Mango will open its flagship store on Fifth Avenue in New York in May.
Spain's fashion brand Mango, one of the biggest players on the European market, is on the verge of expanding internationally. Mango plans to open new stores in Europe, India, and the U.S. until the end of 2024. I particularly expect the retailer to open 30 new stores in the U.S. market over the next two and a half years.
Mango's flagship store of about 200 square meters will open on Fifth Avenue in New York in May. The Spanish brand will then open mono-stores in Miami, Orlando, Jacksonville and Boca Raton, Florida, and expand westward to Texas, Arizona, Nevada and California. By 2025, the company expects the U.S. market to be a key market in its portfolio. However, even today the U.S. business is one of the top 10 priorities for Mango.
It has been reported that the retailer will open 20 new stores in France and 10 in India by the end of 2022, and will introduce a new retail concept inspired by the Mediterranean. The new stores will provide a seamless online-offline shopping experience, and the main focus will be on customer service.
After reaching 42% of sales in its total online revenue portfolio during the pandemic years, the brand is once again betting on physical retail. Online sales for Mango doubled from 2019 to $2.5 billion in 2021.
Mango has only six retail outlets in the U.S. as of yet, while its global network includes about 2,500 stores, reports Business of Fashion. In the past year, the company has opened almost 10 percent more stores around the world.
According to Coresight Research, an increasing number of retailers have directed their investments into opening physical stores in recent years. There are about 3,900 stores scheduled to open in the U.S. during the year, surpassing the number of openings last year.