Core Insights - The article highlights the journey of Chen Nian, founder of Vancl, who faced significant challenges and transformed his business model to live-stream e-commerce after years of debt repayment and operational struggles [2][8][14]. Group 1: Company Transformation - In 2021, Chen Nian pivoted Vancl to live-stream e-commerce, leveraging the brand's legacy on platforms like Douyin [9]. - A pivotal moment occurred on April 18, 2024, when Lei Jun mentioned wearing Vancl products during a live stream, leading to a surge in traffic for Vancl's live broadcasts [9][10]. - By the second quarter of 2025, Vancl's men's clothing ranked third on Douyin's brand list, indicating a successful brand revival [9]. Group 2: Financial Recovery - Chen Nian faced nearly 1 billion yuan in debt, which he managed to repay over a decade, demonstrating a commitment to financial responsibility [8]. - The company struggled with inventory issues and financial losses after failing to meet a sales target of 10 billion yuan in 2011 [4][5]. - Chen Nian's approach to debt repayment was characterized by personal sacrifices, including pledging his property and selling shares, showcasing a deep sense of responsibility [6][8]. Group 3: Personal and Professional Resilience - The narrative emphasizes the importance of resilience and responsibility in entrepreneurship, as Chen Nian chose to face his challenges head-on rather than declare bankruptcy [6][14]. - The friendship between Lei Jun and Chen Nian illustrates the balance between strategic foresight and perseverance in the business landscape [11][12]. - The article concludes with a message that age should not be a barrier to innovation, as demonstrated by Chen Nian's successful transition to a new business model at the age of 55 [13][15].