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MANGO increases its turnover in 2010; plans to double it
15
Apr '11
MANGO closed the 2010 financial year with a turnover for the MANGO MNG Holding S.L. Consolidated Group and subsidiary companies of 1.27 billion euros, a figure which represents the retail sales excluding VAT of company-owned stores, plus wholesale sales to franchises. Sales for the MANGO Chain (retail sales excluding VAT) totalled 1.585 billion euros.

Given the major international presence of the brand, 81% of turnover corresponds to foreign markets, and the remaining 19% to the domestic market.

During 2010, MANGO increased its number of stores by 380, which represents more than one new store opening every day: 7 in Spain and 373 in foreign markets. It also consolidated its presence in markets in Eastern Europe, the Middle East and Asia, and entered the markets of Paraguay, Benin, Cameroon, Mauritius and Senegal for the first time.

China and Russia remain a major commitment for MANGO. The chain plans to open 60 stores in China and 40 in Russia, in view of the huge potential for growth in both countries. Europe remains a major target, with store openings in France, Germany, United Kingdom, Italy and Poland, among many others. In South and Central America, MANGO is strengthening its presence with new stores in Argentina, Chile, Peru, Venezuela, Guatemala, Cuba, Mexico, Colombia and Ecuador.

Company turnover from online sales totalled 21 million euros in 2010, an 80% increase on the previous year. Consumers in most of Europe, the United States, Canada, Japan, South Korea, Turkey, China and Russia can now purchase MANGO products over the Internet. Throughout 2011, the company plans to continue its online expansion and double turnover, through its company website www.mango.com and by opening online corners on the best websites throughout Europe and Asia.

The brand remains committed to its H.E. by MANGO menswear range, and now has 113 stores: 39 in Spain and 74 in foreign markets. In 2011, it plans to open approximately 20 stores in countries such as Germany, Belgium, United Kingdom and Hungary, and in regions such as the Middle East and South East Asia. In the next few years, it is forecast that the H.E. by MANGO brand will have 500 stores.

MANGO currently has 10,000 employees throughout the world and more than 2,000 stores in 105 countries. Throughout 2011, the chain is planning to increase its number of stores by 550, and to enter the markets of Guadeloupe, Bermuda, Monaco, Cambodia, Angola, Ghana and Yemen for the first time, which will give it a presence in 109 countries and make it Spain's most international fashion company.

Forecast investment for the Group in 2011 is 135 million euros, which will be allocated to new store openings, store refurbishments, logistics systems and IT systems.

MANGO


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Courtesy: Business wire

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