BARCELONA, March 11 (Reuters) - Fashion retailer Mango

said on Monday its sales rose 19% to a record 3.1 billion euros

($3.39 billion) in 2023, after matching Spanish rival Zara's

strong expansion in the United States.

Barcelona-based Mango said it exceeded its forecast of

surpassing 3 billion euros in sales by offering fashion trends

faster than competitors thanks to having suppliers near to its

main logistics centres in Spain and factories in Asia.

Its in-house design has a firm focus on party wear and

fashion pieces for upmarket shoppers who are less sensitive to

higher prices in a global fast-fashion industry where the rapid

growth of newer online players such as China-based Shein is

putting pressure on competitors with bargain prices.

Mango has positioned itself more as a premium retailer and

has higher prices than Inditex-owned Zara and Sweden's H&M in

some party pieces, retail intelligence company EDITED said.

The biggest price rises are in dresses, where average

in-stock prices grew 46% for the 2024 spring collection versus

two years ago in markets such as the U.S., according to EDITED.

Mango's online sales account for a third of its total

revenue.

Its net profit rose to 172.1 million euros, from 81 million

euros in 2022, CEO Toni Ruiz said at a press conference.

Mango is following in the footsteps of the world's largest

listed fast-fashion group Inditex, which is also expanding in

the U.S.

The smaller Spanish group reported double-digit sales growth

over the Christmas period in the U.S., which has become one of

its top five markets.

($1 = 0.9146 euros)