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猫人无法复制 美力城如何狂飙百亿?

冯羽 2026-07-01 14:56
冯羽 2026/07/01 14:56

邦小白快读

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本文介绍了武汉起家的内衣品牌猫人二十多年的发展历程,以及新孵化品牌美力城的发展现状,核心干货如下:

1. 猫人经历多次转型,从2002年靠性感标签+央视广告起家,2001到2003年销量增长率达800%,2009年跨界休闲服饰失败陷入低谷,2017年转型轻资产平台化模式,剥离生产零售重资产,专注品牌和研发,GMV从2016年的5亿元增长到2024年的168亿元,八年增长超32倍。

2. 营销上坚持1-2年更新一次顶流代言人匹配品牌定位,all in直播电商,线上销售占比超95%,投资千万建6000平方米直播基地,线下五千家门店仅做品牌展示。

3. 2023年推出新品牌美力城,首年GMV超10亿,目标三年破百亿,目前存在品控争议,猫人2025年300亿销售目标大概率未完成,已试水泰国出海,成效待验证。

本文梳理了猫人多次品牌转型的经验与现存问题,能给品牌运营提供多方面参考,核心内容如下:

1. 品牌定位与产品研发:品牌需要跟随市场调整定位,猫人从早期性感内衣升级为科技内衣,靠蜂巢杯文胸、热八度保暖衣等功能性爆款打开市场;新品牌美力城走“向上卷”路线,每款产品至少搭载一项专利技术,对标万元高端性能,定价在2500元以下切入高端全品类服饰赛道,打法值得参考。

2. 营销与渠道:保持1-2年更换顶流代言人的节奏,匹配品牌定位变化,all in直播电商,走饱和投放路线,线上占比超95%,自建大型直播基地做自播矩阵,线下门店仅承担品牌展示功能。

3. 模式与风险提示:采用轻资产模式,剥离重资产环节专注品牌运营,可复用供应链压缩成本,但也存在品控失控的风险,当前内衣赛道红海竞争,猫人科技标签的稀缺性正在被稀释,扩张需匹配能力。

本文梳理了猫人从低谷翻盘的运营经验和最新战略,能给服饰内衣类卖家提供机会参考和风险提示,核心内容如下:

1. 市场机会层面:当前功能性科技服饰是明确的消费趋势,全品类服饰还有消费升级的空间,高端赛道也可以凭借技术+性价比切入,直播电商依然是核心流量阵地,出海可以作为新的增长极尝试,猫人已经在泰国TikTok拿到类目前三的成绩。

2. 可学习的运营经验:可以借鉴轻资产运营模式,剥离重资产的生产和零售环节,专注品牌运营和产品研发,依托现有供应链资源复用压缩成本;营销上靠顶流代言人快速打声量,大投入布局自播+达人直播的全域矩阵,饱和投放获取流量。

3. 风险提示:轻资产模式容易出现品控失控、授权混乱、利润摊薄等问题,当前赛道竞争激烈,新锐品牌更灵活,原有品牌优势容易被稀释,制定增长目标需要贴合实际,避免过度扩张反噬口碑。

本文介绍了猫人集团的轻资产发展模式,能给服饰生产类工厂带来商业机会和转型启示,核心内容如下:

1. 产品生产设计需求层面:当前品牌方都在布局功能性科技产品,不管是内衣还是全品类服饰,都要求产品搭载专属专利技术,比如防水、石墨烯发热等功能,设计需要适配多消费场景,对产品品质的要求越来越高,才能匹配品牌的中高端定位。

2. 商业合作机会:猫人集团整体采用轻资产运营模式,大部分生产环节都交给第三方供应链合作伙伴,新品牌美力城也在复用集团的供应链资源压缩成本,对于具备柔性生产能力、能稳定输出高品质功能性产品的工厂来说,有大量的合作机会。

3. 数字化转型启示:猫人很早就推进数字化管理转型,还自建了智能灯塔工厂做全链条研发生产闭环,说明生产端的数字化升级是行业趋势,工厂提前布局数字化,才能适配品牌方的快速迭代需求,同时要重视品控管控,避免品质问题影响长期合作。

