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Spanish retailer Mango is embarking on a bold expansion plan in the U.S. as it looks to shed its fast-fashion image and position itself as a premium brand. "We have also the opportunity to have bigger stores in the U.S.," he noted, adding Mango will open some multiline stores that feature men's and kids' items. Mango's sales grew more than 10% in the U.S. this year and the company expects to see double-digit growth again next year. The goal is part of a larger strategic plan at Mango focused on growing sales from about 3.1 billion euros annually to 4 billion euros by 2026. We also have 500 people taking care of the product from end to end," said Ruiz.
Persons: Toni Ruiz, Ruiz, Spain's Zara, Japan's Organizations: Sun, CNBC, D.C Locations: U.S, Barcelona, Los Angeles, Mango's, Spain, Pennsylvania, Washington, Massachusetts, Europe
Spain's Mango plans U.S. expansion after China retreat
  + stars: | 2023-03-14 | by ( Corina Pons | ) www.reuters.com   time to read: +2 min
BARCELONA, Spain, March 14 (Reuters) - Spanish fashion retailer Mango is focusing on U.S. expansion after turning its back on China, Chief Executive Officer Toni Ruiz said. It will target states where online sales are already strong. It maintains four franchise outlets and online sales through Alibaba's Tmall e-commerce platform. Mango reported record sales last year, helped by selling more items at higher prices. Its biggest rival, Inditex-owned label Zara (ITX.MC), is expected to report record sales on Wednesday, partly due to its aggressive U.S. expansion.
NEW YORK, Dec 27 (Reuters) - U.S. prosecutors have filed criminal charges of commodities fraud and manipulation against a man accused of trying to steal about $110 million in October by rigging the Mango Markets cryptocurrency exchange. Eisenberg was arrested on Monday night in Puerto Rico, U.S. Attorney Damian Williams in Manhattan said in a court filing. Mango is a decentralized cryptocurrency exchange run by Mango DAO that lets investors lend, borrow, swap, and use leverage to trade cryptocurrency assets. Mango soon began negotiations with Eisenberg and reached a settlement to recoup $67 million. The case is U.S. v. Eisenberg, U.S. District Court, Southern District of New York, No.
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