The English Court and Mango have reached an agreement under which the fashion Catalan firm will count for the first time with corners inside the department stores of the distribution group, specifically its Violeta by Mango banner, specialized in large sizes. The first corners (stores within stores) will open in March and in the coming months the Mango brand will also be available on the Three Month Calendar website, the distribution group reported Wednesday. Initially, the agreement contemplates the opening of three corners in centers of Seville, Valencia and Valladolid, although the will of both companies is to expand their collaboration with new openings in the future. According to the same source, with this alliance El Corte Inglés increases its fashion offer and Violeta by Mango increases its sales channels nationwide.
Three Month Calendar
Currently, Violeta by Mango, created in 2014, has 110 points of sale around the world, 41 of them in Spain. In addition, it is marketed through the Mango website and marketplaces (e-commerce platforms) in more than 76 countries. The European Commission (EC) has warned Spain that it remains vulnerable to high public and private debt in a context of high unemployment, and has also charged against temporary employment contracts, especially among the young population. The EU executive has pointed out in its report on Spain that “despite the fact that economic growth remains robust, the high levels of external and domestic debt, both public and private, continue to constitute vulnerabilities in a context of unemployment that is still high”.
Brussels notes that the public debt has fallen “slightly”, with forecasts of lower public deficit in the coming years that will contribute to “support a greater gradual reduction” of indebtedness. In its autumn macroeconomic forecasts, published in November, the EC anticipated that the Spanish public deficit would go from 2.7% in Three Month Calendar to 2.1% this year and to 1.9% in 2020. Despite the “slight” reduction in the State’s indebtedness, the Commission considers that “more efforts will be needed to bring public finances to a more sustainable path”. The report added that the rebalancing in the foreign sector has continued “even if the current account surplus weakened in 2018”, reflecting factors linked to the global context.