Every guest "cottage" Millet road aging attrition 10,000 restart business

July 22, 2014, Millet Annual Conference, the National Convention Center crowd bustling. Activities are about to start, where the CEO aged and assistant from the elevator mouth out, stood for a while. Many of the young "rice noodles" with invitations were quickly passing by, and the aged eyes were falling on them.

That day, Lei on stage wearing "every guest three sets" released Millet 4, aged invited to sit under the stage.

One months later, every guest "a white shirt" press conference, aged boarded the podium, his first words are: "Hello, long time no see." I am very nervous that every guest has not opened an external conference for more than a year. ”

Next, he repeatedly "admit mistakes", put himself very low.

To join the majority of the old, the old users, investors, and although the choice to leave but also nostalgic former employees. Everyone cares about the status of every guest and aged himself.

2007, where customers started with men's shirts, by virtue of brand marketing and cost-effective products, once created the Internet brand growth myth. Or a shirt, 7 years later, where the guests back on the road. But this time, the domestic electric business is less than a big boss, more than a humble entrepreneur.

"Every customer is a business start-up, where the starting point of the customer is a cost-effective brand." This year seriously look at brand distribution, found that the Chinese clothing brand rout, because we do not grasp the quality. The whole net sells the clothing all is the rubbish, some people is proud to sell the rubbish, to the sale and the stock is proud, the user does not need the rubbish. ”

"Look back at the product, marketing team, found that a lot of people are useless." But it's not the employee's fault, it's my fault. It was wrong to advertise and do a lot of marketing events. ”

"Every guest has done a mass of slimming action, the process is very painful." From the peak period of more than 13,000 people, become 500, 600 people, SKU from 190,000 to the current all new product planning, including 200, 300. ”

Aged "Re" selling shirts

The day of the Conference, a person standing on the platform is very excited, speech content, from cotton to the hot-free process, to the Japanese designers, and even the history of shirts. One hours down--but it doesn't matter how much the audience listens to--it's just one sentence: I know my shirts.

Where the customer prudential products in 2007, aged to the garment industry is still unclear.

He has been a journalist, and then pen business, doing excellent network executive Vice president and Lei work together, founder I have a network, published a book called "Return" autobiographical novel.

Then, the "layman" broke into the clothing brand electric market, in the popular, where customers no longer satisfied with only selling shirts, began to expand the category of goods-they even sell mop.

Executives, including old age, once felt that everyone was buying what they did and how they did it. A former employee recalls.

"Old is a Fool"

Until last August, aged 40 yards of Van Gogh shoes all under a single buy, a try to cross. "Pinch foot, press foot, beat foot, smelly foot, big bottom thin, big bottom slippery, big bottom hard ... The shoes of that place, if can speak, must say: Old you are a big fool. He wrote in a long microblog.

Thus, more than a year of time, aging into a personal "silent period" very little voice, only through micro-blog to maintain exchanges. Now his microblog is like a "billboard", only talking about factories and products around, or interacting with users, talking about novels and talking about movies that are completely gone.

August 28, Aging ended the "silent period." Want to "make a little bit of good bye everyone," the fan team, with "a white shirt" comeback. The conference venue is located in the 798 Art District D-park, millet customary venues.

Many people have reflected that, once in, will feel strayed into the millet. Conference site layout, flow, PPT, etc. in the "cottage" millet.

"The board, represented by Lei, has driven the change of the last year. "Aged in public to express gratitude, last August 29, Lei to see the product, said," So many categories, it is clear that not focus, not out of control to blame. Lei suggested, "Can we do a shirt first?" ”

"Millet transformation", where the guest with a conference specification to recommend a single product, a free ironing shirt.

The reason for a product is to hold a formal conference, aging is to declare: every guest back. "Some people ask, age is not hiding?" He joked in his speech that he should come out of the factory and see more people.

Every guest "attrition" exceed 10,000

Three or four years ago, every guest was in the ascendant. The old "arrogant" words and deeds were recorded by intensive media reports-"I hope to buy the LV in the future, and then sell the same as the price of every customer, I would also like to buy the marina, canvas shoes on the sale of 50 pieces, which I would like to see the results. ”

At that time, although as a gossip joke, ambition can be seen.

