CHINA: Mango plans major global push with one shop opening every day

CHINA: Mango plans major global push with one shop opening every day

Spanish fashion retailer Mango is planning to take on rivals such as Inditex and H&M by opening a store a day worldwide and rapidly ramping up its expansion in China.

Founder and chairman Isak Andic told financial magazine Expansion on Tuesday that it would also open between 200 and 300 stores a year in China.

“Our aim is to end up opening a store a day and to do that we are travelling to China where some companies are opening up to 500 sales points a year,” Andic told the magazine.

“We are going to learn what they do in order to accelerate our growth in China, not to 500 but, yes, to 200 or 300 annual sales points.”

Mango currently has more than 1,400 stores in 100 countries.

The retailer is also eyeing growth via the web with plans unveiled last week to double its internet sales this year.

It wants to double global turnover from the web from the €11.7m (£9.7m) it achieved in 2009.

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Added: August 10, 2010 Source: Retail week
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