Mango is to expand into Washington D.C. and Pennsylvania in 2024 with new store openings.
The company, which in 2024 is celebrating 40 years since its story began with the opening of its first store in Barcelona's Paseo de Gracia, says record sales growth has come from double-digit growth and the positive performance of all channels, including the online channel.
During 2024, Mango will promote various initiatives that will increase the stability and solidity of the Group, such as the presentation of its 2024-2026 Strategic Plan in March. The new roadmap will focus on strengthening its differentiated value proposal, commitment to innovation and sustainability, and driving sales through the major expansion of its store network and the growth of all its channels.
Consequently, until 2026 the company will implement an ambitious expansion plan, with close to 500 new store openings, focusing its efforts on key markets such as the United States, Spain, France, Italy, the United Kingdom, India and Canada.
Throughout 2023, Mango has expanded its online sales to twenty new countries to exceed 110 markets worldwide and has consolidated its commitment to its physical channel with over 130 net store openings and 80 store refurbishments since the start of the year, to reach 2,700 points of sale in over 115 markets worldwide. This year, for the first time the company has entered the states of Texas, Georgia and California (United States), a country in which it has approximately twenty points of sale
Washington D.C, Pennsylvania store expansion
Mango will open four stores in Washington D.C., marking the company's debut in the district. The flagship store plans to offer a diverse range of Women and Men lines nestled in the heart of the Downtown shopping district.
Additionally, Mango will establish its presence in key shopping centres, including Tysons Corner Centre, Westfield Montgomery, and Pentagon City, with dedicated spaces for the Woman line.
Pennsylvania's largest shopping destination, the King of Prussia shopping centre, will host Mango's exclusive Woman line.
Daniel López, Mango’s director of expansion and franchises said: “After the excellent reception of Mango in New York and Miami and the recent arrival in Texas, Georgia and California, we are very excited to bring the brand experience physically for the first time in Washington D.C. and in Pennsylvania as part of our ambitious development plan for the coming months in the US, one of our key markets in the coming years.”
Leadership update
Mango also announced changes to its corporate governance structure and leadership consolidation.
In 2024 the company will strengthen its corporate governance with the enlargement of its Board of Directors which, from March, will increase its composition from four to nine members.
Mango is also reinforcing its stability and long-term project by opening up its share capital to the company's CEO, Toni Ruiz, who from this December will become a Mango shareholder, with 5% of the share capital.
Mango founder, Isak Andic, said: “Toni Ruiz is a director who is admired both internally and externally. He is an excellent professional and an excellent person, a quality that for me is fundamental in the management of a company. His entry in the share capital of Mango is a recognition for his outstanding management of the company in recent years, which has translated into excellent results, but, above all, represents my strong belief that his vision will contribute to the continuance, solidity and growth of Mango in the future”
