Smith Barney Costume Zhou Chengjian: 100 billion e-commerce by 2020
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September 27, 2025
Zhou Chengjian, founder of Smith Barney, has set an ambitious goal for his e-commerce business: reaching 100 billion yuan in sales by 2020. When he mentioned this figure, his calm expression didn’t show much emotion, but when talking about customer service and capturing consumer needs, his tone became more energetic. “If Tencent were to shut down for a month, many people would face daily challenges. If Smith Barney could operate like Tencent, meeting consumers’ needs, the scale of our business would naturally grow,†he said with enthusiasm.
Zhou, who started as a saleswoman at a grocery store at age 8, has spent decades in the retail industry and continues to maintain momentum in the apparel market. During this year’s New Year, he personally visited Smith Barney stores in cities like Xiamen and Nanning, even stepping into the role of a purchasing guide to gather customer feedback. “Retail can’t be separated from the market. The farther you are from the office, the farther you drift from the real world,†he emphasized. As lifestyles and consumption patterns change rapidly, he believes that retailers must adapt quickly, evolve, and continue to meet and even anticipate consumers’ needs.
With China entering the high-speed rail era, major cities like Beijing and Shanghai are facing traffic congestion, which Zhou sees as both an opportunity and a challenge. Before high-speed rail, fashion standards varied significantly between first-tier cities and smaller ones, but now, with faster travel, the gap is shrinking. “The closer the distance between cities, the narrower the gap between urban and rural markets. This will bring dramatic changes in fashion standards, offering us new opportunities and challenges,†he explained.
High-speed rail also brings convenience and new possibilities. For instance, traveling from Hangzhou to Shanghai now takes only 45 minutes, while moving across the city still takes two hours. In the future, the journey from Beijing to Shanghai will take just four hours, but moving within a city might still be time-consuming. “As major cities become more congested, we see new commercial areas forming outside traditional districts, creating opportunities for businesses like ours,†Zhou noted.
He pointed out that as congestion increases, consumers may prefer shopping in regional community centers rather than crowded downtown areas. “In the past, people would go to Nanjing Road to buy Metersbonwe clothes. Now, it takes two hours to get there. That’s inconvenient, so we need to bring our stores closer to where people live,†he said. While this presents a challenge for traditional stores, it also opens up new avenues for growth.
At the core of his strategy is understanding both known and unknown consumer needs. “We must not only satisfy what customers know they want, but also anticipate their potential demands,†Zhou stressed. Building strong consumer-brand relationships and fostering loyalty are key to success, he added. “If consumers can leave you anytime, your scale means nothing. Only when you truly meet their needs will your business grow naturally.â€
Despite never shopping on Taobao, Zhou has launched a large-scale e-commerce initiative called “Bangbuwang.†Launched quietly in December 2010, it saw daily sales exceed 300,000 yuan within weeks. “The average order value of over 300 yuan shows that our model is gaining recognition,†he said. He emphasized that e-commerce should not just be about low prices but also about brand value and superior user experience.
Looking ahead, Smith Barney aims to achieve 100 billion yuan in e-commerce sales by 2020. The company is also working on vertical integration through its e-commerce platform, combining online and offline channels to offer a seamless shopping experience. “Traditional stores are like ground forces, while e-commerce is the air force. Together, they can win the battle,†Zhou explained. His vision is to create a cost-effective, convenient, and brand-focused online shopping experience that complements physical stores.