Fashion Retailer Mango to Open on Lincoln Road Amid US Expansion
By Julia Echikson May 27, 2022 11:30 am
reprints
Fast-fashion retailer Mango is coming to Miami Beach’s Lincoln Road as part of its U.S. expansion.
This July, the Spanish brand will open a store at 1036 Lincoln Road, a single-tenant property, according to the company announced.
Competitor Express still occupies the 15,551-square-foot building, but its lease is expiring soon, said a representative for The Lincoln Road Business Improvement District.
On the famed retail promenade, Mango stayed clear of archrival Zara, another Spanish fast-fashion giant. Not only is Zara’s store on the other end of Lincoln Road, but its founder, Amancio Ortega, owns much of the street.
In 2017, the Zara billionaire bought out an entire block just east of Mango’s location for $370 million, which at the time was Miami-Dade County’s second-largest trade.
Mango’s landlord is Robert Cayre, property records show. Its lease is the latest sign of Lincoln Road’s mass-market metamorphosis.
Only a few years ago, asking rent stood as high as $350 a square foot along the promenade, but has since fallen. A slew of higher-end brands, such as Ladurée and fashion brand Zadig & Voltaire, fled once the pandemic hit. Earlier this month, Vornado Realty Trust sold a retail complex at the edge of the road after defaulting on a loan. A Cheesecake Factory restaurant is scheduled to open.
Mango, founded in 1984, has grown to become a household name outside the U.S. with 2,447 stores in 110 markets. Now the company has sights set on the U.S., hoping to make the country one of its top five markets. Within the next three years, the brand plans to open approximately 30 locations across the country to bring its total store count to 40.
Earlier this month, Mango opened a 23,000-square-foot flagship boutique at 711 Fifth Avenue in New York.
In South Florida, two outposts are set to open this summer at Jackie Soffer’s Aventura Mall and the Miami International Mall. Another is slated for Simon Properties’ Town Center at Boca Raton. One inside Dadeland Mall is already operational.
Julia Echikson can be reached at jechikson@commercialobserver.com.
