Mango has big UK expansion plans - report
Spanish fashion retail giant Mango continues to bounce back from some tough times a few years ago and the Uk is a key part of its expansion strategy.
It’s continuing its major store opening plans in Britain, targeting 13 new locations by the end of this year, including Stratford in East London, Manchester, Bristol, and Brighton.
Chief executive Toni Ruiz told The Times: “For Mango, the UK is an amazing market. It’s one of the most important countries for Spain to export products. We are in a lot of cities in the UK, including Oxford Street [in London], but there are many more opportunities there. We have great expansion plans for the UK.”
He added: “It’s not very easy to give a concrete figure on how many stores we would open [after 2023], but I would like to continue with the same number every year for the next three years.”
Last year, Mango opened 270 stores globally, bringing its total count to around 2,600. In the UK it has 53 locations after opening in Dartford, Battersea, and Eldon Square, in the final third of 2022. Thirty-five stores are owned by Mango, while 18 are franchises.
Last year, it reported record turnover of €2.68 billion (£2.33 billion), up 20.3% on 2021 and 13.2% up on 2019. Pre-tax profit grew 26.2% to €103.3 million.
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