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.
The Barcelona-based women’s pret-a-porter chain said turnover (both for self-owned and franchised outlets) rose three per cent to 1.48 billion euros.
This compares with an eight per cent gain for 2008 and similarly robust increases in previous years which helped underpin an ambitious global expansion.
Mango said 78 per cent of turnover now stems from the international markets and 22 per cent from Spain.
The firm will enter the Mauricio Islands and New Caledonia this year as it installs the new stores at a 100 million euros cost. Mango said China will remain a major focus and that it hopes to open 59 outlets 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 centre 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 turnover totaled 1.7 million euros but would not provide previous-year comparatives. It 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. In 2010, the brand will open new outlets in Germany, Holland and New Caledonia, Mango said. The company has 1,431 stores in 100 countries.
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