The Spanish fashion retailer Mango Clothing has revealed ambitious plans for substantial global expansion. With this new plan, the brand focuses on inaugurating 500 new stores in 2026 across strategic markets, including the United States, Canada, France, Italy, the...
The Spanish fashion retailer Mango Clothing has revealed ambitious plans for substantial global expansion. With this new plan, the brand focuses on inaugurating 500 new stores in 2026 across strategic markets, including the United States, Canada, France, Italy, the United Kingdom, India, and its home base in Spain.
The Inditex company, a close competitor to Zara‘s parent company, is experiencing a surge in sales this year. Moreover, it is projecting a minimum 12% increase over 2022 to exceed 3 billion euros.
Marking its re-entry into the U.S. market, Mango‘s spiking into states like Texas, Georgia, and California has significantly contributed to its revenue. Mainly, the brand’s current focus involves doubling the number of stores to 40 by the following year. That is because of two previous unsuccessful attempts to establish a foothold in the country.
Throughout 2023, Mango Clothing has successfully launched 130 new stores and revamped an additional 80. Accordingly, it is expanding its global footprint to encompass approximately 2,700 outlets across 115 markets. Primarily, this expansion aims to cater to diverse customer bases, including Mango’s offerings for men and kids and their signature Mango dresses.
As part of its strategic initiatives, Mango Clothing announced plans to augment its board of directors by adding four independent members. Despite Puig’s involvement in viewing an initial public offering for his company, there is no indication of a stake in Mango. This company originated in Barcelona 40 years ago under the guidance of its non-executive chairman, Isak Andic.
Key Figures Joining the Mango Clothing Board: Who Are They?
Image Source: Mango
Mango Clothing revealed its intentions to expand its board to nine members in March to fortify its corporate governance. This way, it incorporates esteemed figures such as IESE Business School professor Jordi Canals, AZ Capital partner Jorge Lucaya, and Jordi Constans, who serve as directors of various national and international firms.
Furthermore, Mango’s Chief Executive, Toni Ruiz, has acquired a 5% stake in the company. Further, it aligns his interests with the brand’s future trajectory.
Mango’s strategic planning includes enclosing a comprehensive expansion plan and supporting its board. As a consequence, it reflects its determined efforts to fortify its position within the global fashion landscape. Hence, addressing an increasingly diverse clientele across various segments, including Mango men, Mango kids, and their iconic Mango dress.
The article Mango Clothing Plans to Expand with 500 New Store Openings by 2026 appeared first on World Branding Forum.The article Mango Clothing Plans to Expand with 500 New Store Openings by 2026 appeared first on World Branding Forum.