Barcelona-based Mango is looking to elevate its brand amid a broad U.S. expansion that will include 60 new stores and a new logistics center.
Mango, the privately held Spanish retailer, is in the middle of opening more than 60 new stores in the U.S. as part of a broad expansion plan.
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.
Currently, Mango's largest market is its home base in Spain. While the U.S. is among its top five markets, the company is aiming to grow sales in the region so it can breach the top three. The goal is part of a larger strategic plan at Mango focused on growing sales from about 3.1 billion euros annually to 4 billion euros by 2026.Mango, known for its European chic basics, is looking to reposition itself as a premium brand and signal to consumers that it is not a fast-fashion label.
The company follows a string of other international competitors such as Sweden's H&M, Spain's Zara and Japan's Uniqlo that have turned to the U.S. market for growth. They are all competing to win over the average American household, which spends on average about $2,000 annually on clothes, according to a
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