Let'S Forget The Fast Fashion Brand Mango. How'S It Going Now?

According to the world clothing shoes and hats net, besides

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Gap, do you still remember Mango's fast fashion brand? This brand, which is from Spain and Zara, is still in the major department stores and shopping centers seven or eight years ago.

And its brand fever is also fading.

In 2015, Mango's profits plummeted by 96%, while sales in 2016 dropped by 2.9% compared with the same period last year, while pre tax profits fell 54.9% to 77 million euros.

The only thing that is worth the brand's happiness is that its sales of e-commerce channels have increased by 25.6%.

Although H&M, UNIQLO and other competing products are also facing the bottleneck of fast fashion growth, Mango is not as positive as others.

Over the years, Mango has been somewhat stalled in stores, marketing and products.

According to the world clothing and shoe net, Mango has recently made a greater degree of reform in the US market, and its reform strategies are mainly focused on channels.

From the store's view, Mango's flagship store in SoHo, New York will be renovated. According to Daniel Lopez, vice president of brand, "the concept of new store will be a milestone in the history of Mango, indicating that the brand has a brand new image."

SoHo flagship store is the first Mango store to enter the reform process in the US market. Its construction also means that the adjustment of the brand in the US market will be carried out step by step.

From New York, it gradually extended to the whole country, and its influence can also spread to other countries' main cities.

But for Mango, it aims to create new store ecology.

In fact, since 2013, Mango has realized that stores should be optimized.

To this end, the group has invested 600 million euros, and 24% of the global stores have been expanded.

Along with these moves, Mango also withdrew from some low-end location stores, such as J.C.Penny.

In addition to offline channels, Mango will also optimize the electricity supplier.

At present, the strategy of Mango is to enter the Lord & Taylor providers to expand the channels faster and wider.

In fact, Mango has been running its own electricity supplier Mango.com, but with the help of mature platform, it can help Mango pform faster and achieve diversified layout.

At the same time, Mango is also developing a special American online store, including better website navigation function, shopping function and logistics service. After completion, consumers can get goods in second days and enjoy better after-sales service.

In 2016, Mango gained 32% of its online sales growth through Mango.com, and has a 56% growth rate so far this year.

It can be said that the electricity supplier has basically decided the future of Mango, which is the engine of pulling the pformation. The integrated channel business will also serve as a medium-term strategy for Mango, which involves many consultations on the location of old partners and shops. It will take a lot of time to separate SoHo stores and Lord&Taylor.

At present, fast fashion has passed the stage of barbaric growth and entered the era of intensive cultivation.

Of course, the channel is only a supplementary role, the most fundamental is the improvement of products.

According to Lopez, retailers are trying to satisfy consumers' dual pursuit of quality and speed. "The design of every dress has never been treated with caution like this. We are paying more attention to details, and the design team has made a lot of efforts to adapt to the fast fashion development mode."

In order to attract younger customers, the group also started a two price reduction from 2013.

At present, however, these adjustments have not yet been noticed by the market.

It is reported that the Mango international market now accounts for 79% of the group's income, and the United States is related to the fate of Mango.

But the success or failure of this pformation is uncertain. With the pformation plan of H&M, Uniqlo and other brands in order, the US market is also full of smoke.

UNIQLO is glued to the new retail trend. The brand installed a vending machine at the US airport in August, and H&M launched a new high-end brand ARKET, which has already opened in London, and this is already the eighth brand of H&M group. It can be seen that gradually personalized, stylized, social consumers are becoming more and more difficult to be taken by a brand, and Mango needs more rethinking.

More interesting reports, please pay attention to the world clothing shoes and hats net.