本文分析了当前服饰内衣行业的发展现状和头部品牌的痛点,能给服饰行业相关服务商提供业务方向参考,核心内容如下:

1. 行业发展趋势:当前服饰行业整体转向轻资产平台化模式,品牌方普遍剥离生产和线下零售重资产环节,专注品牌运营和流量获取,线上直播电商已经成为核心销售渠道,功能性科技服饰是主流产品方向,多品牌孵化、全品类扩张、出海拓展是新的增长方向。

2. 品牌方的核心痛点:轻资产模式下,品牌方对供应链的管控能力弱,很容易出现品控问题,流量竞争越来越激烈,差异化定位越来越难,新品牌要快速起量,需要配套的运营、投放、品控支持,现有能力很难覆盖全环节。

3. 服务商业务机会:可以针对品牌的需求,推出直播基地代运营、流量投放优化、第三方品控检测、供应链数字化管理等配套服务,解决品牌轻资产模式下的管控痛点,满足品牌快速起量、全域运营、出海拓展的多方面需求。

本文介绍了猫人集团的全渠道布局策略,能给电商平台的招商、运营提供参考,核心内容如下:

1. 品牌商家对平台的核心需求:当前服饰品牌都把直播电商作为核心流量和销售阵地,头部品牌需要平台给予店播流量扶持,需要配套的运营工具支撑大规模的自播和达人投放,布局多渠道的品牌也需要不同平台提供差异化的运营支持,出海品牌也需要海外渠道的配套服务。

2. 当前品牌商家的最新布局做法:服饰头部品牌普遍加大抖音等内容平台的投入,大量开设店铺,投入千万级资金建设自有直播基地,走自播+达人直播结合的全域运营路线,同时保留天猫等传统电商平台的布局,线下只做品牌展示不承担核心销售功能。

3. 平台运营提示:可以针对头部品牌的大投入布局,推出对应的流量扶持和配套服务,吸引优质头部品牌入驻,同时要关注轻资产模式下的品控问题,协助平台管控商品质量,避免影响平台用户体验,还可以针对品牌出海需求,开发配套的海外渠道服务。

本文梳理了猫人二十多年的转型历程和最新战略,作为典型案例给服饰产业研究提供了丰富素材,核心内容如下:

1. 产业新动向:国内服饰内衣行业已经从传统重资产的自建工厂、线下渠道模式,转向轻资产平台化模式,品牌方专注品牌运营和产品研发,生产销售环节社会化分工;流量运营已经成为品牌的核心竞争力,赛道从单一内衣向全品类科技服饰延伸,出海成为头部品牌新的增长方向。

2. 创新商业模式:猫人探索出“老品牌积淀+新品牌孵化”的双品牌轻资产模式,依托老品牌的供应链资源和品牌影响力,快速孵化新品牌切入新赛道,通过饱和流量投放实现新品牌一年破10亿GMV的成绩,这种模式的可复制性还有待市场验证。

3. 产业新问题:轻资产模式在高速扩张期能释放活力,但规模扩大后容易出现品控失控、授权混乱、利润摊薄等问题,当前赛道内卷严重,头部品牌的差异化标签很容易被新锐品牌稀释,过度追求高速增长的目标容易和实际运营能力不匹配,这些都是产业发展中需要进一步研究的新问题。

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Quick Summary

This article outlines the 20+ year development history of MiiOW, a lingerie brand founded in Wuhan, China, and the current status of its newly incubated subsidiary brand Meilicheng, with key takeaways below:

1. MiiOW has gone through multiple business transformations. It launched to success in 2002 with a "sexy" brand positioning and national TV advertising on CCTV, posting a 800% sales growth between 2001 and 2003. A 2009 expansion into casual apparel failed and pushed the company into a downturn, but it pivoted to an asset-light platform model in 2017, spinning off capital-heavy manufacturing and retail operations to focus on brand building and R&D. Its GMV grew from 500 million RMB ($69 million) in 2016 to 16.8 billion RMB ($2.3 billion) in 2024, marking a more than 32-fold increase in 8 years.

