The closure of the last store operated by the Spanish fashion firm Mango in Brazil, scheduled for next week, is a "fact," personnel at the company's Barcelona headquarters told Efe.
The cause of the closure is that Brazil continues to maintain very protectionist measures to limit the importation of merchandise from countries outside South America, along with excessive bureaucracy, the sources said.
Thus, Mango recently has divested itself of its seven stores in the country, its leases have expired and it has decided to abandon the idea of having a physical presence in Brazil.
Nevertheless, Mango - with its 2,600 stores around the world - expects its sales to rise by 20 percent in 2013 due to the opening of 300 additional sales points and the creation of new clothing lines, according to the firm's expansion plans. EFE