How Is MCM, The World'S Most Popular German Luxury Brand?

Germany's light luxury brand in the world since 2014.

How are you doing?

According to the world clothing and shoe net, the US website recently revealed to MCM chairman and chief prospect officer and South Korean entrepreneur Kim Zhu Zhu that the sales volume of MCM in 2016 was 700 million US dollars and is expected to grow to US $1 billion in 2020. It is worth mentioning that this goal is a discount to the goal of increasing sales to 2 billion dollars in five years in 2015. At that time, Jin Shengzhu estimated that the sales volume of 2016 will increase 20% than that of 2015, but it is actually only flat.

(see historical report: MCM sales increased 15% in 2015, and planned to reach US $five in five years).

Although the momentum of rapid growth has slowed down, Jin Shengzhu has led the troubled German minority.

There are still many things to learn and learn from the success of the global stage.

Escaping from the patriarchal society

South Korea is still a male dominated conservative society. Women do not have to be able to do well. Just go to a decent University and get married and have children. In general, Jin Shengzhu should be ready to marry after graduation.

But she chose a completely different path. She said, "my life is up to me."

In 1979, Jin Shengzhu came to the United States to study in Amherst College.

"I know my family will arrange a marriage for me, but I don't want to follow it, so I came to the United States," she said.

Jin Shengzhu said: "in Amherst, feminism has left a deep impact on me, and it has shocked my original ideas, and I have benefited a lot."

After graduating from the London School of economics, Jin Shengzhu decided to move to Boston before finding jobs in the United Nations and South Korea. But later, because she violated her parents' wishes, she was engaged privately, and her family broke off financial dealings with her.

The financial crisis prompted Jin Shengzhu to be badly in need of a job. One of her friends contacted her for the lead in the high-end department store in the United States.

Department store Bloomingdale 's CEO's Marvin Traub, which allowed her to participate in her company's training program, and at the same time, she worked for Korea's import business project manager position.

Jin Shengzhu became one of Traub's favorite students. The close relationship between the two gave Jin Shengzhu a lot of benefits: "when I told people in the industry that I was born under the Traub gate, many things could be solved."

Back to Korea, create your own business.

After working for Bloomingdale and s for three and a half years, Jin Shengzhu returned to Korea in 1989 and gave birth to her daughter.

Then she became the authorized dealer of Gucci in Korea and brought Gucci to Asia's booming luxury market.

For the first time she went to Florence Gucci, she purchased $500 million.

Jin Shengzhu recalled the decision at that time: "when I visited the company, the Gucci exhibition hall was even messy, when Gucci was in a very bad stage.

But I think of what I learned from Marvin Traub, that no matter how bad the brand is, as long as I know how to manage and repackage, I will be successful, at least Gucci is still very well known.

A year later, when De Sole joined Gucci as CEO, Jin Shengzhu was a member of the Gucci Executive Committee. The committee made a decision to choose Tom Ford to be the new creative director. Since then, the Italy veteran has ushered in a new era of glory.

In 1998, Jin Shengzhu sold the right to operate the Korean market to Gucci company, and the exact amount was not announced.

Since 1992, Jin Shengzhu has become a South Korean franchisee of MCM. At that time, the performance of the brand was acceptable, but the management of MCM parent company was chaotic after 90 years.

Revive MCM

Jin Shengzhu said, "I knocked on the door of MCM owners in 2004 and told them I had two plans, either to get away from MCM or to take over MCM, and in 2005 we bought all of MCM's stake."

Jin Shengzhu said: "for us, engineering, R & D and hardware development is very important. As a German brand, we attach great importance to the German mentality and Bauhaus style and function, which is totally different from the French and other design companies."

Jin Shengzhu added: "compared with the famous luxury brands, I prefer the idea of Miuccia Prada about women, which is a big market at present."

She also said that studying the market performance of Kate Spade and other emerging luxury brands will help promote the development of MCM.

Two years ago, the sales volume of US regional business has exceeded $100 million, and Neiman Marcus is the best seller in all channels.

Globally, MCM has more than 500 stores in more than 40 countries.

MCM plans to expand in Japan through cooperation with Isetan Mitsukoshi (San Yue Yi Dan), and its flagship store in Shinjuku Shinjuku will be officially opened this year.

Multifunctional nylon products will also be launched in the spring, and more styles and colors will be introduced in the autumn of 2017.

Jin Shengzhu said: "there is a difference between quantity growth and quality growth, and I prefer quality growth."

Because of this, MCM will restrict the development of retail business in the United States in the coming year and prevent over saturation.

"We have 150 sales outlets in the United States, including 10's own direct stores, which will increase 4 stores next year (including Canada)," said Patrick Valeo, President of the US branch.

Now the entertainment of shops has become very important. Jin Shengzhu said, "after seeing the great success of Pokemon Go, I realized that the millennials wanted to like something interesting. They are not so loyal as they used to be, and retail stores need to be entertainment centers in the future."

Jin Shengzhu said that MCM is still developing. It hopes to divide the business into three different parts. The first part is made up of many best-selling products. The second part is some seasonal and fashionable products. The third part is not ready yet, mainly some capsule products.

In 2017, the existing business will be consolidated and some preparations for the capsule series will be launched in 2018.

Jin Shengzhu has been devoted to charity. She is a staunch supporter of the women's empowerment program (a treatise and report on this topic), and will participate in the Organizing Committee of the 2017 global women's summit in Tokyo in from May 11th to 13th.

More interesting reports, please pay attention to the world clothing shoes and hats net.