Mango expands presence in Florida with new store in Aventura Mall
The Spanish company is stepping up its expansion plans in the American market. On Friday, November 25, Mango opened a new store in Florida, more specifically in the Aventura Mall, one of Miami's leading shopping malls.
With a 400-square-meter surface area and featuring the brand's new Mediterranean-inspired store concept, the establishment will retail the brand's women's collections and will create 25 jobs. In keeping with the sustainable initiatives of the company headed by Toni Ruiz, the store incorporates environmentally friendly materials in its décor and furniture. The new store will thus be part of the shopping center's extensive range of stores, joining other 300 brands and a wide range of restaurants.
"This new store opening allows Mango to continue expanding in the United States, a key market for the company and one of the most important in the fashion industry. We wish to strengthen our presence in the country with the opening of new stores before the end of the year," said Mango's director of global expansion, Daniel Lopez.
The store opening is part of the company's expansion plan in the American market, where Mango first landed in 2006. Last May, the inauguration of its first store on Fifth Avenue marked a significant turning point in this project. The Barcelona-based company's goal is none other than to reach 40 points of sale in the country by 2024. By then, the United States should have positioned itself among the five countries with the company's highest turnover.
Online channel to account for 70% of U.S. sales by 2024
To this end, Mango is not only developing its network of physical retail stores, but also plans to drive the activity of its own online stores, as well as of other marketplaces, such as Nordstrom and Macy's. According to the company, the digital channel accounted for more than half of sales in the region during the first nine months of the year. By 2024, e-commerce should account for 70% of U.S. business.
In the state of Florida, Mango opened a store in the well-known shopping street Lincoln Road last October. To date, the company operates three stores in the region and plans to open two more within the next two months at the Florida Mall, located near Orlando International Airport and the Walt Disney World Resort theme park, as well as another store at Miami International Mall, located near Miami International Airport.
Over the next year, Mango will continue to expand in Florida with store openings in cities such as Boca Raton. The company also aims to expand its presence in the U.S. by opening stores in Georgia, Texas and California.
The brand currently operates eight points of sale in the U.S., including stores in Roosevelt Field and SoHo, New York; Menlo Park and American Dream, both in New Jersey; Dadeland and Lincoln Road, in Miami (Florida); and two more stores in Puerto Rico.
Founded in 1984, Mango expects to close 2022 with almost 2,600 points of sale worldwide. Currently present in 115 markets, the brand recorded a 25% increase in turnover in the first half of the current fiscal year to 1.21 billion euros.
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