According to media reports, in 2008 and 2009, the compound growth rate was 150%, compared with 300% in 2010. At the end of 2010, Aging said that the 2011-year "Sales growth rate" set to 100%, to reach 4 billion yuan;

At the beginning of 2011, aged confidently claimed to have reached 10 billion sales. These figures have become part of the castles he built.

In shouting out "10 billion sales", where the customer thoroughly "out of control", sold the ashtray, mop and rice cooker, and soon ushered in the "Great Leap Forward" of the consequences, layoffs, suppliers door-to-door, capital chain break and other negative news winding.

"Look back at the product, marketing team, found that a lot of people are useless." But it's not the employee's fault, it's my fault. "After the old press conference on some of the media seriously rethink," product so much how to do it? How could it be done? ”

For the first time, he disclosed the madness of "downsizing" in every guest makeover: from the peak period of more than 13,000 people, into 500, 600 people, SKU (inventory unit) from 190,000 to the current all new product planning, including 200, 300.

"If you do not make good products, you will be struck by thunder." "Aged. This is not his first reflection, but the most thorough one. "Mistake" again and again, put yourself very low very low, low to dust.

The most daunting thing about aging is the loss of users. In the first quarter of 2014, in the world of Analysys International Chinese consumer online retail trade share rankings, where the customer market share of only 0.7%, ranked 12th.

Aged said, the shirt price of 129 yuan, light cost accounted for more than 100 yuan. Is the hope to be very cost-effective products to give users an account, "to save the hearts of users." ”

However, from the white shirt released this time, the guests seem to have no way to make any money. Do not make money, where the customer depends on what way to go down? "The specific profit model has not yet figured out, do it first." "he said.

In the media interview, aging did not mention the outside of the product planning, goals, no sales figures and business growth forecasts.

Avoid talking about the "dull pain" of IPO

Every guest is not the past that "star" every guest, it removed "sincere goods" two words changed a new name. Also bought a high price domain name fanke.com. Aging admits that today's visitors are actually a start-up company.

"Since August, all kinds of rumors, especially in April, about my car was smashed, about my office was blocked, about someone to the van jumped, all kinds of statements have." Today I want to say is: Today I stand here, let bygones be bygones! The aged finally announced loudly on the podium.

Let the past all past, or need to have a good ending, more people are expected to be listed bells. The notoriety of Liu's "kidnapping" of investors was dissipated after the IPO, even though it had previously raised more than $2 billion trillion in financing.

When asked whether the customer will be the future of the IPO as a development goal, aging will be the topic elsewhere.

He was keen to talk about it. The initial IPO was scheduled for 2012, and the IPO plan was scheduled to start one year to 2011 ahead of schedule, and the plan to list in the US was indefinitely stranded because of poor market conditions. Then the electrical business of the cold winter, coupled with radical wrong decision, where the customer is down.

Old friend lei a blood transfusion for every guest.

"In fact, a lot of people in the heart probably want to fall out, because the plot of ups and downs, the most attractive." Aged in an interview to laugh at himself.

So far, all the guests have received seven rounds of financing. The former six from the joint venture source and IDG, SoftBank, Tiger fund, Temasek and Kerry Group, a total of about 422 million U.S. dollars.

This February, every guest in the life-or-death in the Life-and-death of old colleagues, old friend Lei received the seventh round of "blood transfusion." IDG, joint venture sources and other shareholders are involved in this round of investment, the amount of more than 100 million U.S. dollars. At this point, a total of 522 million dollars to obtain financing.

The second round of the Investment fund to enter every customer, the Beijing News reporter said, and domestic funds 3, 4 years "time limit" is different, foreign investment fund period is longer, compared to "affordable."

And the above people said that from the domestic clothing market status judgments, where the customer still have the opportunity.

"This year the Chinese clothing brand in full rout, because we have no grasp of quality." "Old said," the whole network of clothing is rubbish, some people to sell rubbish for proud, to buy and sale inventory is proud, users do not need garbage. ”

From the extended category to only push a new product, aging changed. He became cautious, because 7 years of the guests have been forbidden to toss. He also had to choose to change, put down the "big guy" baggage to regain his business, as his old partner Lei did.