Spanish fashion group Mango wants to bring all of its fashion lines together in huge "family stores". The current store types, usually found in cities, will not disappear, as these megastores will merely be a new type of store, meant to triple the turnover in five years.
New formula will also be coming to Belgium
The Spanish group’s “family stores”, ranging up to 3,000 sqm, will offer all collections: its ladies' line, men’s line HE by Mango, the accessory line Mango Touch and its new children, sports and underwear lines. Additionally, Mango will be introducing a new line by February: Violetta, geared towards the larger sizes.
By the end of 2014, Mango aims to have some 200 family stores, especially in Europe. Within ten years the group hopes to have caught up to Zara. By the end of this year, thirteen family stores should have opened, with the first opening this month in Munich.
Barcelona, Bilbao, Paris and Dutch Maastricht are up next, with Luxembourg, Russia, Italy, Norway, Poland and Belgium also getting such a megastore. Mango has allocated 256 million euro this year, specifically for this project.
Goal: turnover of 5 billion euro
"We ended last year with 1.7 billion euros in sales. Our idea is to have a 5 billion euro turnover within the next four to five years”, vice president Daniel Lopez stated ambitiously. Mango aims to achieve this goal by further expanding the current store formulas, helped by organic growth and the new “family store”. Another three HE by Mango stores will be built in Germany, with another 5 Mango Kids in Spain and Germany.
At this point, Mango has over 2,600 stores in 107 countries, generating 84 % of its turnover outside of Spain.