Spanish Mango adds more stores and categories in India

New Delhi :Spanish fashion company Mango has increased its sales presence in India from 10 locations in 2018 to 110 locations today, and plans to continue expanding at a similar pace in the coming years. Daniel Lopez, the company’s director of franchise and expansion, said the company plans to carve out the men’s and children’s wear segments and open more flagship stores (currently three) in metropolitan and non-metropolitan areas. That’s what it means.

Mango competes with brands such as H&M and Zara. Mr. Lopez said in an interview that India is one of the key international growth markets and the leading country in Asia in terms of number of stores.

“In APAC (Asia Pacific), India is the largest country so far. There are other markets in APAC that are very promising for us. We are very active in markets like Thailand, Malaysia, Singapore and Indonesia. India is a unique market, with rapid changes in society, customer acceptance of Western clothing, and changes in retail opportunities and infrastructure that will position India for many years to come. “We are a brand with a vision to be present in key markets around the world,” he added.

During December, Reuters Mango reported that it plans to open 500 new stores by 2026 in markets including the United States, Canada, France, Italy, and the United Kingdom.

Lopez said the brand will continue to grow at the same pace as the past few years.

“For us, this is just the beginning of the journey. We only have 5-6 Mango Man stores and a few stores for children. The Indian market is doing well socially and economically. So we’re very bullish,” he said, adding that the company has “zero” plans to slow down. The company sells men’s clothing through his Mango Man retail format.

Recently, foreign Western clothing brands have come to dominate the Indian retail industry. For example, Zara, a fashion brand run by Tata’s Torrent, reported the following revenues in the last financial year. INR255.4 billion in India. Swedish retailer H&M has increased its 2023 sales in India by 40%. INR296 billion. Meanwhile, Vedant Fashions Ltd sells ethnic wear under brands like Mohey, Twamev and Manyavar. INRAccording to the company’s annual report, sales for fiscal year 2023 are 1,325.96 million.

Pakhi Saxena, head of retail and consumer products at Wazir Advisors, said Western brands are responding to ambitious young consumers who want to experiment more with their wardrobes and buy more brands. He said he was there. This has also given rise to her homegrown Western clothing brands and formats, she added.

Mango plans to add 10 more stores in India this year, bringing the total number of stores in the country to 120. According to online retailer Myntra, which holds the master franchise rights for Mango’s online and offline operations in India, the brand has reported a 50% increase in sales.However, Mr. Lopez said the store expansion will find quality real estate. He added that there would be consequences.

“Right now, we have no visibility on real estate availability. Real estate is a market where you can plan for the next six to 12 months. Last year, we started opening our flagship stores. Currently, we have them in Bangalore, Mumbai and Ludhiana, which are high-road locations with all routes,” he added.

Top-selling categories in India include dresses, T-shirts, tops, jeans, and handbags.

Founded in Barcelona in 1984, Mango ended 2022 with sales of €2.688 billion. His 36% of business comes from online channels, with a presence in over 115 markets.

The company has been in India since 2001 and was partnering with big brands back then. In 2011, we partnered with DLF Brands to expand our footprint in India and open new stores.

In 2014, the company partnered with Flipkart-backed Myntra for online business in India. And in 2017, Myntra’s business-to-business wholesale unit acquired master franchise rights to open offline stores as well as expand the brand’s online presence in India. Mango is sold online only through Myntra in India.

This made India one of the first markets where the brand deployed an ‘omnichannel’ strategy. The company also began selling men’s clothing around that time, along with a variety of children’s clothing.