Though Mango was established in 1984, this Barcelona-based company is far from reaching its full potential. Brand consultancy firm Interbrand recognized it as one of the top brands in 2012, largely in part to its rebranding efforts, global expansion plans, and adept execution of social media and interactive innovations that engage customers. Earlier this year, the company announced that it would reduce pricing by as much as 20%, but stated that profit margins would not be impacted. In December, it also vowed to eliminate industrial releases of all hazardous chemicals from its supply chain and products by 2020. The brand includes franchise business models, and has aggressively set its sights on Russian and Chinese markets, striving to develop more than 3,000 shops in those regions in the next five years. Domestically, Mango has partnered with JC Penney (NYSE:JCP), allowing it to reach customers beyond its limited United States brick-and-mortar footprint, which includes New York, California, Florida, and Nevada. Mango plans to expand its line to include kids fashions by the end of 2013. Women's Wear Daily reported that the brand's revenue was $11.8 billion in 2011.