Mango resigns from China, moves to India to grow in Asia | Companies

Mango It puts India at the center of its international development strategy. Catalan textiles will prioritize its presence in the country in the coming months, transforming it into an Asian market.

The mango opening ceremony will take place in the first half of this year 10 companies In that country. It will work hand in hand with its local partner Myntra to promote its Indian business through e-commerce since 2014 and later through the physics expansion program.

These new openings are planned in cities like Mumbai, Chennai, Delhi or Bangalore and will reach new cities like Indore, Chandigarh and Bhopal. One of the highlights of the event is the Mumbai Palace Shopping Center, which occupies 250 square meters of space dedicated to the queue for women.

The mango is reached by these 10 openings 56 stores In India, it will surpass other countries like Saudi Arabia, Israel or the Philippines, become the country with the largest number of companies in Asia and one of the largest companies outside Europe.

The growth of the textile industry in the country is astounding. In 2018, it had 12 stores and was ranked twelfth in the list of countries with the most stores in the Asian region. By 2020 that number will have risen to 28, up from 46 last year, and ten will now be added.

Possible

Mango illustrates this commitment to India “Great growth potential”According to forecasts released by the International Monetary Fund in January, its economy will grow by 9% this year and 7.1% by 2023.

“Economic growth is boosting consumption, including fashion,” they say from the textile industry, thus making the market “one of the strategic growth markets for years to come”. This semester 10 openings will not be the last, it will always be hand in hand with Myntra.

“The goal is to make this one of our key markets and work hand in hand with local partners.” Mango insists.

Withdrawal in China

With the difficulties of all textiles in China, the company did not link its commitment with India to the fact that restrictions are common to control the country and the epidemic, which still borders foreign visitors.

But the truth is, as it opens up more openings in India, Mango is reclaiming positions in the Asian company. By the end of 2021, cities such as Beijing, Yantai, Hohhot and Jihai already had only six body stores. Of these, three are owned and operated by three local partners.

This withdrawal has continued in recent years. By the end of 2020 it had 12 stores, five less than the previous year. 26 in 2018, 38 in 2017, and 55 in 2016. In other words, in the last five years mango has reduced its presence in almost 50 companies in the mainland of China, excluding Taiwan or Hong Kong. Now, the focus returns to the other giants on the continent.