Mango reduces prices by 20%

Spanish womenswear chain Mango is adapting to the tougher economic times by announcing that it is dropping its prices by an average of 20 per cent for spring 12.To launch the price drop, which the retailer hopes will attract

shoppers, the brand is including the price factor as a ‘positive and differential element’ in its advertising campaign, which this season features iconic British model Kate Moss. The major campaign will include a TV advert, which is being broadcast in 38 countries, a billboard campaign in major cities worldwide, as well a print ad in the top fashion magazines.

Alongside the marketing, the international fashion brand is continuing to presents its collections at the international fashion shows its hold every season in Barcelona, Istanbul, Moscow and Shanghai.

The firm, which began its international expansion in 1992 with the opening of two franchises in Portugal, now has 2,415 stores in 107 countries and is Spain's second biggest exporter of women's fashion. In the 2010 financial year, sales for the Mango chain were 1.59billion Euros, with 81 per cent of that turnover coming from foreign markets.