Metersbonwe – you heard it here first….(well 2nd if you live in China….)
However none of them were on the Millward Brown Optimor list of fastest growing global brands released recently whereas Metersbonwe were at number 10 just a couple slots below Apple.
Metersbonwe are a demonstration of Chinese power. With over 2,000 outlets and featuring in every town in China generating almost US$2BN they have an amazing foundation for global domination when they invade the rest of the world.
Unlike other brands in the rankings Metersbonwe’s performance is judged purely on China which shows the scale of their potential.
By adopting a western sounding name, spelling it in English and appearing to be European and thereby tapping into the market thatsees anything from the west as being aspirational and stylish there approach is seeing off rivals like H&M, Zara, Uniqlo and Gap in the market for trendy young things.
The “me too” approach though will need to change in non-Chinese markets where there will compete with the more established 15-25 year old brands and marketing dollars will need to be spent in positioning the brand in a more Asian way. Ironically their strapline is “Be Different” and they will need to grow that reputation if they are to succeed in the rest of the world as they have done in China.
Metersbonwe are the third largest apparel brand by sales in China behind Nike and Anta (a local sportswear brand) and sales are growing at 20% a year. Soon you too will be able to buy them, the Chinese brands are coming!