Mango hopes to open up to 300 stores a year in China

Write: Bhima [2011-05-20]

Mango aiming for one new store opening a day

From: Reuters

Spanish retailer Mango is aiming to open a store a day worldwide with 200 or 300 stores a year in the fast-growing Chinese market alone, its founder and chairman was reported as saying by financial daily Expansion last Tuesday.

"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," Isak Andic told a magazine run by business school IESE.

"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 is one of the best-known Spanish labels abroad after Zara, owned by rival Inditex. Like its listed rival, Mango has expanded outside its home market Spain which has experienced a sharp slowdown with one in five Spaniards unemployed.

Its aim this year was to open 200 new stores. The company has more than 1,400 stores in about 100 countries.