Mango accelerates US expansion, eyes over 15 new stores in 2023

Spanish fashion retailer Mango is continuing its global expansion with the announcement it plans to open the doors of at least 15 new stores in the US this year.

The company is eyeing locations in key cities including LA, San Diego, Houston, Dallas, San Antonio, and Atlanta. The physical expansion will also be accompanied by “a strong drive in online sales”, Mango said.

It will also mark the company’s first foray in the states of Georgia, Texas, and California.

It comes after Mango last year announced an ambitious growth strategy in the US, which includes plans for a total of 40 new stores by 2024, and for the country to be one of the group's top five biggest markets in terms of turnover.

This latest announcement marks the one year anniversary of Mango opening its flagship store on New York’s Fifth Avenue.

US ‘key market’ for Mango

Commenting on the news in a release, Daniel López, Mango’s director of expansion and franchises, said: “The opening of over 15 new Mango stores in 2023 represents a significant step forward for Mango to achieve its expansion targets in the US, one of the key markets for the company in the coming years, and will allow us to strengthen our brand presence in the country.”

The news comes as Mango continues to grow rapidly. The company in March posted record 2022 annual turnover of 2.69 billion euros, up 20.3 percent from a year earlier, and up 13.2 percent compared to pre-Covid 2019 levels.

Meanwhile, its pre-tax profit for the year increased 26.2 percent to 103.3 million euros, and its net profit rose 20.9 percent to 81 million euros.