Mango made a big announcement on Thursday.
Less than one month after it said it would not be renewing its distribution agreement with U.S. department store J.C. Penney and would instead focus on growing its own stores, the Spanish fashion retailer revealed a new commitment to e-commerce—a segment that currently accounts for 10 percent of total company turnover.
According to a statement, Mango also plans to step up its fast-fashion business model. Starting in February with the Spring/Summer 2016 collection, the retailer will introduce new product every two weeks in an effort to keep its stores stocked with the latest trends.
“Speed and immediacy will be the key factors in this new strategy, which is why all the Mango teams are focusing their efforts on getting the right product in the store at the right time,” the company said, adding that this shift in tactic will require a change in communication. “Every month, the brand will launch a different advertising campaign, featuring the latest trend and represented by the face that best defines it.”
In addition, Mango will no longer print 22 million catalogs each year, opting instead to publish new content digitally every two weeks.
“This will allow the brand to offer information on the latest product news more quickly, via one of the channels it knows best, given that it was a pioneer in the online sector, creating its first website in 1995 and launching its first online store five years later,” the company noted.
At present, Mango has more than 2,700 stores in 109 countries (including seven in the U.S.) and closed fiscal 2014 with a turnover for the Mango-MNG Holding Consolidated Group of 2.017 billion euros (about $2.2 billion), up 9.3% from the 2013 financial year.