Kate Moss for Mango (s/s 2012)
11 Apr. 2012
MANGO TO ENTER MYANMAR & PAKISTANSpanish fashion brand Mango closed the 2011 financial year with a turnover of €1.4 billion for the Mango MNG Holding S.L.U. Consolidated Group and subsidiary companies, a figure that corresponds to R.R.P. sales excluding VAT for company-owned stores, plus wholesale sales to franchises. This represents an 11% increase in turnover over 2010.
Given the major international presence of the brand, 82% of turnover corresponds to foreign markets, and the remaining 18% to the domestic market.
During 2011, Mango opened 644 stores throughout the world, eight in Spain and 636 in foreign markets. In addition, the chain consolidated markets in Eastern Europe, the Middle East and Asia, and entered the markets of Bermuda, Monaco, Guadeloupe, Kyrgyzstan, Sri Lanka and Cambodia.
China and Russia remain a major commitment for Mango. The chain plans to open 80 retail outlets in China and 30 in Russia, given the huge growth potential that exists in both countries. Europe continues to be a major target, with openings in France, Germany, United Kingdom, Italy and Poland, among several other countries. In South and Central America, Mango is consolidating its presence with new stores in Argentina, Chile, Peru, Venezuela, Guatemala, Mexico, Colombia, the Dominical Republic and Ecuador, and in the Middle East, where it will open new stores in countries such as Qatar, Kuwait, Saudi Arabia and Iran.
Company turnover for online sales during 2011 totalled 36.2 million euros, which represents a 72% increase on the previous year. Users in much of Europe, United States, Canada, Japan, South Korea, Turkey, China, Russia, Hong Kong, Macao, India, the Philippines and Malaysia can now purchase Mango over the Internet. During 2012, it plans to continue expanding online and to double turnover, through its own website and by opening further online concessions worldwide.
Mango currently has 11,000 employees worldwide and more than 2,400 retail outlets in 107 countries. In 2012, the brand will enter the markets of Myanmar and Pakistan, which will give it a presence in 109 countries, making it Spain’s most international fashion brand.
Forecast investment for the Group in 2012 is 140 million euros, which will be allocated to new store openings, store refurbishments, logistics systems and IT systems.
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