Spain’s Mango clothes chain ramps up international enlargement
By
AFP-Relaxnews
Revealed
Mar 10, 2024
Spanish vogue retailer Mango, based 40 years in the past in Barcelona, is ramping its international enlargement regardless of financial uncertainties which have shaken another international mass-market attire giants.
AFP
After a slowdown sparked by the Covid-19 pandemic, the family-owned firm has in latest months inaugurated a number of massive shops across the globe.
They embrace a 400-square-metre (1,300-square-foot) area in Los Angeles, a similar-sized one in Manchester, England, and a flagship retailer in India’s tech hub of Bengaluru.
Mango has opened a complete of 115 shops over the previous 12 months, primarily in america the place its gross sales shops have tripled, the corporate’s international retail director, Cesar de Vicente, stated in an interview with AFP.
It has greater than 2,700 shops in over 115 international locations, in comparison with almost 6,000 worldwide for Zara-owner Inditex, Spain’s different clothes retail success story.
The enlargement has helped enhance turnover with Mango anticipating to publish over three billion euros ($3.3 billion) in gross sales in 2023 — a document — when it proclaims its yearly outcomes on Monday, De Vicente informed AFP as he stood in entrance of prototypes of latest clothes on the firm’s sprawling headquarters in a Barcelona suburb.
It’s at this constructing — dubbed the “campus” — that the textile group which employs 500 stylists designs and checks its future collections.
The corporate sells almost 160 million gadgets of clothes and niknaks a 12 months.
Star ambassadors
Mango traces its origins to 1984 when a younger man of Turkish origin, Isak Andic, opened his first store on the Paseo de Gracia, Barcelona’s well-known buying road, with the assistance of his older brother Nahman which was massively profitable.
Spain had simply emerged from a decades-long dictatorship which ended with the dying of Common Francisco Franco in 1975 and customers have been hungry for extra fashionable garments.
“He noticed that we wanted color, fashion,” stated De Vicente.
Andic rapidly opened dozens of extra shops in Spain after which overseas, beginning in neighbouring Portugal and France, all underneath the title Mango.
To assist enhance gross sales the corporate has employed large stars equivalent to British mannequin Kate Moss, Spanish actress Penelope Cruz, and French footballer Antoine Griezmann for its advertising and marketing campaigns.
Like its essential home rival Inditex, the world’s largest vogue retailer whose different retailer manufacturers embrace Bershka and Pull&Bear, Mango strives to rapidly modify its manufacturing to the newest vogue traits whereas providing reasonably priced costs.
The 2 teams “have many similarities” as a result of they “developed on the similar time” however there are some vital variations, stated Marcel Planellas, a method professor at Barcelona enterprise faculty Esade.
Mango has only a single model and it doesn’t personal any manufacturing unit, outsourcing its manufacturing primarily to lower-cost Turkey and Asia, he added.
500 new shops
The corporate, which employs some 14,000 folks and goals to distinguish itself from low-cost manufacturers equivalent to Shein and Primark by accelerating its transfer upmarket, will current its new strategic plan on Monday together with its annual outcomes.
It’s anticipated to substantiate its worldwide ambitions, with 500 new shops deliberate by 2026.
These openings will largely happen in america, the UK and France, the group’s second-largest market after Spain, stated De Vicente.
This dynamism contrasts with the sluggishness seen elsewhere within the sector in Europe the place US retailer Hole has closed retailers and French retail clothes firm Camaieu, which made and offered its personal collections of ladies’s vogue, closed down on the finish of 2022.
Mango enjoys a “strong scenario” in contrast to a few of its rivals, stated Planellas, who predicts the corporate will listing on the inventory market within the coming years as Inditex did in 2001.
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