Mango to diversify by launching homeware line
Catalan fashion retailer Mango is trying to secure a foothold into a new market segment. Confronted with last spring’s pandemic shockwave, Mango managed to adapt and respond to new trends, like the boom in e-tail and high demand for sportier, more casual outfits, and it now intends to make a foray into the home linen and home decoration markets.
In a press release, Mango stated that “[the group] has created this new line in order to extend the brand’s presence to the homes of its customers, and beyond their wardrobes. This will allow the company to enlarge its product range and offer its customers an improved service, by enabling them to purchase complementary products.” The group is keen to tap the current popularity of home decoration products, prompted by the lockdowns, remote working and generally by the restrictions to people’s movements introduced in recent months, which mean potential customers are spending an increasing amount of time at home.
Mango's new homeware range will be available from Q2 2021. To begin with, Mango will launch a capsule collection of home linen products, featuring bed and bathroom linen and a series of textile products for the kitchen. According to information provided by the group, the range will gradually expand, extending to other categories, such as tableware. Approximately 80% of all products will be produced locally. Style-wise, the collection will be distinctive for its Mediterranean aesthetic and contemporary influences, with a strong focus on neutral hues and pared-down design. The collection will be available in some 20 European countries, and its articles can be viewed on Mango’s e-shop and at the label’s physical stores, on the tablets used by shop assistants.
“Our customers are asking us for products for their homes,” said Toni Ruiz, CEO of Mango. “They want the same comfort and style they look for in clothes, to decorate the rooms of their homes,” he added. The forthcoming homeware launch is a further step towards diversification for Mango, which entered the activewear segment last October. As a result, the group will be able to offer a range as attractive as that of other fast-fashion giants that already feature specific lines and operate dedicated chains, like H&M and Zara Home.
Mango was founded in 1984, and in 2019 it generated the highest revenue in its history, with sales for €2.374 billion, 24% of which came from e-tail. The group hopes to close the 2020 financial year with an e-tail revenue alone of €800 million, and it recently forecast it will top the €1 billion mark in online sales in 2021.
Copyright © 2021 FashionNetwork.com All rights reserved.