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Apparel retailer Mango eyes Russia, China for growth
16 Apr '12
1 min read
Spanish apparel retail chain Mango plans to open 30 and 80 new retail outlets in Russia and China, respectively, to further tap the potential of these markets.
With continued focus on the Eastern hemisphere, Mango's profit for the financial year 2011 grew to € 1.4 billion, which is a year-on-year rise of 11 percent.
According to the retail chain, around 82 percent of its turnover in 2011 was contributed by overseas markets, while the remaining came from the domestic market.
Mango's online sales grew to € 36.2 million or £ 29.8 million last year, rising at a year-on-year rate of 72 percent.
Besides other factors, a well developed logistics system too plays a significant part in the company's success. The logistics system devised by the retailer in 2000 facilitates classification and distribution of 30,000 apparels per hour.
Established in 1984, Mango now operates with 8,600 employees, with 1,850 of them working at the Hangar Design Centre and at its Barcelona based headquarters.
With continued focus on the Eastern hemisphere, Mango's profit for the financial year 2011 grew to € 1.4 billion, which is a year-on-year rise of 11 percent.
According to the retail chain, around 82 percent of its turnover in 2011 was contributed by overseas markets, while the remaining came from the domestic market.
Mango's online sales grew to € 36.2 million or £ 29.8 million last year, rising at a year-on-year rate of 72 percent.
Besides other factors, a well developed logistics system too plays a significant part in the company's success. The logistics system devised by the retailer in 2000 facilitates classification and distribution of 30,000 apparels per hour.
Established in 1984, Mango now operates with 8,600 employees, with 1,850 of them working at the Hangar Design Centre and at its Barcelona based headquarters.
Fibre2fashion News Desk - India
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