12 May 2006| Source: just-style.com
hopes to open 300 stores by 2008 as the Barcelona-based women's apparel chain continues to grow its business around the world, Aniko Kostyal, expansion director for central and Eastern Europe, told just-style.
The move fast-forwards Mango's previous plans to open 100 stores this year. In fact, the company will roll out 130 shops in 2006 and even more in 2007 as it muscles into new markets, most notably China and Russia, Kostyal said.
Mango is targeting about 1,550 stores in five years, but that plan (based on 130 store openings a year) is more of a long-term estimate and could change in future, Kostyal cautioned.
She added that Mango will continue to open most new outlets through franchise agreements.
Moreover, Mango expects its first US store to open its doors in the third quarter, Kostyal revealed.
The outlet will be "this year's key international launch" and will be located in a shopping mall outside Los Angeles, Kostyal noted.
Asked about this year's financial outlook, Kostyal said Mango looks set to at least match the EUR1.14bn (US$1.46bn) in sales rung up last year.
Mango has 899 stores currently.