In China, the leisure apparel market’s “Zhejiang Three Giants” – Metersbonwe, Semir Apparel, and Peacebird, are currently facing operational difficulties. The combined net profit of these three enterprises in the first half of this year was only 413 million yuan (RMB), far behind leading sportswear companies. Recently, Metersbonwe’s founder, Zhou Chengjian, attracted over 200,000 viewers during a live broadcast where he danced to entertain the audience. However, these once “leisurewear giants” are struggling to overcome their downward trend of development.
Zhou Chengjian appeared in a black sunglasses, white jacket paired with navy blue sport pants, and sports shoes, dancing in front of the camera for an audience of over 200,000 viewers on TikTok’s “Tailor Zhou Chengjian” live stream. Since announcing the brand’s new retail 5.0 transformation in 2024, the 60-year-old Zhou Chengjian has been actively engaging on various social media platforms. In June this year, Zhou Chengjian released a video introducing LABUBU themed children’s clothing collection, aiming to appeal to a younger consumer group. However, the actual number of buyers seems to be limited, as Metersbonwe’s performance continues to decline significantly.
In the first half of 2025, Metersbonwe’s revenue plummeted by 45.23% to 227 million yuan compared to the same period last year; the net profit attributable to shareholders dropped from 76.78 million yuan to 9.93 million yuan, shrinking by 87%.
In a report by “Times Financial,” a visit was made to the three brands’ stores in Guangzhou on September 4. Among them, the Metersbonwe store at Yongtao Plaza in Chenjiaci Technology Park was the only remaining lifestyle experience store of the brand in Guangzhou. Despite its prime location near the subway and a large store area, it mainly attracted elderly customers or parents with young children during weekdays. “It’s difficult to do business offline, both online and offline channels rely on discounts to attract customers,” admitted the store staff.
Located on the negative first floor of Guangzhou Tower, the Semir store also witnessed sparse foot traffic during weekdays despite its location in a popular commercial area.
It’s not just Metersbonwe, the days are also tough for Semir Apparel and Peacebird, similarly hailing from Zhejiang. In the first half of this year, both Semir Apparel and Peacebird saw declines in their net profits.
Metersbonwe, Semir Apparel, and Peacebird were all founded in the 1990s in Zhejiang.
Zhou Chengjian started in the Wenzhou apparel market and experienced factory closures and massive debts in his early years. He quickly expanded his market reach, and Metersbonwe was listed on the Shenzhen Stock Exchange in 2008.
Founded by Qiu Guanghe and his son Qiu Jianqiang in Wenzhou, Semir Apparel drew inspiration from Metersbonwe’s “virtual management” model to establish a strong foothold with high-value leisurewear, and went public on the Shenzhen Stock Exchange in 2011.
Peacebird was founded by Zhang Jiangping from Ningbo. Initially a company specializing in leisure men’s clothing, Peacebird later introduced women’s wear, children’s wear, and teenage girl’s wear, diversifying its business operations. In 2017, Peacebird was listed on the Shanghai Stock Exchange.