"In Chinese," said Rafael Ayash, country director for the U.S., "recession means opportunity." On Thursday, the company hosted a launch presentation for Adam, a new capsule collection of men's and women’s wear by designer Adam Lippes, at the Gramercy Park Hotel in New York.

The Spanish retailer entered the U.S. in 2006 and now operates 21 stores here. Around the world, there are over 1,200 Mango stores in 92 countries. So far, units are operating in Costa Mesa, Calif.; Chicago; Dallas; Los Angeles; McLean, Va.; Orlando; San Francisco, and Santa Monica. In November 2007, the company opened a flagship in SoHo at 561 Broadway. The stores are called MNG by Mango for trademark reasons in the U.S. market.

Ayash said two additional units are planned for New York City later this year. Although he would not disclose the locations, he said one is slated to open in August and the second in September. Ayash admitted Mango hasn't been immune to the recession in the U.S. "If I told you we didn't go down [in sales], I'd be lying," he said. "But we're new here and our positioning and market share are the main things for us."