Core Points - The South Korean fashion brand Mardi Mercredi, which entered the Chinese market in 2022, is set to close all its stores in China after opening its first store in August 2023 [4][6] - The brand's official mini-program mall will cease operations starting October 31, 2023, alongside the closure of physical stores [5][9] - The brand has been withdrawing from multiple cities including Beijing, Shanghai, Changsha, Shenyang, and Wenzhou since September 2023 [6] Online Operations - The official mini-program mall announced that it would stop operations on October 31, 2023, and members must transfer their levels and points to the brands RAIVE and Rest&Recreation by that date [9][16] - The online clothing sales through the mini-program mall ended on October 15, 2023, with the mall officially ceasing operations on October 31, 2023 [9] - Other online sales channels, such as Tmall, Douyin, and Xiaohongshu, will continue to operate normally despite the closure of the mini-program [13][16] Brand Strategy - The closure of the mini-program and physical stores is attributed to "brand operation adjustments" as stated by the brand's Chinese agent, Mandoia [16] - Mandoia indicated that the group is focusing on new brands like Raive and Rest&Recreation, reallocating resources to support their development [16]

Core Insights - Mardi Mercredi, a South Korean fashion brand, is closing all its stores in China and ceasing operations of its online mini-program as of October 31, 2023 [4][8]. Group 1: Store Closures - The brand officially entered the Chinese market in 2022 but opened its first store only in August 2023 [4]. - Currently, there are two stores in Shenzhen and one in Guangzhou that are set to close [4]. Group 2: Online Operations - The brand's official mini-program mall has announced the cessation of operations, and the membership system will also be halted [8]. - Members are required to transfer their membership levels and points to the new brands Raive and Rest&Recreation by October 31, 2023, or risk losing their status and points [8]. Group 3: Brand Strategy - The closure is attributed to "brand operation adjustments" as stated in the mini-program notification [14]. - The brand's Chinese agent, Mandoia (Shanghai) Brand Management Co., indicated that the group is focusing on new brands, including Raive and Rest&Recreation, and will allocate more resources to these new ventures [14].