From The Financial Statements Of Meibang Clothing, We Can See Its Market Share

At the beginning of the year, Zhou Chengjian, chairman of Meibang clothing, said in an interview with yingshang.com that in the future, it will focus on the development of mecity, metsbouray and moomoo, and will cover all levels of the market with three or five years.

Half a year later, with the "vision" at the beginning of the year, Meibang did not advance but retreated.

The most direct manifestation of this situation is the financial report data. According to the 2021 semi annual report released on the evening of August 25, the operating income of Meibang was 1.377 billion yuan, a year-on-year decrease of 14.06%, which was the lowest in the past decade; The net loss attributable to shareholders of listed companies was 38.93 million yuan, down 91.85% year on year. However, the net loss after deducting non recurring profit and loss was 336.2 million.

The main reason is that in the first half of the year, Meibang sold 100% of the shares of Shanghai Mogong Industrial Co., Ltd. and 10.10% of the shares of Huarui bank, which made the company cash flow back and appeared to narrow the loss situation. 　　

In terms of categories, the business income of men's and women's wear decreased in the first half of the year, of which, the revenue of men's wear was 764 million yuan, a decrease of 13% year-on-year; The revenue of women's wear reached 470 million yuan, a year-on-year decrease of 16.95%. In terms of brands, during the reporting period, as always, the revenue of the three brands was not announced.

So, under the overall situation, has Zhou Chengjian's "proud" channel layout worked?

By the end of the report period, there were 176 Direct stores and 1605 franchise stores in Meibang, with the total number of stores opened < the number of closed stores. According to the official explanation, the main closure is the franchise store, and it is the MetS Bonwe brand. In terms of single store average effect, the first half of 2021 < p = >

The average annual operating revenue of a single store is 2.377 million yuan, and the average annual flat efficiency is 7554.96 yuan per square meter per year. The average flat efficiency of a single store is even lower than that of the emerging brand bosie.

In addition, in terms of the layout of shopping centers, according to Yingshang big data, there are 447 shopping center stores under the brands of Meibang. Among them, the number of shopping center stores in mecity and metsbawi is relatively high, and moomoo is more cautious in opening stores. From the overall store opening and closing situation, in the first half of 2021, the overall opening strength of Meibang in shopping centers slowed down significantly, and the number of closed stores for three consecutive years was higher than that of new stores. 　　

The reduction of stores also led to the narrowing of Meibang's channel revenue. According to the semi annual report of 2021, the revenue of Meibang online channel is 375 million yuan, which is 157 million yuan less than last year; The revenue of offline Direct stores was 418 million yuan, 139 million yuan less than last year; The franchise store's revenue was 560 million yuan, an increase of 70.33 million yuan over last year, but the growth rate of gross profit rate was the lowest among the three channels, with an increase of 1.01%.

Of course, it is undeniable that in the first half of the year, Meibang has been working hard to solve the inventory problem. Through the promotion activities with greater discount intensity, the sales speed of products has been accelerated, and the gross profit rate has increased. However, by the end of the report period, the value of Meibang clothing inventory was still as high as 1.516 billion yuan, and the "inventory crisis" had not been effectively alleviated.

During the avalanche, no snowflake is innocent. Meibang's poor sustainable management is not achieved overnight, but from years of accumulation.

Zhou Chengjian once said that "Meibang has been constantly satisfying consumers, so that consumers can buy fashionable, comfortable and cost-effective clothing. This original intention will never change.". However, it seems that Meibang has not really grasped the needs of young consumers, which runs counter to the hot scene of domestic products: according to Alibaba data, more than half of consumers who buy new and sharp domestic brands are "post-95s". At the moment of China's economic recovery and market consumption recovery growth, Meibang has no "domestic" aura.