Mango expands in the world markets Essay Example | Topics and Well Written Essays - 3500 words

Mango expands in the world markets - Essay ExampleAccording to the inquiry findings in 1960s the fashion market was dominated by haute couture but this hack was going to change rapidly with the emergence of mass-consumer society and prt a porter or ready-to-wear clothing. Initially consumers we not real welcoming of the idea and consider ready-to-wear clothing inferior, but by 70s the arc changed as prt a porter caused collections at par with haute couture .Over the years businesses have proven that the retail provides a brand with the highest number of options to showcase its potential. It is noteworthy that Spain was one of the countries which had a significant impact of the European financial crisis in 2008. This worsened the situation for most Spanish businesses as t present was suffering productionivity, high unemployment and low FDI. Even during these tough cartridge holders fashion brands like Zara, Mango and Massimo Dutti were well prepared for the crises due to their high international presence, adaptation and streetwise collections based on urban trends. Mango is one such popular prt a porter brands that have an international presence. Mangos aim right from the beginning has been to dress the urban young woman in premium quality trendy clothing at very low-cost prices. Mango has been expanding rapidly globally and has managed to attain its goal of having a store in every major city of the world. Mango has its origins in Spain and initially Spanish consumers were price-conscious but not as fashion-conscious as their Italian counterparts. So it was Italy who entered the international arena first. Mango had a small presence at the time when they entered the international market but they followed the franchising model and also offered return policies to their consumers8. Key Players and their Performance Mango globally is recognized as a key shammer in the industry of fast fashion, other key players include megabrands like Swedens H&M, Spanish Z ara, American Gap and the U.K. retail scope New Look 9. By fast fashion we mean that these stores turn-over their inventory on a weekly-basis as opposed to a monthly one10 .The key image promoted by all these brands is to make trendy and inexpensive clothing accessible to everyone at a very rapid pace. Currently a dominant trend in the apparel retail has been that they have started forming alliances with celebrity designers. This strategy has worked wonders for most brands and pulled the retail label in-line with high-end celebrity brands. According to Interbrand H&M has been particularly very ardent towards embracing this trend by working in collaborations with the likes of Stella McCartney and Roberto Cavalli (2008). Zara however has not embraced this trend very enthusiastically and sells a somewhat similar product and price range, Mango has attempted to differentiate itself by bringing designers like Mila Jovovich11 , Together they work towards providing affordable clothing to people while having been designed by a top-notch designer. Zara is a member of the Spanish group Inditex, which is considered the worlds largest clothing retailer12 . Presently Zara is showing phenomenal growth and performance as compared to others, here is a representation of sales performance for the brand and some other retail brands for the year 2001 and 2002. Source Torun, F. ZARA-A European Fashion Brand. Mango Positioning and enveloping(prenominal) Competition In terms of branding Mango would be a branded own label by this we mean that they have a mystical label proposition as well as environment and pricing strategy13. However, in light of the positioning Zara would be the closest competitor for Mango, because their target market, rude of origin, business methodology I very similar. Both are examples of fast fashion retailers who have invested extensively n designing and supply chain trouble to ensure that their inventory levels are managed every week rather than on a mo nthly basis. Mango handles all steps from product