Mango targets North America for growth
Fashion retailer plans 25 stores
Spanish fashion retailer Mango is launching into the North American market with the opening of five stores in Canada next year.
The womenswear retailer, which already operates around than 755 stores in 73 countries, said it will make its entry into North America early next year, with five stores opening in Toronto and Montreal during the first quarter of 2005.
Mango plans 25 more stores in Canada over the next five years. The retailer also hopes to open in the US across the same timescale, but has not given details of numbers or timing.
Isak Halfon, executive vice-president in the expansion departmentsaid: “Since the beginning, Mango has wanted to be present in all the most important cities of the world. Montreal and Toronto have always been a priority which has finally been fulfilled.”
Mango has chosen Canada as a port of entry into North America, because of its market potential as well as its affinity with Europe.
Mango turned over more than €1bn in 2003, with 73 per cent generated outside Spain. The company opened more than 100 stores during 2003 and expects to have having exceeded this by the end of this year.