2. On the marketing front, the brand refreshes its celebrity endorser roster every 1-2 years to align with updated positioning, and has shifted fully into live-stream e-commerce. More than 95% of its sales come online, and the company has invested 10 million RMB in a 6,000-square-meter in-house live-stream base. Its 5,000 offline stores operate solely as brand showrooms.

3. It launched the new brand Meilicheng in 2023, which surpassed 1 billion RMB ($138 million) GMV in its first year and targets 10 billion RMB ($1.38 billion) GMV within three years. Meilicheng currently faces quality control controversies, and MiiOW is on track to miss its 30 billion RMB ($4.15 billion) sales target set for 2025. The company has also tested the waters with an expansion into Thailand, but results are still pending.

This article summarizes MiiOW's experience across multiple brand transformations and its ongoing challenges, offering takeaways for brand operators, with key insights as follows:

1. Brand positioning and product R&D: Brands need to adjust their positioning alongside market changes. MiiOW evolved from its early "sexy lingerie" positioning to focus on technology-enabled intimate apparel, building market share with functional hits such as honeycomb-cup bras and 8-degree warm thermal underwear. Its new brand Meilicheng pursues a premium "upward innovation" strategy: every product carries at least one patented technology, matches the performance of 10,000 RMB high-end alternatives, and is priced below 2,500 RMB to enter the premium full-category apparel market. This approach offers actionable reference for other brands.

2. Marketing and channels: MiiOW refreshes its A-list celebrity endorsements every 1-2 years to align with evolving brand positioning, has gone all-in on live-stream e-commerce with a saturated ad buying strategy, and generates over 95% of sales online. It has built a large in-house live-stream base to run an in-house streaming matrix, while offline stores serve only brand display purposes.

3. Model and risk warnings: MiiOW's asset-light model, which offloads capital-heavy operations to focus on brand management, enables supply chain reuse to cut costs. However, it also carries the risk of quality control lapses. The intimate apparel market is now a crowded red ocean, and the uniqueness of MiiOW's "technology-enabled" positioning is being eroded, meaning expansion needs to match the company's core capabilities.

This article summarizes MiiOW's operational turnaround and latest growth strategy, offering opportunity and risk insights for apparel and intimate apparel sellers, with key takeaways as follows:

1. Market opportunities: Functional technology-enabled apparel is a clear consumer trend today, with room for consumption upgrading across full-category apparel. The premium segment can be successfully entered via a technology-plus-value-for-money strategy. Live-stream e-commerce remains the core traffic channel, and cross-border expansion can be tested as a new growth driver—MiiOW already ranks top 3 in its category on TikTok Thailand.

2. Actionable operational takeaways: Sellers can adopt MiiOW's asset-light operating model, spinning off capital-heavy manufacturing and retail operations to focus on brand building and product R&D, cutting costs by reusing existing supply chain resources. For marketing, A-list celebrity endorsements deliver fast brand awareness, while large investments in a full matrix of in-house live streaming and influencer streaming, paired with saturated ad buying, can capture large volumes of traffic.

3. Risk warnings: The asset-light model is prone to quality control lapses, unclear licensing management, and profit dilution. The current market is intensely competitive, and agile new challenger brands can easily erode established brands' competitive edges. Growth targets should be grounded in actual operational capacity to avoid overexpersion that damages brand reputation.

This article introduces MiiOW Group's asset-light development model, offering business opportunities and transformation insights for apparel manufacturing factories, with key insights as follows:

1. Product and design requirements: Today's brand owners are all focusing on functional technology-enabled products. Both intimate apparel and full-category apparel require products built with exclusive patented technology, such as waterproofing and graphene heating. Designs need to fit multiple consumer scenarios, and product quality standards are rising to match brands' mid-to-premium positioning.

