SPAIN. Mango is set to expand in markets such as China and Russia, to tap the “huge” growth potential that exists in these two countries.
The Spanish fashion brand is pursuing a major expansion policy in Asia with a presence in countries such as China, South Korea, the Philippines, Hong Kong, India, Indonesia, Japan, Macau, Malaysia, Singapore, Thailand, Taiwan and Vietnam.
The strongest commitment is in China, where Mango opened three new corners on 15 December, having first entered this market in 2002.
Mango has 121 stores in China and plans to open 26 new outlets in the first half of 2011: 10 new shops in the cities of Ningbo, Taiyuan, Dongying, Xiamen, Zhejiang, Shenzen, Nanjing, Nanning, Chongqing and Shanghai and 16 corners in Beijing, Xuzhou, Jinhua, Nanjing, Fuzhou, Yantai, Zhejiang, Guangdong, Foshan, Tianjin, Kunming and Ningbo.
New stores in Russian cities
The Russian market is another target. On 15 December, the company opened a new store in Saratov and another in Moscow.
The brand, which has 72 stores in the country, 62 of which are franchises, the other 10 being company-owned, has scheduled 10 new stores in the cities of Orenburg, St Petersburg, Noviy Urengoy, Stavropol, Stary Oskol, Irkutsk, Yuzhno-Sakhalinsk, Novosibirsk, Ufa and Tyumen.
Mango has over 1,700 stores in 101 countries. During 2009, it increased its number of stores by 161: eight in Spain and 153 in overseas markets.
While consolidating its presence in markets in Eastern Europe, the Middle East and Asia, the chain also entered the markets of Iran, Iraq, Belarus and Guatemala for the first time.
In financial terms, Mango ended the 2009 financial year with a turnover of €1.48 billion (retail sales excluding VAT) for both company and franchise-owned stores.
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