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Why MASA MASO wants to lock in the high-end menswear market?
MASA MASO stands out as an exception among e-commerce clothing platforms. Unlike most other popular e-commerce sites, MASA MASO didn’t originate in the digital world. Its founder, Mr. Sun Hong, is from a traditional menswear background with over a decade of experience in the industry. Sun Hong's shift towards e-commerce came after studying a science and technology report during his EMBA program at China Europe International Business School. This report convinced him of the potential and practicality of integrating e-commerce into the traditional clothing sector.
The decision to enter the e-commerce space proved to be a pivotal move for Sun Hong and his partners. Traditional menswear has long faced challenges such as rising costs leading to high retail prices, making domestic brands less competitive compared to international ones. PPG's success showed a new path forward, leveraging online channels to reach customers more efficiently and affordably. Inspired by this, Sun Hong and his team launched MASA MASO, aiming to combine the efficiency of e-commerce with the quality and values of traditional menswear.
Initially, MASA MASO faced numerous obstacles. Starting in June 2008 and officially launching in September, the company had to contend with the global financial crisis. Despite these challenges, Sun Hong and his partners persevered, investing 12 million yuan initially, which dwindled over time. However, their efforts paid off as MASA MASO quickly climbed the ranks to become the second-largest player in China's e-commerce men's wear market.
Today, MASA MASO achieves an average customer spending of over 500 yuan per transaction and has turned a profit, a significant achievement in the e-commerce landscape. Sun Hong acknowledges the difficulties ahead, stating that China's e-commerce is still evolving and lacks a universally successful model. Yet, MASA MASO has demonstrated that traditional clothing brands can thrive online by adapting their practices without losing sight of their core values.
One notable aspect of MASA MASO is its approach to financing. Unlike many larger e-commerce platforms that rely heavily on venture capital, MASA MASO has managed its growth independently. Sun Hong and his team view venture capital as "icing on the cake," emphasizing that their current trajectory is sustainable without external funding. They remain cautious about accepting investments, ensuring that any decision would genuinely enhance the company's growth.
Looking ahead, Sun Hong remains optimistic about the future of e-commerce. He acknowledges the hurdles ahead but believes that MASA MASO is well-positioned to become a recognized brand. By the end of this year, MASA MASO expects to surpass 70 million yuan in sales, though Sun Hong emphasizes that profitability and sustainability are more critical than sheer size. As the company grows, it may explore opening offline experience stores, but only sparingly, to avoid diluting its focus on e-commerce.
MASA MASO's success in selling high-end menswear online challenges conventional wisdom that e-commerce can only thrive with low-priced goods. Their ability to build a loyal customer base for mid-to-high-end products has reshaped perceptions within the apparel industry, proving that affordability and quality can coexist successfully online.
In conclusion, MASA MASO represents a bridge between traditional menswear and modern e-commerce, offering a fresh perspective on how established brands can adapt and prosper in the digital age. Sun Hong's vision and perseverance have laid a solid foundation for the company's continued growth and influence in the e-commerce space.