegetables on open fields, cotton that grows white flowers now surrounds the buildings. A building is the online shopping platform of Bang-Bang clothing and the other is the building. It will display the new products of the upcoming footwear brand "Mei".

"Bangkang.com" and "Xiang.com" are the new performance growth points of Meibang's high hopes. Zhou Chengjian's ambition is not small. He planned that by 2020, the annual revenue of the "State purchasing network" will reach 100 billion yuan. *** .

However, his ambition was carefully protected. Zhou Chengjian chose deliberately low-key. As an embodiment of low-key, in August this year, Zhou Chengjian rejected for the third time a large-scale promotion of the "state purchase network" proposal. Prior to this, the "state purchase network" has been operating for about 1 year, the highest daily sales. Breaking through 1 million yuan, Zhou Chengjian's explanation is that before he succeeds, he should not make loud noises and draw lessons from Me&City.

In 2008, on the day of the listing of Shenzhen Meibang Fashion Co., Ltd., Memphis Fashion, the protagonist of “Prison Break”, opened the Me&City store as a spokesperson. The promotion of this brand was very impressive and indeed short-lived. Time has attracted a lot of eyeballs.

Three years ago, Zhou Chengjian really fascinated Me&City. He thinks that he can get a big cup of buzz among fast fashion brands because the Metersbonwe brand has been deeply rooted in the consumer groups mainly composed of middle school students and college students, but the urban office worker has graduated from college. Among the white-collar consumer groups, transnational fast fashion brands ZARA, H&M, etc. are popular in the Chinese market, local clothing brands are rare, and Mido apparel understands the Chinese market and has precisely the potential consumers of fast fashion brands.

At the beginning of its establishment, Mebon hoped that Me&City’s sales would reach RMB 2 billion in 2009. Actually, in 2009, Me&City’s revenue was only RMB 350 million; in 2010, Me&City’s sales were RMB 690 million. Far below the target of 2 billion, Me&City is still not profitable, and achieving Me&City’s breakeven is one of the most important goals for Zhou Chengjian this year.

Three years later, Zhou Chengjian was wearing a Me&City shirt and appeared in front of the media. Although he was rather overwhelmed by the words, he admits that Me&City was on a detour. The root cause was “no awe and not enough risk awareness”.

The executives of a listed company in the clothing industry analyzed the brand extension of similar clothing like Smith Barney: “A new brand makes money in a year. This is impossible. It is generally a one-year loss, a two-year flat, and a three-year win. This is especially true if the extended new brand is completely different from the main brand style."

Zhou Chengjian concluded in this connection: “To analyze Me&City today, it was not the first time to go to large-scale shops, and the second is not to expect to become a few billion overnight, that is, to pursue one million to two billion in 2008, and three in 2009. Billion to four hundred million, in 2010, pursuing five to six billion, and in 2011 pursuing between seven and eight billion, this is relatively safe; but in 2009 it will be 20 billion, and this investment will be very large. Facts At the time, it was not done, but the cost was there and the benefits did not reach. The root cause of this problem was that there was not enough risk awareness."

The risk consciousness was again August, and Zhou Chengjian started the new brand “祺” after acknowledging Me&City’s mistakes.

The predecessor of the embarrassment was "Zege," a clothing brand that registered in 2001 and achieved a balance between revenue and expenditure in 2003. On the eve of the listing, Zhou Chengjian stated that under the advice of experts, Meibang Garments stopped the operation of "Qiange" and will use resources. Mainly on Metersbonwe and Me&City two main brands, Zhou Chengjian regrets this move. He said: "Me&City's operation did not seek expert advice, leading to blind innovation in some places; but "Qiang" The momentum of development has been good. After listening to the opinions of experts, a good opportunity has been wasted. The opinions of experts cannot be believed in wholeheartedly, nor can they disbelieve."

After learning lessons from Me&City, Zhou Cheng established a strategy to operate the new brand “Hey”. He said: “I wouldn’t do it like Me&City, and “hey” will be very low-key and will be well-accepted to the market. This is called Safe, you can make money soon."

Zhou Chengjian said that the move to the market can be seen from the price point, "sports" to shoes, the sample price of 100 to 300 yuan more, compared with Me&City when the new market is more than 400 to 500 yuan, to be much closer to the people.

Zhou Chengjian summed up his own changes: “From the pure opportunist now to a strong risk consciousnesser, this is a great change and habit in my recent years. I think there will be a very good growth point for this kind of continuation. Effective development."

He said that he and his team have become increasingly aware of risk. In the past decade or so, there was a lack of control over risks, or even no word of “risk,” but in recent years, he thought about the total risk. It is more than an opportunity to think. “To do any one thing has to be 360-degree thinking. Doing any innovation is a good opportunity from an innovation point of view. However, if this opportunity is captured, it will affect other things. You must understand it."

This deep understanding of risk has enabled Zhou Chengjian to conduct more in-depth analysis of every aspect of company operations than ever before. For example, approximately 10 years ago, Mebon clothing also relied mainly on franchisees to open franchisees to achieve sales channels. The expansion, but when a large number of franchisees at the same time to the bargaining bargaining at the Smith Barney headquarters to discuss the goods discount, Zhou Chengjian realized that he may be abducted by the franchisee, so he would not hesitate to open the self-operated shop at a price 5 times higher than the franchise, strengthen the Control of sales channels. As a brand merchant, it also acts as a retailer. Although it faces risks during the initial stage of reform, it is ultimately a good control of risks.