Penney Takes Fast Fashion a Step Forward With Mango
Liz Sweney, executive vice president and general merchandise
manager of women’s apparel at JCPenney, says the company’s deal to establish
a store-within-the-store concept for Mango, the fast fashion retailer, is
nothing short of a game-changer for the department store chain.
a unique arrangement that is again allowing us to step up our style by offering
affordable contemporary fashion,” Ms. Sweney
told Dow Jones Newswires.
Penney will sell an exclusive line, MNG
by Mango, targeted to women between 18 and 35 beginning next fall in 75 stores
and on jcp.com. The company plans to have the 1,000 square-foot mini-stores
operating in 600 stores a year later.
"Fast fashion for the young, modern woman is our highest-potential business opportunity. We have long been intrigued with fast fashion, and through the recent launches of our own private brands, ‘she said’ and City Streets, we’ve experienced great success and confidence in expanding this offering to our customers,” said Myron (Mike) Ullman, III, chairman and chief executive officer of J.C. Penney, in a press release.
time we bring Mango to a new international market, it has driven immediate,
strong demand, and we have only begun to capitalize on the great desire for
Mango in the U.S.," said Enric Casi, Mango’s CEO. "JCPenney is the perfect
match for us to take advantage of the opportunity we see for the MNG by Mango
brand in this market."
Discussion Question: What is your
reaction to the J.C. Penney/Mango deal? What do the parties have to
gain from working with one another? Are there any potential downsides?
- J.C. Penney Is Betting Big By Adding A European
Flair – Dow Jones Newswires/The Wall Street Journal
to Bring Mango’s European Runway Fast Fashion at Affordable Prices to JCPenney
Customers – J.C. Penney Company, Inc./Business Wire