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2013: Top 10 Moments in Fast Fashion

Fast fashion became a bit of a buzzword in 2013, with many retailers chasing their tails to catch up to the likes of Inditex-owned Zara who has consistently outdone its competitors when it comes to speed to market. Some retailers revisited strategies, some opted for supplier slim downs, some realized that less can be more in terms of assortments. Either way, fast fashion has risen rapidly and … [Read more...]

As Cambodia Matures into Major Manufacturer, Domestic Unrest Grows

While much ink is spilled over the shifting sands of China as a manufacturing juggernaut, it’s not the only nation in Asia undergoing a radical transformation. Cambodia, once a destination for sourcing executives looking for the cheap production of simple apparel, is fast becoming both increasingly expensive and sophisticated. Many retailers have begun to source much more complicated products … [Read more...]

Fast Fashion Needs New Models

Fast fashion is reaching an inflection point, say analysts. After a decade of blistering growth, it's possible that the period of quick, easy returns is over. A new strategy might be needed, as nervous consumers demand higher quality goods and aren't afraid to pay a little more for them. Some firms are pursuing this path, looking to more expensive goods and a slightly wealthier consumer to drive … [Read more...]

Turkey Minimum Wage Up 4.4%

The minimum wage in Turkey has increased by 4.4%, or $2.70 per hour at current exchange rates. Turkey is a major center for garment production in the EU, largely because of market proximity. It is the second biggest supplier of textiles and the third biggest supplier of garments for the region, despite its high labor costs. "Its competitiveness in the sector is down to a number of factors - … [Read more...]

Profits Jump 79% at Mango

Profits at Spanish retailer Mango jumped 79% during 2012. Net income rose to $150.4 million, and turnover was up to $2.26 billion, up 20% from 2012. The company continued to diversify away from the volatile Spanish market, with roughly 84% of sales coming from foreign markets. Mango also released its Corporate Social Responsibility report, which revealed that turn time on their goods averages … [Read more...]

Mango Predicts Major Sales Increase

Mango, the Spanish fast-fashion chain, aims to have 7,800 stores by 2019 and double sales to $5.85 billion, according to general manager Enric Casi, as reported in WWD. The chain had previously announced plans to launch a new label for teenage girls in the same time frame, along with a plus-sized clothing line. Sales of its men's label, H.E. by Mango, have risen 30 percent annually since 2008, … [Read more...]

New Mango Strategy Looks More Like Zara

After a 60% decline in profit through 2011, Mango has taken a page out of Zara's playbook and cut prices by about 20% across the board. The company has also cut back on its glitzier, more showy options, instead focusing on the sort of day-to-day stalwarts that made Inditex founder Amancio Ortega the world's third-richest man. Investors and analysts agree that Mango is doing its best to emulate … [Read more...]