Metersbonwe is a well-known Chinese local brand. Its advertising slogan of “not taking the usual path” is impressive. Jay Chou was also the spokesperson of the brand.
Picture source: Photo by reporter Zhang Xiaoqing
On June 28, Metersbonwe’s “female boss” was restricted from spending due to non-payment of rent, which was trending on Weibo. The consumption restriction order issued by the Shanghai Huangpu Court shows that Shanghai Metersbonwe Clothing Co., Ltd. (hereinafter referred to as “Meibang Clothing”) and chairman Hu Jiajia have been subject to consumption restriction measures. The judgment related to the consumption restriction order shows that in a previous house rental contract dispute case, the company failed to pay rent and liquidated damages, and had not fulfilled its payment obligations as of June 24, 2020.
Hu Jiajia, born in 1986, is the daughter of Zhou Chengjian, the founder of Meibang Apparel. In November 2016, Hu Jiajia took over the company.
On the evening of the 28th, Meibang Apparel responded to the media that the high consumption order had been lifted. As of the noon closing on the 29th, Meibang Apparel, which promptly responded to public concerns, fell 1.44%, with the latest market value of 5.18 billion yuan.
The reporter combed and found that public information showed that Hu Jiajia is the daughter of Zhou Chengjian, the founder of Meibang Apparel. Since November 2016, Hu Jiajia has taken over the company. However, Zhou Chengjian currently holds 49.13% of Meibang Apparel’s shares and is still the actual controller of the company.
Meibang Apparel’s financial report shows that since 2016, the company’s performance has continued to be sluggish and losses have often occurred. Especially in the past 2019, the company’s annual net loss reached 825 million yuan.
Image source: Metersbonwe official website
Metersbonwe “Female Palm” “Door” is restricted from consumption
Recently, the Shanghai Huangpu District People’s Court issued a consumption restriction order against Shanghai Metersbonwe Clothing Co., Ltd. In accordance with the consumption restriction order, the court filed a case on September 10, 2019, in which the applicants Lin Moukang and Mao Hong applied for the enforcement of the house rental contract of Meibang Clothing Company. Because Meibang Clothing Company failed to perform within the period specified in the execution notice In accordance with the payment obligations determined by effective legal documents, the court took consumption restriction measures against Meibang Apparel Company in accordance with relevant regulations.
It shows that Meibang Apparel and the company (legal representative, principal person in charge, person directly responsible for affecting debt performance, actual controller) Hu Jiajia “may not implement high consumption and illegal activities. “Consumption behaviors necessary for life and work”, such as choosing second-class or above cabins on airplanes, train soft berths, and ships when taking transportation, making high purchases in star-rated or above hotels, hotels, nightclubs, golf courses and other places, etc.
The judgment on the housing rental contract dispute related to the consumption restriction order shows that in February 2008, Meibang Apparel Company and Lin Moukang and Mao Mouhong disputed two properties on Nanjing East Road, Shanghai. Sign a lease contract for the shop. It is understood that this lease was coordinated by the government to rent out a large five-story store to Meibang Apparel. There are nearly 490 small owners like Lin Moukang and Mao Mohong. After the lease expires on March 31, 2017, Meibang Apparel hopes to renew the contract. However, the rights holders of the two shops, Lin Moukang and Mao Mouhong, made it clear that they would not renew the lease and filed a lawsuit in court.
The first-instance judgment of the Shanghai Huangpu Court stated that Meibang Apparel should move out of the relevant store with its personnel and belongings within 30 days from the date of the judgment; it should move out of the relevant store within 15 days from the date of the judgment. Pay 361,384.75 yuan in house usage fees for the two right holders’ shops from April 1, 2017 to March 31, 2019; and pay the two right holders within 15 days from the date when the judgment takes effect. The housing usage fee from the 1st to the actual move-out date (one store is calculated at a monthly standard of 36,397.90 yuan, and the other store is calculated at a monthly standard of 39,169.59 yuan); in addition, Meibang Apparel shall be subject to the judgment The two rights holders shall pay liquidated damages of RMB 75,567.49 within 15 days from the effective date.
After the first-instance verdict, Meibang Company appealed against the verdict. The Shanghai No. 2 Intermediate People’s Court ruled to “reject the appeal and uphold the original judgment.”
According to the consumption restriction order announced by the Shanghai Huangpu Court, as of June 24, 2020, the payment obligations in this dispute have not yet been fulfilled.
She has been at the helm of the company for nearly 4 years and is the daughter of the founder
Public information shows that casual clothing The brand Metersbonwe was founded in Wenzhou, Zhejiang in the 1990s. The company founder was Zhou Chengjian. In 2008, Meibang Clothing was listed on the Shenzhen Stock Exchange.
In November 2016, Metersbonwe Clothing announced that the company’s board of directors elected Hu Jiajia as chairman of Shanghai Metersbonwe Clothing Co., Ltd., and the founder and former chairman of the company Zhou Chengjian No longer holds a corporate position. According to disclosed information, Zhou Chengjian and Hu Jiajia are in a father-daughter relationship.
Hu Jiajia’s resume published in Meibang Apparel’s financial report shows that she was born in 1986, Chinese nationality, graduate degree, and graduated from Aston University Marketing in 2010.�Professional, obtained a master’s degree in fashion marketing from Istituto Marangoni in London in 2011. From 2011 to 2016, Hu Jiajia worked in the President’s Office, Metersbonwe Footwear Development and Operations Department, Brand Marketing Department, and Strategic Development Department at Metersbonwe Apparel. Currently, Hu Jiajia is the general manager, chairman and legal representative of Meibang Apparel.
It is worth noting that although Hu Jiajia has come to the forefront, her father Zhou Chengjian is still the actual controller of Meibang Apparel. Tianyancha data shows that Zhou Chengjian’s personal shareholding ratio in Meibang Apparel is 49.13%, and he is the ultimate beneficiary of Meibang Apparel.
Currently, Metersbonwe has five major brands. In addition to the most famous Metersbonwe, there are also ME&CITY, Moomoo, ME&CITY KIDS, CH’IN, etc. According to the official website of Meibang, the company currently has nearly 4,700 directly operated stores and franchised stores. With the rise of e-commerce trends, Meibang Clothing is also actively developing online business while opening offline stores.
Image source: Metersbonwe official website
Looking back at Hu Jia In the four years since Jia took over, the performance of Meibang Apparel Company has not been optimistic, and it has been losing money one after another. Meibang Apparel’s public annual report data shows that from 2016 to 2019, Meibang Apparel’s annual attributable net profits were 36.16 million yuan, -305 million yuan, 40.36 million yuan, and -825 million yuan respectively.
Affected by the new coronavirus epidemic, 2020 for Meibang Apparel seems to be equally difficult. According to the first quarter report of Meibang Apparel in 2020, the company achieved operating income of 921 million yuan, a year-on-year decrease of 46.7%; the net profit loss attributable to shareholders of the parent company was 219 million yuan, a year-on-year decrease of 671.67%. According to the announcement, the revenue decline was mainly due to the sharp decline in offline store customer flow caused by the COVID-19 epidemic and the decline in revenue. According to its prediction, “The negative impact of the current epidemic on the business of Meibang Apparel will continue.”</p
