Penney on Fast Track with New Fashion Line
J.C. Penney is looking to pick up the pace of its fashion
sales with the launch of a new, exclusive line created for the department store
chain by fast-fashion retailer Mango MNG Holding SL of Spain.
Back in December
of last year, when the deal between the two companies was announced, Penney
CEO Myron "Mike" Ullman said, "Fast fashion
for the young, modern woman is our highest-potential business opportunity …
The Mango name has become synonymous with fashion at a moderate price and for
innovation in creating quality merchandise at enormous speed."
Mango is known for
being able to go from design to finished product in stores within four weeks
keeping pace with the changing tastes of young adult female consumers. Penney
is hoping the MNG by Mango line will help bring more of those shoppers into
its stores and onto jcp.com to buy.
Liz Sweney, executive vice president and general
merchandise manager of women’s
apparel at Penney, told The Wall Street Journal, "We’re great in
teenage space, and really good once a woman has her first baby or buys her
first home, but weaker with that early 20-something, early 30-something customer."
line will launch in 77 Penney stores on Aug. 18 and be sold in 600 of the chain’s
stores by the fall of 2011. In-store boutiques featuring the line will be made
over every two weeks, twice as fast as Penney’s other fashion brands, according
to the Journal.
Discussion Questions: Has fast-fashion become a requirement in retailing
today or does the traditional means of sourcing apparel still work? Do you
think the exclusive MNG by Mango line will help J.C. Penney gain share of
the fashion business with females in the early 20 to 30 age range?
- Penney Weaves New Fast-Fashion Line – The Wall Street Journal
- JCPenney to Bring Mango’s European Runway Fast Fashion at Affordable Prices
to JCPenney Customers – J. C. Penney Company, Inc./Business Wire
- Should department stores play the fast fashion card? – The Sydney Morning