Friday, March 31, 2023

Mango leads the reverse course of the sector: it is the textile giant that makes the most openings, while Inditex and H&M continue in full business return.

A few weeks ago, Catalan Mango reported that India has become the Asian country with the highest number of points of sale -85-, which will triple its number by the end of 2020.

The group intends to continue down this path in 2023 with the opening of over 35 new points of sale. In total, it is intended to close next year with a network of more than 110 points of sale in the country.

Mango will become the first Spanish fashion giant to publish the full list of its factories

Mango arrived on the Asian continent in 1995, when the company decided to bet on this market by opening stores in Singapore and Taiwan, later adding stores in the Philippines, Thailand, China and India.

Beyond being purely informational, the information confirmed – once again – that Mango continues to pedal in the opposite direction to the clothing industry that continues to fold its business wings.

“We don’t understand the future of fashion without a physical channel”

“We don’t understand the future of fashion without a physical channel,” explained Elena Carasso, the group’s director of online business and customers, during an interview a year ago. Business Insider Spain, The teaching remains intact.

Last November, Mango communicated its intention to reach out to a commercial network close to 2,600 points of sale, And this supported the embodiment of the idea of ​​opening 270 stores around the world.

Broadly speaking, the company’s expansion strategy involves a combination of mature markets, with Europe and the United States at the forefront. In fact, one of the grand openings of Mango in 2022 was its opening on the famous Fifth Avenue.

In fact, Mango forecasts that it will have 40 points of sale in the United States by 2024, and that the country will become one of the top 5 markets in terms of sales for the group. This suggests that, at least for now, mango is not reaching the commercial threshold.

Reverse movement for Inditex or HM

Looking back, the Catalan company has been the textile giant that has increased the number of its stores the most for 5 consecutive years: 417.

It is followed, not far behind, by another Rara Avis In this business detail: Japanese fashion chain Uniqlo, as an analyzed economists, It also adds more stores now than it did 5 years ago: 326 more.

However, the rest of the industry moves in the opposite direction. The American GAP has reduced its number of establishments by 286 over the same period, but it is by no means the only one.

Inditex, owner of brands such as Zara, within the framework of its commercial metamorphosis to achieve sales symbiosis online why offline-launched a store takeover in 2020, which is still ongoing.

Under this idea, the group started planning to close 1,200 establishments, However, this movement was not new. In 2016, it has already closed 705 points of sale. After 2 years, the figure was over 1,400.

In this way, and only since 2018, the Galician group has 1,183 fewer stores. The group closed its last 9 months — its last available accounts — 6,307 stores, 350 stores less than a year ago.

Such is the case of the Swedish H&M, in the annual results and that it has made public this Friday, it is clear that in just one year the group has dropped 336 points. Thus its commercial network stands at 4,465 as on 30 November.

Halfway through is Tendum, the parent company of Cortefil. Yesterday, in the publication of its latest results, it was revealed that its commercial network was seeing a slight growth this time compared to 2021. This increase represents only 3 more stores in 2020 compared to 185 more in 2018. sales.

Nation World News Desk
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