2. Business cooperation opportunities: MiiOW Group operates an entirely asset-light model, outsourcing most production to third-party supply chain partners. Its new brand Meilicheng also leverages the group's existing supply chain to cut costs, meaning factories with flexible production capabilities and consistent output of high-quality functional products have abundant cooperation opportunities with the group.

3. Digital transformation insights: MiiOW began its digital management transformation early, and has built an in-house smart lighthouse factory to close the loop on full-chain R&D and production. This shows that digital upgrading on the production end is an industry-wide trend. Factories that build out digital capabilities early can meet brand owners' demand for fast iteration, and must prioritize quality control to avoid quality issues damaging long-term cooperation.

This article analyzes the current state of the apparel and intimate apparel industry and pain points for leading brands, offering business direction insights for apparel industry service providers, with key takeaways as follows:

1. Industry development trends: The apparel industry as a whole is shifting to an asset-light platform model, where brand owners generally spin off capital-heavy manufacturing and offline retail operations to focus on brand operation and customer acquisition. Live-stream e-commerce has become the core sales channel, functional technology-enabled apparel is the mainstream product direction, and multi-brand incubation, full-category expansion, and cross-border expansion have emerged as new growth drivers.

2. Core pain points for brand owners: Under the asset-light model, brand owners have weak control over their supply chains, making quality issues highly likely. Traffic competition is intensifying, and differentiated positioning is increasingly difficult to achieve. New brands need end-to-end support for operations, ad buying, and quality control to scale fast, which existing in-house capabilities rarely cover fully.

3. Business opportunities for service providers: Service providers can develop tailored offerings to match brand demand, such as live-stream base operation outsourcing, traffic buying optimization, third-party quality inspection, and digital supply chain management services. These offerings address the control gaps in brands' asset-light models, and meet brands' diverse needs for fast scaling, full-channel operations, and cross-border expansion.

This article introduces MiiOW Group's omni-channel layout strategy, offering insights for e-commerce platforms on merchant recruitment and platform operations, with key takeaways as follows:

1. Core demands from brand merchants on platforms: Today's apparel brands all treat live-stream e-commerce as their core traffic and sales channel. Leading brands need platforms to provide in-store streaming traffic support and operational tools to support large-scale in-house streaming and influencer campaigns. Brands with multi-channel layouts also require differentiated operational support across different platforms, and cross-border brands need supporting services for overseas market entry.

2. Latest layout practices from brand merchants: Leading apparel brands are increasing investment in content platforms such as Douyin, opening large numbers of stores, investing tens of millions of RMB to build in-house live-stream bases, and running a full-channel strategy combining in-house and influencer live streaming. They maintain a presence on traditional e-commerce platforms such as Tmall, while offline stores only serve brand display rather than core sales functions.

3. Operational takeaways for platforms: Platforms can launch tailored traffic support and supporting services for the large-scale layouts of leading brands to attract high-quality top brands to their platforms. They also need to monitor quality control issues arising from the asset-light model, assist with product quality management to avoid harming user experience on the platform, and develop supporting overseas market services to meet brands' cross-border expansion demand.

This article outlines MiiOW's 20+ year transformation journey and latest strategy, offering rich material for apparel industry research as a representative case study, with key insights as follows:

1. New industry trends: China's apparel and intimate apparel industry has shifted from the traditional asset-heavy model of owned factories and offline channels to an asset-light platform model, where brand owners focus on brand operation and product R&D, and production and sales are handled via specialized socialized division of labor. Traffic operations have become a core competitive capability for brands, the category is expanding from single-category intimate apparel to full-category technology-enabled apparel, and cross-border expansion has become a new growth direction for leading brands.

2. Innovative business model: MiiOW has developed a dual-brand asset-light model of "legacy brand foundation + new brand incubation", leveraging the legacy brand's supply chain resources and brand influence to quickly incubate new brands entering new segments. Through saturated traffic buying, it delivered over 1 billion RMB GMV for a new brand in its first year, though the replicability of this model remains to be tested by the market.

