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."
The 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?