Mango is launching internationally the first accessories-only stores, called Mango Touch, after a successful test at a location in a Madrid shopping center, La Vanguada. The first stores outside Spain are about to open in Toulouse and Cannes, France, and in Kaliningrad, Russia. Designed in-house, shoes already represent about 5 percent of sales in the 1,000 company-owned and franchised Mango stores around the world. The will represent between 30 and 50 percent of sales at Mango Touch, and they will comprise some exclusive styles. Handbags, scarves, jewelry and sunglasses will also be offered in these stores.
Acting through various funds, Apax Partners has acquired an unspecified minority stake in Groupe Royer, the French footwear trader and licensee who bought the global rights to the Kickers brand (excluding Italy) last month (see previous issue of Shoe Intelligence). The equity investment firm, which manages assets of more than €2 billion, has already held stakes in major French fashion-related operations such as Aigle or Morgan. According to French reports, Royer had a net profit of nearly €20 million last year on sales of €150 million, and paid close to €100 million for Kickers. The acquisition takes Royer’s direct sales up to €210 million and the group would like to double that figure in five years’ time, raising from 30 to 50 percent the turnover generated in France.