3. New industry issues: While the asset-light model unlocks dynamism during high-speed expansion, it becomes prone to quality control lapses, licensing chaos, and profit dilution as scale grows. Today's intensely competitive market means leading brands' differentiated positioning can easily be eroded by new challenger brands, and overambitious high-speed growth targets often outpace actual operational capacity. These are all new industry issues that require further research.

Disclaimer: The "Quick Summary" content is entirely generated by AI. Please exercise discretion when interpreting the information. For issues or corrections, please email run@ebrun.com .

I am a Brand Seller Factory Service Provider Marketplace Seller Researcher Read it again.

6?18限时返场直播,猫人的抖音直播间里热闹如常。

一款刘亦菲同款文胸“折后89元”,主播话音刚落,这款产品的链接很快弹出上百件“热卖”的字样。

从2002年第一次在央视打广告,到2017年的战略转型,再到2024年一手孵化出爆卖超10亿的黑马品牌美力城——过去二十年,猫人几乎每隔几年就会完成一次“自我革命”。但每一次跳跃,都伴随着掌声与质疑。

它曾是中国内衣行业最敢“折腾”的品牌,也是最不甘平凡的闯入者。

如今,站在跨越300亿元目标的门槛上,猫人正面临一场更为凶险的战役:旧战场的竞争者步步紧逼,新赛道的对手虎视眈眈,轻资产模式的隐忧若隐若现。

这家从武汉起家的内衣企业,能否穿越周期,以“百亿选手”之姿实现千亿增长的野心?

1

从性感内衣,到科技黑马

2002年,一则央视广告让“猫人”这个名字走进了千家万户。

彼时的猫人,踩着中国消费市场最早一批品牌化的浪潮,以“性感”为标签切入内衣赛道,请来当红明星舒淇代言,迅速在国产内衣市场撕开一道口子。

传统媒体时代的广告效应被放到最大——从2001年到2003年,猫人销量增长率高达800%,2004年实现营收8亿元。

但这条“性感之路”,猫人走得并不顺畅。

2009年,踌躇满志的猫人宣布进军休闲服饰领域,试图将“性感内衣”的成功经验复制到更大的服饰版图。

然而现实给了它沉重一击——休闲服饰与内衣是完全不同的竞争逻辑,供应链、渠道、消费心智全然不同。

创始人游林此后回忆道,从2014年到2017年,猫人遭遇了“八高危机”——即高负债、高库存、高应收、高应付、高费用、高亏损、高诉讼和高利贷。几年内公司亏损了好几亿。

一番折腾后,猫人的业绩陷入低谷,品牌声量也随之黯淡。

真正的转折点,出现在2017年前后——猫人开放全品牌授权合作,并启动数字化转型,转向以电商为主导的轻资产平台化模式。

猫人提出“五化”策略,即思维互联网化、模式平台化、组织阿米巴化、管理数字化和品牌IP化,分别解决思维问题、模式问题、员工动力问题、数字驱动管理问题和消费者购买选择问题。

具体来说,就是剥离生产与零售重资产,专注品牌运营与设计研发,将大部分制造环节交给供应链伙伴,将销售环节交给经销商与电商平台。

这在当时的内衣行业算得上激进——行业主流仍是重资产的自建工厂模式。但猫人赌的是:未来是品牌和用户运营能力的竞争,而不是谁的工厂更大。

轻资产战略释放了猫人的资金压力,也为它重新定位腾出了空间。

2022年,猫人确立了全新的科技战略定位,提出“科技内衣”的概念,并先后推出蜂巢杯文胸、热八度保暖衣等主打功能性的产品。

通过洞察市场痛点、打造爆款产品,猫人很快实现了营收规模的跃升。

2016年,猫人全网GMV仅为5亿元,到2024年,猫人品牌全网GMV突破168亿元,八年间增长了超过32倍。

在今年618天猫内衣销售榜和抖音618服饰行业高光品牌榜上,猫人品牌均位列第四。

2

以明星为矛,All in直播电商

如果说科技是猫人的底座,那明星代言就是它最锋利的矛。

根据公开信息,每间隔1-2年,猫人就会更新一位代言人:从第一位代言人舒淇,到此后的郑伊健、李嘉欣、李湘、小S,再到将目光投向顶流明星阵营,如迪丽热巴、王俊凯、肖战、刘亦菲,从代言人的风格选择上,也反映了公司的产品定位和风格变化。

