generic Mango Ramps Up North American Expansion
Mango, the Barcelona-based fashion retailer, has partnered with the Fox Group to open at least 20 stores in Canada over the next 10 years.
Phase one of the expansion calls for the Fox Group, an Israeli retailer that manages brand stores around the world, to open six Mango stores in Toronto in the 2022 to 2023 period.
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The Canadian expansion targets prime shopping streets and shopping malls, as well as growing the online business. Mango already operates shops inside the Hudson’s Bay department stores, where it has 50 points of sale, and it also sells in Canada via the Hudson’s Bay and Mango websites. The company began its alliance with Hudson’s Bay in 2019.
In its announcement Wednesday, Mango indicated that its agreement with Fox will last for at least a decade. Fox Group manages about 1,000 stores around the world, including 47 Mango stores in Israel, and is listed on the Tel Aviv Stock Exchange. Mango operates company-owned stores and has licensed units around the world. “Fox Group is part of the Mango ecosystem of partners, which is constantly looking for the best local partner in order to adapt to the requirements and characteristics of each market,” Mango stated.
Mango’s expansion plan in Canada is part of the company’s strategy to grow in North America. Last May, the company opened a flagship store at 711 Fifth Avenue in New York City as part of a plan to open more than 30 stores over the next three years in the U.S., bringing the total in the States to 40.
For the U.S., Mango is focusing on Southern states and such cities as Miami, Boca Raton, Orlando and Tampa in Florida, where the company expects its colorful, Mediterranean-influenced fashions will be popular. The company will, by the end of the year, open three stores in the Miami area, including on Lincoln Road in Miami, in the Aventura Mall and in the Miami International Mall.
Beginning in 2023, the company will continue to expand westward by targeting the opening of stores in Atlanta; Phoenix and Tucson, Ariz.; Houston and Dallas; Las Vegas, and Los Angeles, San Diego and San Jose, Calif.
Last year, Mango generated 2.2 billion euros in volume and a net profit of 67 million euros, after losing money in the pandemic-riddled 2020.
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