Spanish fashion company Mango is set to increase its presence in India by adding more stores and expanding its product categories. With India being one of its key international growth markets, Mango aims to tap into the country's changing retail landscape and growing demand for western wear. This move comes as Mango competes with other global brands such as H&M and Zara, which have already established a strong presence in the Indian market.

Expanding Store Network and Product Categories:

Mango plans to continue its expansion in India by opening more flagship stores in both metro and non-metro cities. Currently, Mango has three flagship stores in the country, and the company aims to increase this number in the coming years. In addition to expanding its store network, Mango also plans to carve out its men's and kids' wear segments, catering to a wider range of customers.

India as a Promising Market:

According to Daniel Lopez, the director for franchises and expansion at Mango, India is the largest country in the Asia-Pacific region for the brand. Mango sees great potential in India due to the rapid changes in society, the increasing acceptance of western wear, and the evolving retail opportunities and infrastructure. With its vision to be present in major markets worldwide, Mango considers India as one of the most attractive markets for future growth.

Competing with Global Brands:

Mango faces competition from other global fashion brands, including H&M and Zara, which have gained a strong foothold in India's retail landscape. These brands have successfully catered to the aspirations of young consumers who are keen on experimenting with their wardrobes and embracing international fashion trends. Mango aims to capitalize on this trend and position itself as a preferred choice for fashion-conscious Indian consumers.

Future Growth Plans:

In line with its growth strategy, Mango plans to open 500 new stores globally by 2026, including markets like the US, Canada, France, Italy, and the UK. In India specifically, Mango aims to add 10 new stores this year, taking its total store count to 120. The brand has experienced a significant boost in online sales through its partnership with Indian retailer Myntra, and it intends to further leverage its online presence to drive growth.

Challenges and Real Estate Expansion:

One of the challenges Mango faces in expanding its store network is the availability of quality real estate. The company emphasizes the need for strategic planning in securing suitable locations for its stores. Mango has already established flagship stores in high street locations like Bangalore, Mumbai, and Ludhiana, and it aims to continue expanding in similar prime locations across the country.

Mango's plans to expand its presence in India by adding more stores and product categories reflect the brand's commitment to tapping into the country's growing demand for western wear. With India being one of its key growth markets, Mango aims to capitalize on the changing retail landscape and leverage its strong online presence to drive sales and establish itself as a leading fashion brand in the country. By continuing its expansion and catering to the evolving fashion preferences of Indian consumers, Mango is poised for significant growth in the Indian market.