保持高营销投入的同时,游林敏锐地意识到直播电商将成为前所未有的市场机遇,并决定“100%精力All in”。

2020年前后,全国线下零售环境遇冷,猫人则在线上铺设了100多家抖音店铺崛起,迅速在新渠道打出声量;面对竞品在达人直播上的优势,猫人不仅同步增加预算,还为产品准备了工艺检验报告和功能性报告,让产品顺利进入各大主播直播间。

随着店播成为抖音的布局重点,2021年,猫人投资上千万元建设的直播基地已投入运营,占地6000平方米、含50个主题直播间。

“流量驱动”已经成为猫人的核心基因。据猫人在2023年披露的数据,其线上渠道销售占比超95%。抖音无疑是它的主阵地。

根据有米云数据,在近30天内,抖音猫人服饰旗舰店直播引流素材和商品广告素材投放数量分别为205和176个,分别增长9.04%和7.32%。

在有米云搜索“猫人”关键词,则会出现上千个抖音内达人或品牌店铺,每个店铺日均有上千件内衣产品销往全国各地。

可以说,今天的猫人更像一家“品牌流量公司”,而不是传统意义上的服装企业。

线下渠道方面,猫人全国门店约5000家。不过线下门店更多承担品牌展示、用户体验和私域流量构建的功能,实际销售贡献相对有限。

值得注意的是,猫人的这套打法在行业里并不独特。ubras、蕉内等新锐对手早已将流量运营玩得炉火纯青,甚至更轻更灵活。猫人的优势在于规模和品牌积淀,但“后发制人”的代价是——它永远在追赶,而不是定义规则。

3

复制“猫人”与百亿野望

2025年初,猫人集团在武汉召开战略年会,董事长游林抛出了一颗“深水炸弹”:2025年集团销售目标剑指300亿元,2030年冲击千亿元。

这个数字有多疯狂?2024年猫人品牌GMV为168亿元,美力城GMV超10亿元,双品牌合计约178亿元。要在一年内从180亿元冲到300亿元,增幅接近70%。

如今2026年已过半,猫人并未公布去年营收规模,“2025年剑指300亿元”这一目标大概率未能实现。对此,「创业最前线」 也向猫人方面致函求证,但截至发稿前未获回复。

即便如此,游林有此野心,不得不归结于猫人的“双品牌战略”:

第一个品牌是猫人本身,继续深耕科技内衣赛道,凭借爆品矩阵和业务规模在内衣圈站稳脚跟;

第二个品牌是其2023年推出的全新子品牌美力城,定位“全品类科技服饰”,剑指羽绒服、防晒服等服饰全品类赛道。

美力城的崛起,是2024年内衣圈的“黑马事件”。这个成立仅一年的新品牌,靠一款高科技鹅绒服在冬季创下单季销售超10亿元的业绩,直接杀入加拿大鹅、波司登等巨头盘踞的高端市场。

在品牌策略方面,美力城每一款产品至少搭载一项专利技术,如防水、石墨烯发热等,落实时尚科技定位,对标万元性能,价格定在2500元以下,同时聚焦多场景,布局羽绒服和防晒衣等品类。

渠道方面延续猫人高举高打的营销策略进行饱和式投放,以流量明星和达人进行全域种草,同时在天猫和抖音上建立自播矩阵,线下则在核心一线城市5000多栋高端写字楼打广告......

