Mango to Open 150 Stores this Year

In Industry News, Reports, What's New by Just Style7 Comments

Barcelona–Spanish fashion chain Mango is putting a brave face on the global recession with plans to open 150 shops this year in spite of weak sales growth last year. Last week, the women’s specialty chain said annual sales (both for self-owned and franchised outlets) rose 3% to $2.28 billion.

This compares with an 8% gain for 2008 and similarly robust increases in previous years which helped underpin an ambitious global expansion.Mango said 78% of annual volume now stems from the international markets and 22% from Spain.

The company will enter the Mauricio Islands and New Caledonia this year as it installs the new stores at a $133.5 million cost. Mango said China will remain a major focus with 59 outlets opening there this year.

It will also muscle in South Korea, Singapore and New Delhi where it will inaugurate two new shops at the city’s airport. In Europe, the expansion will center on key Western European markets while the firm will also extend its network in Venezuela, Chile, Peru and Mexico. In 2009, Mango opened 161 shops with 153 of them abroad, cementing its presence in Eastern Europe, the Middle East and Asia. New markets included Iran, Iraq, Belarus and Guatemala.

Regarding its online business, Mango said sales volume totaled $18 million but would not provide previous-year comparatives. The store hopes to heavily promote the business in Russia and China this year. Mango continues to expand its HE Homini Emerito men’s label, which already boasts 137 stores. This year, the brand will open new outlets in Germany, Holland and New Caledonia. Mango already has 1,431 stores in 100 countries including nine in the United States.

Earlier this year, actress Scarlett Johansson designed a Solidarity handbag for Mango, a portion of the profits from the bag’s sales is being donated to NGO Oxfam International for aid to Haiti.

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