MADRID — Mango, the Spanish specialty chain, reported today a 20 percent jump in turnover for 2012 — to 1.69 billion euros, or $2.21 billion at current exchange rates. Foreign markets accounted for 84 percent of the total, the company said.
With 2,600 stores in 107 countries, Mango opened 197 stores worldwide last year including 17 domestic units and 180 international locations. New retail markets included Burma and Pakistan.
For this year, the brand will strengthen its global reach through a new “megastore” format of from 8,611 to 32,292 square feet that will house the company’s five chains — Mango, H.E by Mango (mens’s), Mango Touch (accessories), Mango Kids and Mango Sport & Intimates. The Barcelona-based firm said it will open additional stores this year in Europe, the group’s biggest taker, specifically in Spain, Germany, France, Holland and Italy, as well as Poland and Russia. In addition, the brand’s largest store, stretching over 32,000 square feet., will rollout in Ankara, the Turkish capital, and the label will debut in such emerging markets as Angola, Zimbabwe and Mongolia.
On tap too is South America, where Mango “is implementing a broad plan of expansion” particularly in Chile and Peru, where 32 and 24 stores are planned, respectively, according to a corporate statement. Also on the drawing board are store openings in the Middle East, Southeast Asia and former Soviet Union countries.
With online sales of 70 million euros ($92 million) last year — a 93 percent increase over 2011 — the group’s digital store network grew to 46 countries with double turnover and online expansion in Asian markets and the Middle East expected for 2013.
By year’s end, Mango plans capital expenditures to reach 265 million euros, or $347 million, for retail openings, renovations, distribution centers and information systems.