Mango axes 450 stores in growth plan (yes, you read that right)

Mango

If you thought the expansion of Spain’s fashion retail chains couldn’t be stopped, think again. Mango has confirmed a report that it’s closing 450 doors in the US next year as it ends a five-year deal with JC Penney.

But wait – it’s not the disaster it looks. The in-store shops will close in February following a decision not to renew the agreement that generated only 0.5% of Mango’s global turnover.

It’ll leave the retailer with just seven US stores – for now. Expansion in the US of A is still very much on the agenda. Mango’s seven remaining stores are in key cities such as New York and Miami and it’s in such locations that it plans to open more stores.

So, expect more mega-sized flagships and fewer small shops. That’s a strategy that Primark’s following there too meaning the US is shaping up to be a real battleground for European retailers next year. Watch this space…

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