Mango, the Spanish fashion giant, is set to make a formidable mark in global markets with plans to open 500 new stores by 2026, targeting key locations such as the United States, Canada, France, Italy, the United Kingdom, and India.
Aiming for record-breaking sales this year, the company anticipates a minimum 12% increase over 2022, exceeding 3 billion euros. This surge is attributed to the successful entry into the U.S. markets of Texas, Georgia, and California.
In a strategic move, Mango is doubling its presence in the United States, bouncing back after two previous unsuccessful attempts. Having already inaugurated 130 new stores and revamped 80 in 2023, Mango boasts a total of approximately 2,700 outlets across 115 markets.
As part of its expansion plan, the family-owned retailer is diversifying its board of directors by adding four independent members, notably including Marc Puig, chair of Spanish cosmetics group Puig, which owns renowned brands like Carolina Herrera and Paco Rabane. Mango, founded 40 years ago in Barcelona, is not only broadening its retail footprint but also reinforcing corporate governance by expanding its board to nine members.
Furthermore, Mango's Chief Executive, Toni Ruiz, has personally invested in the company, acquiring a 5% stake. This strategic move underscores the company's commitment to sustained growth and global prominence in the highly competitive fashion industry.
