The investment reinforces Mango's ongoing digital transformation efforts and aligns with its broader initiative, Mango StartUp Studio, aimed at accelerating fashion startups. With this partnership, Mango aims to position itself as a more modern brand while leveraging Union Avatars' expertise in virtual avatar technology.

The details of the financial investment have not been disclosed by Mango. However, the collaboration will allow Union Avatars to benefit from Mango's operational knowledge and support through mentorship, professional guidance, and business model development. The investment was made through a convertible participating loan, reflecting Mango's commitment to fostering innovation and growth in the fashion industry.

Founded in 2020 by Cai Felip and Jordi Conejero, Union Avatars is dedicated to shaping the future of digital identity by creating hyper-realistic avatars. The startup provides a range of avatar creation tools and promotes identity interoperability across different platforms. The collaboration with Mango offers Union Avatars a unique opportunity to expand its capabilities and further advance its technology.

Mango StartUp Studio, launched in 2022, has already made notable investments in various startups, including La Más Mona, Payflow, and Recovo. The accelerator program aims to drive innovation, identify growth opportunities, and actively participate in the development of new technologies and business models within the fashion industry.

Mango, founded by Isak Andic in 1984, achieved a significant milestone in its 2022 fiscal year with a revenue increase of 20.3%, reaching 2.688 billion euros. The company has established a strong global presence in 115 markets through its owned stores, franchises, department store partnerships, and online channels, which currently contribute to 36% of its revenue.

As Mango continues to embrace technological advancements and invest in promising startups like Union Avatars, the brand solidifies its position at the forefront of innovation in the fashion industry, aiming to meet the evolving demands of its diverse customer base.