Spanish fashion giant Mango has unveiled ambitious plans to establish 500 new stores globally by 2026. In 2023, Mango opened 130 new stores and revamped another 80, reaching around 2,700 outlets in a total of 115 markets. The brand said it expects to close out FY2023 with sales in excess of 3 billion Euros.
The brand – which was founded in Barcelona 40 years ago by Isak Andic, who currently its non-executive chairman – will target key markets like India, US, Canada, France, Italy and the UK apart from Spain.
In March 2024, the retailer aims to expand its board of directors to nine by adding new independent members including Marc Puig, chairman of Spanish cosmetics group, Puig, owner of brands such as Carolina Herrera, Paco Rabane and Charlotte Tilbury.
It has also appointed its group CFO Margarita Salvans as an executive board member.
Mango CEO Toni Ruiz has become a shareholder after buying a 5% stake in the company.
India Expansion
Mango’s expansion in India has been remarkable, with the company tripling its presence in the country over the past two years. At of the end of 2022, Mango boasted 80 points of sale, making India the country with the highest number of Mango outlets in Asia.
In 2023, the company further accelerated its growth by opening more than 35 new stores, bringing the total store network to over 110 points of sale by the end of the year.
In November 2023, the brand inaugurated its largest flagship store in India at the newly-opened Krishna Curve mall on Linking Road, in Santacruz West, Mumbai. The sprawling 6,350 sq. ft store, housed within the nine-story building, marks a significant milestone in Mango’s aggressive expansion strategy in India. The flagship store, part of the vibrant Krishna Curve shopping hub, will offer Mango’s Woman, Man, and Kids lines, showcasing the brand’s Mediterranean-inspired store concept, New Med.
More Than Just Physical Stores
The brand’s growth strategy extends beyond physical stores, as the company continues to strengthen its online presence. Mango has expanded its online channel to several African countries, including Senegal, Ghana, Cameroon, the Republic of the Congo, Kenya, and others.
Mango.com’s expansion also marks the brand’s entry into new markets such as Ghana, Tanzania, Zimbabwe, and Haiti, showcasing Mango’s global reach and commitment to delivering its unique fashion proposition to diverse audiences around the world.
