[Update as of 3/13/2024] Mango has provided more details about its brick-and-mortar expansion plans. After adding a net-new total of 130 stores and performing 80 refurbishments in 2023, the Barcelona-based chain now has nearly 2,700 stores in 115 countries. Mango’s plan is to open an additional 500 stores by 2026, including 30 in the U.S., according to Reuters, with the goal of making it the retailer’s third-largest global market. Approximately 20 of the 2023 store openings were in the U.S.
Original story begins:
On the heels of its 40th anniversary, Mango Fashion Group has revealed plans to open 500 new stores in key markets, including Canada, France, the UK and U.S., through 2026. India, Italy and Spain are the other store “homes” planned for the coming years.
Mango reaffirmed its focus on physical retail in its 2024-2026 Strategy — a broad vision and roadmap for growth that includes a refined value proposition, digital expansion plans, executive leadership updates and more. Brick-and-mortar was a key growth driver for the brand in 2023: it opened more than 130 new stores and refurbished 80 locations over the past year, reaching a total of 2,700 locations in more than 115 markets worldwide. Mango also entered three new U.S. states — California, Georgia and Texas — in 2023.
Sustainability Comes into Fashion
Double-digit growth is on the horizon for the 2023 fiscal year, largely thanks to Mango’s focus on international ecommerce. The company expanded online to 20 new countries in 2023, bringing its total presence to 110 markets worldwide. In 2022, 36% of its business came from online channels. Mango plans to continue its growth trajectory by investing further in its international ecommerce presence.
To improve brand equity and loyalty among its increasingly global customer base, Mango also is building on its value proposition, which combines design, style and quality. In fact, the company is doubling down on the “quality” piece by launching Capsule, a new events collection for women. In addition, Mango is further investing in sustainability, starting with a new denim collection designed with circularity criteria.
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