Mango expands rapidly in Ireland

Spanish fashion chain Mango is expanding rapidly in Ireland, and is setting record new rent levels in its trail.

Mango currently has three Dublin outlets and is set to open in Cork’s Patrick Street in a former bank premises.

It also is targeting Limerick in the Crescent Shopping Centre, Belfast and shopping centres in both Cork and Dublin.

The company, which has 650 outlets world-wide, is close to finalising a rental deal on the old Bank of Ireland premises on Cork city’s Patrick Street, driving up Zone A rents in the city from current €200 per square foot to a whopping €320 per square foot, almost on a par with prime Dublin rents for Grafton Street and Henry Street.

The rent paid here will stun many other Patrick Street traders, especially those facing rent reviews.

Mango has been negotiating against stiff competition from other fashion retailers for this prime slot.

The bank building, between Roches Stores and the Merchants Quay shopping centre was bought last year by a private Cork investor for well over €5m or over £4m, and planning permission has been sought for a change of use to retail from banking.

In general, Mango operates its own stores and now has few franchise stores, although Fabline Ltd has the franchise for the island of Ireland.

It targets the 15 to 30-year-old fashion conscious female buyer, and Fabline aims to open seven stores here in the next two years.

In Dublin, it is looking at Dundrum and Stillorgan shopping centres, and in Cork in Douglas and the proposed Mahon Point shopping centre.

It is already in Dublin’s Henry Street, the Pavilions in Dun Laoghaire and Liffey Valley.