At the time of Smith Barbon's launch, the main competitors were Baleno, Jean-Wis, and Giordano—challenging brands to contend with. Despite the difficulties, the company gradually gained traction and performed well over the years. After its listing, it became a target for investors. However, the new competition is no longer limited to local brands; instead, it now aims at global fast fashion giants like H&M and ZARA.
This time, the sub-brand "Me&City," launched by Metersbonwe, faces an even greater challenge. The question remains: how far can Smith Barbon go?
**The Blank Market**
ZARA and H&M pioneered the fast fashion movement. According to An Jiezhiyang, founder of a marketing planning organization, fast fashion revolves around three key elements: quick delivery, affordable pricing, and timely response to trends. ZARA, for example, quickly imitates and integrates the latest international designs, often launching them in stores within just two weeks. This allows consumers to purchase similar styles to high-end brands like Giorgio Armani at significantly lower prices.
Fast fashion primarily targets consumers aged 25 to 35—those who have recently graduated from college, have limited income, but are eager to stay fashionable. Yet, domestic brands have not fully tapped into this market.
Industry insiders suggest that while Chinese apparel brands focus on younger demographics (ages 16–22) or older adults (over 40), there’s a gap in the 25–35 age group. These individuals are entering the workforce, and their demand for professional yet stylish attire is still underdeveloped. Capturing this segment could be a strategic move for brands like Smith Barbon.
An Jie believes that shifting toward fast fashion is a natural progression. As the original Metersbonwe brand targets teenagers, its future customers will grow older and seek more mature, fashion-forward options. Me&City should aim to meet this evolving demand with more trendy and design-focused products.
**Chasing ZARA and H&M**
Smith Barbon is now actively competing with ZARA and H&M. The “Me&City†brand can produce and deliver items to store shelves in as little as 20 to 30 days. It has a design team of 50–60 members, including designers from mainland China, Taiwan, South Korea, and Japan, who create 4,000–5,000 models annually.
In terms of pricing, 80% of Me&City’s products fall between 79 and 799 yuan. The brand also follows the same retail strategy as H&M and ZARA, opening large stores—some exceeding 1,000 square meters. In fact, the flagship store on Nanjing East Road spans over 3,000 square meters. As of October 2009, Me&City had opened 68 direct-operated stores nationwide, mostly in major cities.
However, unlike H&M and ZARA, which focus on first-tier cities, Me&City has expanded into second- and third-tier cities like Baise in Guangxi. Industry analysts note that these cities have strong purchasing power, and many domestic brands have successfully captured this market. Me&City aims to replicate this model and prepare for a franchise expansion in the next one to two years.
**Half the Profit of the Store**
Currently, Me&City generates about 400 million yuan in annual sales. Its goal is to reach half of Metersbonwe’s current annual turnover in three years, which would mean hitting 2 billion yuan. While ambitious, the biggest challenge lies in talent acquisition.
The brand division now has over 100 employees, but it still struggles to find enough skilled professionals. With only 15 years of brand development experience, the industry lacks sufficient expertise, leading to fierce competition for top talent.
Despite rapid expansion—opening over 60 stores in a year—only about half are profitable. The store failure rate is higher than the industry average (around 20% vs. 12%). Delays in store openings and missed sales windows contribute to this issue.
An Jie highlights that rent is another major concern. With most stores located in prime commercial areas, rental costs are 3–4 times higher than average, making it a significant portion of operational expenses.
According to Smith Barbon’s 2009 third-quarter report, the net profit attributable to shareholders dropped by up to 30% due to heavy investments in the Me&City brand. Still, the company remains committed to its long-term vision in the fast fashion market.
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