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Mango to focus on Russia and China as turnover rises 11% in 2011

Spanish womenswear chain Mango said turnover increased by 11% in 2011 to €1.4bn (£1.15bn) as it continues to focus on the Russian and Chinese markets.

Reporting its results for its 2011 full-year, Mango said it plans to open a further 80 retail outlets in China and another 30 in Russia because of the “huge growth potential” that exists in both countries.

The retailer said that 82% of its turnover for its 2011 financial year came from foreign markets while the remaining 18% came from its Spanish domestic market.

Online sales during the full-year period soared to a total of €36.2m (£29.8m), representing an increase of 72% on the previous year.

Customers in Europe, the US, Canada, Japan, South Korea, Turkey, China, Russia, Hong Kong, Macao, India, the Philippines and Malaysia can now purchase Mango products online.

Mango has said it plans to continue expanding online in 2012 and wants to double turnover through both its own website, www.mango.com, and by selling through partner websites.

In 2012, the brand will enter the markets of Myanmar and Pakistan, which will give it a presence in 109 countries.

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