In addition to H & M, Zara, Uniqlo, Gap, now you will not remember Mango this fast fashion brand? This from Spain, and Zara with fellow brand in seven or eight years ago all over the major department stores and shopping centers, now It seems hard to find it.
In the year 2015, Mango's profit plunged 96%, while sales in 2016 fell 2.9% year-on-year, while pre-tax profits fell 54.9% to 77 million euros, according to the brand's heat.
The only worthy of the brand Fortunately, its electricity business channel sales increased by 25.6% .Although the H & M, UNIQLO and other competing products are also facing the same fast fashion growth bottleneck, but by contrast, Mango did not like others to actively respond Over the years, Mango has been stalled, whether it is a store, a marketing or a product.
According to "Women's Daily" reported that Mango recently finally in the US market has a greater degree of reform, the reform strategy is mainly concentrated in the channel from the store point of view, Mango SoHo flagship store in New York will be renovated, according to brand vice president Daniel Lopez said: 'The concept of the new store will be a milestone in the history of Mango, marking the brand has a new image.'
SoHo flagship store is Mango in the United States market first entered the reform process of the store, it started also means that the brand in the US market adjustment is about to gradually from New York, gradually extended to the country, its influence can also spread to other countries The main city, but for Mango it is intended to create a new store ecology.
In fact, since 2013, Mango has realized that the store should be optimized. To this end, the Group has invested 600 million euros, the global store has been 24% of the scale has been expanded with these moves, Mango also out of some low-end Locate the mall, such as JCPenny.
In addition to the offline channel, Mango will also optimize the electricity business. At present, Mango's strategy is stationed in Lord & Taylor such electricity providers, in order to expand the channel faster and more widely.In fact, Mango has also been operating their own business Mango.com, but with a mature platform to help Mango faster transformation, and to achieve a wide range of layout.
At the same time, Mango is also developing a dedicated US online store, including better site navigation, shopping and logistics services, after the completion of the consumer can get the goods the next day, but also enjoy a better aftermarket service.
In 2016, Mango received 32% of online sales growth through Mango.com, and now has a 56% growth rate so far this year, it can be said that the electricity business basically decided the future of Mango, it is Driving the transformation of the engine, and the integration of channel business, will also be as Mango's medium-term strategy, which involves many old partners and shops location consultation, said SoHo stores and settled in Lord & Taylor, it may take a lot of time.
Now, the fast fashion has now been the stage of brutal growth, into the intensive farming of the times.Of course, the channel is only auxiliary role, the most fundamental or product improvement.
According to Lopez, retailers are trying to meet consumer demand for quality and speed, "the design of each piece of clothing has never been treated like this, we are increasingly concerned about the details of the design team to do a lot of effort, To adapt to the fast-paced model. "In order to attract younger customers, the group has also lowered its pricing twice since 2013. But for the time being, these adjustments have not yet been marketed.
It is reported that Mango international market revenue is currently accounted for 79% of the Group's revenue, the United States can be described as related to the fate of Mango.But the success or failure of this transformation can not be determined, with H & M, Uniqlo brand transformation plan is also in an orderly manner , The US market is also smoke filled.
Uniqlo stares at the new retail trend, the brand in August at the US airport installed on the vending machine, and H & M has launched a new high-end brand ARKET, the brand's store in London has been opened, and this has been Is the H & M Group's eighth brand, we can see the gradual personalization, style, community of consumers more and more difficult to be a brand swept, and Mango need to rethink the direction of more.
