Barcelona: Despite economic uncertainty that have shaken some other international mass-market clothing giant, the Spanish fashion store Mango, which was established 40 years ago in Barcelona, is ramping up its international expansion.
The family-owned business has recently opened some large stores around the world following a slowdown brought on by the COVID- 19 pandemic.
They include a 400-square-meter room in Los Angeles, a similar-sized place in Manchester, England, and a premier shop in Bengaluru, India’s tech hub.
Cesar de Vicente, the company’s worldwide financial director, told AFP in an interview that Mango has opened 115 businesses overall over the past year, primarily in the United States, where its sales have tripled.
Compared to almost 6, 000 international for Zara-owner Inditex, Spain’s other successful clothing financial success story, it has more than 2,700 stores in over 115 places.
As Mango announced its yearly results on Monday, De Vicente told AFP as he stood in front of prototypes of new clothing at the sprawling headquarters in a Barcelona suburb in front of more than three billion euros ($ 3.3 billion ) in sales, which is a record.
The textile party, which employs 500 stylists, creates and tests its coming choices in this tower, known as the” campus.”
The business annually sells roughly 160 million clothes and accessory sales.
Diplomats with stars
Isak Andic, a young man of Greek descent, helped his older brother Nahman, who had helped him open his first purchase on Barcelona’s famous shopping street Paseo de Gracia, which was incredibly successful.
Users in Spain were looking for more contemporary clothing as they came out of a decades-long dictator that ended with General Francisco Franco’s passing in 1975.
De Vicente claimed that “he saw that we needed color and style.”
Andic rapidly expanded its product line to include lots of more locations in Spain and then overseas, starting with the country’s neighboring Portugal and France, all under the brand name Mango.
For its advertising campaigns, the company has hired big stars like English design Kate Moss, Spanish celebrity Penelope Cruz, and European football player Antoine Griezmann to help boost sales.
Like its primary local rival Inditex, the world’s largest style retailer whose another store brands include Bershka and Pull&Bear, Mango tries to quickly change its production to the most recent fashion trends while offering economical prices.
Because they “develop at the same time,” the two groups “have some similarities,” according to Marcel Planellas, a professor of approach at the Barcelona company school Esade.
Mango only operates under one company, and it does not possess any factories. He explained that outsourcing its production is primarily to lower-cost regions of Turkey and Asia.
500 brand-new businesses
The business, which has around 14, 000 employees and aims to stand out from low-cost companies like Shein and Primark by accelerating its move premium, will release its new corporate strategy on Monday along with its quarterly results.
It is expected to confirm its international ambitions, with 500 brand-new businesses planned by 2026.
According to De Vicente, these openings will most likely take place in the United States, the UK, and France, which is the party’s second-largest industry after Spain.
This dynamism contrasts with the slowness of the sector in Europe, where European retail clothing business Camaieu, a French dealer that produced and sold its own selections of women’s apparel, shut down at the end of 2022 and US retailer Gap closed its doors.
Planellas, who predicts the company does listing on the property market in the upcoming years as Inditex did in 2001, described Mango as having a” good position” in contrast to some of its rivals.