Metersbonwe launched a three-year store remodeling program aimed at strengthening its market position against competition from international fast fashion brands. Its first upgrade, a flagship store in Chongqing, included many digital enhancements. In one example, called “Mix and Match,” customers scanned an article of clothing and received other wardrobe recommendations.
To help fund new initiatives, Metersbonwe sold a major stake in the company to China’s Chang’An Fund.
Meanwhile, China’s leading casual apparel brand continued trimming its extensive network of over 3,000 bricks and mortar stores, as it studied ways to effectively connect its offline and online businesses.
Net income fell 19 percent to $29 million on a 20 percent revenue decline to $481 million, in the first half of 2014. For the full year 2013, net income dropped 51 percent to $66 million on a 15 percent revenue decline to $1.3 billion. The company was listed on the Shenzhen Stock Exchange in 2008.