INDIANAPOLIS, Dec. 22, 2020 /PRNewswire/
-- Simon announced its collaboration with Mango and
their expansion strategy in the United
States with the opening of new stores in 2021 that will
feature an assortment of Women's, Men's and Kid's collections.
Mango and Simon are collaborating to open three stores in the
first quarter at Roosevelt Field,
Menlo Park Mall and Dadeland Mall. These centers were
strategically selected in the United
States to jumpstart the expansion of Mango's Mediterranean
brand to the American consumer.
"Mango has been focused on enhancing brand recognition in
the United States with investments
in wholesale and e-commerce distribution," said Daniel López,
Mango's Director of Expansion and Franchises. "The next logical
step is acceleration of our physical presence, which will
materialize with our Simon openings."
"We are excited to introduce Mango to our millions of discerning
customers," said Zachary Beloff,
National Director of Business Developmental, Simon. "Mango is a
globally renowned brand that we believe has a strong
brick-and-mortar future in the United
States."
Mango's commitment to the United
States market, where the brand has had a consistent presence
since 2006, was reinforced in 2017 with the New York's Broadway SoHo store renovation; in
the 2019 wholesale launch in select Macy's flagship stores and
direct-to-consumer e-commerce launch.
About Simon
Simon is a real estate investment
trust engaged in the ownership of premier shopping, dining,
entertainment and mixed-use destinations and an S&P 100 company
(Simon Property Group, NYSE: SPG). Our properties across
North America, Europe and Asia provide community gathering places for
millions of people every day and generate billions in annual
sales.
Forward Looking Statements
Certain statements made in
this press release may be deemed "forward–looking statements"
within the meaning of the Private Securities Litigation Reform Act
of 1995. Although the Company believes the expectations reflected
in any forward–looking statements are based on reasonable
assumptions, the Company can give no assurance that its
expectations will be attained, and it is possible that the
Company's actual results may differ materially from those indicated
by these forward–looking statements due to a variety of risks,
uncertainties and other factors. Such factors include, but are not
limited to: uncertainties regarding the impact of the COVID-19
pandemic and governmental restrictions intended to prevent its
spread on our tenants' businesses, financial condition, results of
operations, cash flow and liquidity and our ability to access the
capital markets, satisfy our debt service obligations and make
distributions to our stockholders; the inability to collect rent
due to the bankruptcy or insolvency of tenants or otherwise;
changes in economic and market conditions that may adversely affect
the general retail environment; the intensely competitive market
environment in the retail industry; changes to applicable laws or
regulations or the interpretation thereof; risks associated with
the acquisition, development, redevelopment, expansion, leasing and
management of properties; the inability to lease newly developed
properties and renew leases and relet space at existing properties
on favorable terms; the potential loss of anchor stores or major
tenants; decreases in market rental rates; the impact of our
substantial indebtedness on our future operations; any disruption
in the financial markets that may adversely affect our ability to
access capital for growth and satisfy our ongoing debt service
requirements; any change in our credit rating; changes in market
rates of interest and foreign exchange rates for foreign
currencies; general risks related to real estate investments,
including the illiquidity of real estate investments; security
breaches that could compromise our information technology or
infrastructure; risks relating to our joint venture properties; our
continued ability to maintain our status as a REIT; changes in tax
laws or regulations that result in adverse tax consequences;
changes in the value of our investments in foreign entities; our
ability to hedge interest rate and currency risk; changes in
insurance costs; the availability of comprehensive insurance
coverage; natural disasters; the potential for terrorist
activities; environmental liabilities; the loss of key management
personnel; and the transition of LIBOR to an alternative reference
rate. The Company discusses these and other risks and uncertainties
under the heading "Risk Factors" in its annual and quarterly
periodic reports filed with the SEC. The Company may update
that discussion in subsequent other periodic reports, but except as
required by law, the Company undertakes no duty or obligation to
update or revise these forward-looking statements, whether as a
result of new information, future developments, or otherwise.
About Mango
Mango was founded in 1984 and is today one of the leading
fashion groups in the world. Based in its city of origin,
Barcelona, the company has an
extensive store network of 803,000
m2 in 110 countries. From its "El Hangar" Design
Centre in Palau-solità i
Plegamans, every year it designs more than 18,000 garments and
accessories for wearing the season's trends. The company closed
2019 with sales of 2.374 billion
euros, of which 24% corresponded to e-commerce. More
information at www.mango.com
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SOURCE Simon