Spanish retailer Mango to open 60 new U.S. stores as it looks to elevate the brand
Spanish retailer Mango is embarking on a bold expansion plan in the U.S. as it looks to shed its fast-fashion image and position itself as a premium brand.
Spanish retailer Mango is embarking on a bold expansion plan in the U.S. as it looks to shed its fast-fashion image and position itself as a premium brand.
The privately held company, headquartered in Barcelona, plans to open 42 new storefronts in the U.S. by the end of the year and aims to launch 20 more in 2025, primarily in the Sun Belt and Northeast, Mango CEO Toni Ruiz told CNBC in an interview.
The $70 million expansion plan includes a new logistics center outside of Los Angeles and about 600 new jobs, bringing the company’s U.S. headcount to about 1,200 employees by next year.
“This is a long-term commitment,” Ruiz said. “We have also the opportunity to have bigger stores in the U.S.,” he noted, adding Mango will open some multiline stores that feature men’s and kids’ items.
Mango’s sales grew more than 10% in the U.S. this year and the company expects to see double-digit growth again next year.
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