Mango wants growth, and it aims to achieve that by expanding its store base.
The Barcelona-based fashion chain is celebrating its 40th anniversary in 2024. Often referred to as a purveyor of fast fashion, the company is working on changing that perception. And it’s expanding its offerings in home, as well as elevating the look of its stores.
The company’s Elevate plan calls for the expansion of its store base by more than 500 by 2026 and a target of annual sales of over $4.3 billion.
Mango earlier this month opened a new flagship in Rome in the Alberto Sordi shopping center on Via del Corso. It also plans new stores in central and southern Italy, as well as in northern cities that include Bologna and Verona. Also on the slate is a new store for the first time in the city of Genoa.
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Mango is also refurbishing several stores in the country, including its Milan flagship in Galleria del Corso, to incorporate its New Med store concept. New Med’s focus is on the integration of sustainability and architectural elements to the new design that positions the stores as a Mediterranean home with different spaces.
The fashion chain ended 2023 with 92 stores in Italy, as well as its online channel, and plans to open a total of 15 new doors in the country this year, including company-owned stores and franchises.
“Italy is one of the most important markets in the global fashion world and is therefor a key market for Mango,” Daniel López, Mango’s expansion and franchise director, said.
The Rome flagship, at more than 1,300 meters (4,265.1 square feet), offers products from its Woman, Man and Kids lines. Another store is planned for the capital city on Via Nazionale, although Mango hasn’t yet disclosed its opening date.
Mango in February kick-started the expansion of its store base in the U.K. with the opening of a store in the Windsor Yards shopping center, near Windsor Castle. The chain said it plans four more store openings in London this year.
Across the U.K., Mango has plans to open more than 20 doors. The stores, also incorporating the New Med format, will be in Glasgow and Edinburgh in Scotland, central and southern England, and for the first time will include a presence in cities in Northern Ireland. The company had 60 stores across the U.K., including company-owned sites and franchises, in 2023.
As part of Mango’s Elevate plan, the store plan will boost Mango’s presence in Spain, France, Italy, Germany, the U.K., Poland, India, Canada and the U.S. It also plans to expand its U.S. base until it becomes one of Mango’s top three markets.
The online business posted sales over 1 billion euros ($1.08 billion) for 2023, contributing to total sales that gained 15 percent to 3.1 billion euros ($3.36 billion). Net profit more than doubled to over 172 million euros ($186.2 million) from 81 million euros ($92.8 million). Its top five markets were Spain, France, Germany, Turkey and the U.S. Women’s remains the driver of the group’s sales, with men’s representing 11 percent and kids’ and teen’s contributing 8 percent of total sales.
Mango is also looking to expand its home line. The company on Friday named Nuria Font the director of Mango Home. Font, who has nearly a 20-year tenure at Mango, was the director of the wholesale department at the fashion firm. Mango Home was founded in 2021.
In addition to its New Med focus, the company has been focusing more on sustainabiilty efforts, from introducing a capsule collection of products featuring regenerative cotton to offering its employees training on sustainable production, such as recycling and circularity.
