New Brand Development Will Take Some Time To Reduce Mango Revenue Targets.

< p > because the newly released < a href= "http://sjfzxm.com//business/" > Product > /a > line sales is not ideal, the Spanish high street fashion brand Mango has to modify the medium-term revenue target downward.

As part of the 10 year development plan, Mango launched its children's clothing, sportswear and lingerie product line and Violeta clothing brand last year. This year the brand also introduced a series of clothing for young people and mature women.

Enric Casi, chief executive of Mango, said the new brand is expected to take several years to reach the sales level of the traditional product line.

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< p > Enric Casi acknowledges that the expected 2014~2017 revenue in the past is too optimistic, and now decides to adopt a more conservative standard to set performance targets.

Mango lowered its 2017 revenue target to 3 billion 270 million euros, down about 1/3 from its previous target of 4 billion 970 million euros.

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In P Mango2013, the total revenue reached 1 billion 846 million euros, an increase of 9% over the same period, accounting for 83% of the overseas market revenue. Only 17% of the revenue came from the Spanish local market.

Net profit rose 9% to 120 million 500 thousand euros, an increase of 78.74% over the previous year.

Mango2014's investment budget for fiscal year is about 300 million euros, and is expected to be invested in new store construction, store renovation, logistics and IT system.

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< p > > a href= "http://sjfzxm.com//business/" > France < /a > LVMH divestment Spain Textile Group < /p >

< p > recently, the French luxury goods giant LVMH MOET & CHANDON Hennessy LV group said it was withdrawing shares from the Spanish Textile Group Sociedad Textil Lonia SA.

LVMH has a 25% stake in the group.

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< p > Sociedad Textil Lonia SA is one of the main fashion groups in Spain. It has the Spanish premium brand Purification Garcia, and is the agent of CH Carolina Herrera of the American designer brand.

The group was founded in 1997 by family members of Spanish fashion designer Adolfo Dom nguez.

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"P > < a href= 'http://sjfzxm.com//business/ > > /a >. Sociedad Textil Lonia SA owns 516 independent stores. The annual revenue of 2013 was 254 million euros, up 10% from 231 million euros in the previous year, and net profit of 36 million 540 thousand euros.

LVMH pointed out in its annual report of the 2013 fiscal year that its shareholding value is about 40 million euros, which means that the valuation of Sociedad Textil Lonia SA reaches 160 million euros.

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