猫人集团将这一战略概括为“向上卷”——“当别人在横向内卷时,我们要向上卷”。

支撑这一策略的,是被美力城总结为对猫人品牌20年积累下来的供应链优势的复用,从而实现生产成本和周期的压缩。

但事实上,自猫人集团决定走轻资产路线后,其已将大部分生产环节委托给第三方生产商。

据公开信息,其在武汉经开区建设的猫人时尚产业园智能灯塔工厂拥有20条柔性生产线,能够实现研发、测试、生产到应用的全链条闭环。

然而在轻资产模式下,有多少产品来自自建智能工厂的产线、以及美力城如何对集团产业链进行复用,外界无从知晓,美力城天猫旗舰店客服也表示无法提供相关工厂信息。

与之相对的是,在多个社交平台上,均有消费者反馈美力城羽绒服品控较差等问题。

“未来三年,美力城要实现全网GMV破100亿元;十五年内,成为千亿规模的服饰品牌。”游林在2023年便抛出了这一“战略目标”,他想让美力城用10年走完优衣库花30年走过的巨头之路,不难看出其野心勃勃。

然而,若品质和定价不符,长期来看美力城恐怕难以复制猫人的成功,美力城还需在品控、售后服务和差异化设计等方面下功夫,让消费者收获更好的消费体验。

事实上,对于猫人整个集团而言,眼前想要实现300亿元目标确实并非易事。

如今的内衣赛道已成为红海。蕉内、ubras等新锐品牌早已在“科技内衣”赛道布局多年,它们更轻、更快、更懂年轻人,猫人“科技”标签的稀缺性正在被稀释。

优衣库、全棉时代等国民品牌在基础内衣品类根深蒂固,它们拥有更完善的供应链和更广泛的消费认知,猫人要在基础品类撕开口子并不容易,更遑论众多白牌和传统内衣品牌都在争抢“市场蛋糕”。

更重要的是,轻资产模式在高速增长期是优势,但当规模触达天花板,品控风险、授权失控、利润摊薄等问题或可能集中爆发。

出海,或将成为猫人的“第二战场”。2025年,猫人在泰国TikTok市场文胸品类GMV稳居平台前列,整体跻身类目TOP3,并斩获TikTok“年度出海先锋奖”,但并未公布具体的销售数据。

未来,海外市场能否成为猫人“第二增长极”,尚待时间验证。

从性感内衣到科技服饰,从单品牌到双品牌,从国内到出海,猫人用二十多年完成了一次又一次的惊险跳跃。“剑指300亿元、冲击千亿元”这些目标的背后,是游林对猫人发展方法论的自信,也是其对增长速度的执念。

这是一场“豪赌”。赌赢了,猫人将迈向更高的发展台阶;赌输了,规模扩张反噬品质口碑的故事,或将成为商业史上又一段警醒后人的案例。

游戏才刚刚开始。

注:文/冯羽,文章来源:创业最前线(公众号ID:chuangyezuiqianxian),本文为作者独立观点,不代表亿邦动力立场。

文章来源:创业最前线

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FAQ回顾

猫人品牌属于什么行业?发展现状如何?

猫人是国内头部科技内衣品牌,2002年靠性感内衣定位切入市场,2017年启动轻资产数字化转型,2022年确立科技内衣战略,2024年全网GMV突破168亿元,位居天猫、抖音内衣销售榜前列。

美力城是什么品牌?有什么特点?

美力城是猫人集团2023年推出的全品类科技服饰子品牌,每款产品至少搭载一项防水、石墨烯发热等专利技术,对标万元高端性能,定价在2500元以下,2024年单季鹅绒服销售额超10亿元。

猫人的轻资产模式有什么利弊?

猫人2017年转向轻资产平台化模式,剥离生产零售重资产,专注品牌运营和研发,8年间GMV增长超32倍,但也存在品控风险、授权失控、利润摊薄等潜在隐患,可能在规模触顶后集中爆发。

猫人集团的未来发展目标是什么?

猫人集团2025年曾提出年销售目标300亿元、2030年冲击千亿元的目标,子品牌美力城计划三年内全网GMV破百亿元,十五年内成为千亿规模服饰品牌,同时布局出海寻找第二增长极。

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