|MNG by Mango Launches Exclusively at JCPenney|
Dedicated MNG by Mango Shop-Within-a-Shop Transforms JCPenney's Contemporary Shopping Experience
PLANO, Texas, Aug 18, 2010 (BUSINESS WIRE) --
Giving customers a new, exciting reason to shop early and often, J. C. Penney Company, Inc. (NYSE: JCP) today announced the launch of MNG by Mango(R), bringing high quality, affordable European runway fast fashion directly to the JCPenney customer. JCPenney is the exclusive U.S. department store retailer for MNG by Mango, with new merchandise arriving at JCPenney twice monthly.
The collaboration between Mango and JCPenney capitalizes on the strengths of both companies, combining Mango's fast fashion leadership with JCPenney's merchandising, marketing and inventory management capabilities. MNG by Mango expands JCPenney's exceptional, exclusive contemporary assortment which currently includes ALLEN B(R), I Heart Ronson(R) and Bisou Bisou(R) and builds on the successful integration of Sephora inside JCPenney enabling the Company to continue to capitalize on its full fashion potential with top, global brands.
"The launch of MNG by Mango is a testament to our success in making JCPenney a first-choice style destination and the department store leader in fast fashion," said Liz Sweney, JCPenney's executive vice president and senior general merchandise manager. "Contemporary apparel for women is our fastest-growing category and we believe the launch of MNG by Mango at JCPenney - with its standout shop-within-a-shop experience and constant flow of fresh new merchandise - will allow us to create a sense of discovery for our customers every time they shop, allowing us to grow our market share."
MNG by Mango will present a full contemporary lifestyle offering of career and casual women's sportswear as well as handbags, accessories and footwear. The brand will fall into JCPenney "better" and "best" pricing tiers with items retailing from $9.90-$19.90 for a tee to $59.90-$159.90 for a jacket.
Creating an impactful brand presence and specialty store feel, MNG by Mango will be featured in-store in a dedicated shop-within-a-shop experience that will transform JCPenney's contemporary offering. The shop-within-a-shop will be presented with the look-and-feel of a stand alone Mango store, including the retailer's signature black and white logo, stylized fixtures and chandeliers, as well as lifestyle images and mannequins featuring head-to-toe looks showcasing the latest fashion trends. The brand will be available on jcp.com and in 77 JCPenney stores across the country beginning in fall 2010 and will expand into 600 stores by fall 2011. Additionally, Associates at any of JCPenney's 1,107 stores will be able to assist customers interested in purchasing MNG by Mango merchandise as all point-of-sale registers are connected directly to jcp.com.
Mango, a leading international fashion retailer - currently in 100 countries - has been well received in every new market it enters and has begun to expand its store base in the U.S.
This press release has an accompanying Smart Marketing Page providing further details about the organization, products and services introduced above. You can access the Smart Marketing Page via the following link: http://www.businesswire.com/smp/mng-by-mango-at-jcpenney/.
JCPenney is one of America's leading retailers, operating 1,107 department stores throughout the United States and Puerto Rico, as well as one of the largest apparel and home furnishing sites on the Internet, jcp.com, and the nation's largest general merchandise catalog business. Through these integrated channels, JCPenney offers a wide array of national, private and exclusive brands which reflect the Company's commitment to providing customers with style and quality at a compelling price. Traded as "JCP" on the New York Stock Exchange, the Company posted revenue of $17.6 billion in 2009 and is executing its strategic plan to be the growth leader in the retail industry. Key to this strategy is JCPenney's "Every Day Matters" brand positioning, intended to generate deeper, more emotionally driven relationships with customers by fully engaging the Company's approximately 150,000 Associates to offer encouragement, provide ideas and inspire customers every time they shop with JCPenney. For more information visit www.jcpenney.net.
MANGO is an international brand dedicated to the design and commercialization of fashion, aimed at urban women aged 18 to 40 and is one of Spain's top two exporters in the textile sector. The firm began its international expansion in 1992 with the opening of two franchises in Portugal. Today, it is present in 100 countries in all five continents with 1,500 stores. Thanks to its rapid international expansion, the company has fulfilled its aim: to have a store in every major city in the world. MANGO ended the 2009 financial year with a turnover of 1.48 billion euros, a figure that corresponds to Retail Sales excluding VAT for both company and franchise-owned stores. Furthermore, the MANGO/MNG Consolidated Group turnover was 1.15 billion euros, a figure that corresponds to Retail Sales excluding VAT for company-owned stores, plus wholesale sales to franchises. Given the major international presence of the brand, 78% of turnover corresponds to foreign markets, and the remaining 22% to the domestic market.
Photos/Multimedia Gallery Available: http://cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fwww.businesswire.com%2Fcgi-bin%2Fmmg.cgi%3Feid%3D6389267%26lang%3Den&esheet=6389267&lan=en-US&anchor=http%3A%2F%2Fwww.businesswire.com%2Fcgi-bin%2Fmmg.cgi%3Feid%3D6389267%26lang%3Den&index=3&md5=caad965054b6c5e35274f58eda62b62d
SOURCE: J. C. Penney Company, Inc.
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