Mango closes Alter Made less than a year after its launch
In September of last year, Mango announced the launch of Alter Made, an independent, sustainable and premium brand that the Spanish company began selling last November. Not even a year later, Mango has decided to put an end to the project, instead integrating the premium model into its already existing brand.
Initially targeting online sales in selected markets, including Spain, Germany, France and the Netherlands, Alter Made had failed to "achieve the objectives set independently," according to sources at Mango, as confirmed by Diari Ara.
Conceived as a "sustainability laboratory" meant for experimenting with processes that could later be applied to the Barcelona-based company, Alter Made had set a target of 25 million euros in sales in its first three years in business.
A team of 12 professionals led by Alejandra Mur, Mango Woman's former buying director, presented in its first launch a total of 120 locally produced garments, made of sustainable fabrics. With higher price tags than Mango, the newly created brand sold tops starting at 29 euros, minimalist dresses for 120 euros, knitted cardigans from 140 euros and even reversible anoraks for 320 euros.
Alter Made landed in the Merci Paris concept store, its first physical point of sale in the French market, at the end of last August. However, the coming months represented a transition period in which the brand liquidated its stock and finalized its contracts with suppliers. For its part, Mango will continue to offer premium products through its recently launched "Selection" collection, which includes wool coats, leather trench coats and silk shirts.
The premium market is undoubtedly one of the segments that raises the most questions among retail brands, which are struggling to raise their brand positioning by elevating the perception of customers accustomed to fast fashion while finding the profitability necessary for the survival of their high-end lines and sustainable ambitions. Inditex, for example, has accelerated in this direction since the arrival of Marta Ortega as CEO. However, after the closure of its premium brand Uterqüe, the Spanish group's strategy is not to launch a specific brand but to raise Zara's brand positioning through capsule collections or collaborations with renowned names such as Narciso Rodriguez.
Founded in 1984, Mango increased its turnover by 25% to 1.22 billion euros in the first half of the year, exceeding the level of sales recorded before the pandemic. Headquartered in Barcelona, the brand led by Toni Ruiz is present in 110 international markets and, most recently, has diversified its product portfolio by launching lines such as Mango Teen and its new home line.
Copyright © 2023 FashionNetwork.com All rights reserved.