The Spanish retail giant opened 221 new stores last year, reaching a total store portfolio of 2,447, a near 10 percent increase on 2020. Its latest opening is a colossal space on Manhattan's Fifth Avenue, formerly occupied by Ralph Lauren. Compare this to Zara parent Inditex, which last year shuttered over 1,000 stores in a bid to focus on online sales.
According Economía Digital, Mango’s exponential rate of expansion also saw it launch a new sportswear line, enter the homeware category and debut its Alter Made brand, which focusses on sustainability and a premium-made product.
Despite lockdowns and anti-Covid restrictions impacting the bottom line of brick and mortar, Mango is firm in the importance of physical retailing and plans to surpass 2019 revenue by the the end of the fiscal year. That includes a projection of one billion euros in online revenue.