Mango‘s heavy investments in enlargement are paying off.
The Barcelona-based international vogue chain generated 3.34 billion euros in quantity for the yr ended Dec. 31, a 7.6 p.c improve from 2023.
Earnings earlier than curiosity, taxes, depreciation and amortization in 2024 elevated 19 p.c to 636 million euros, whereas web revenue rose 27 p.c to 219 million euros.
Mango invested 219 million euros in its enlargement efforts final yr, out of the 600 million euros foreseen by means of 2026.
Toni Ruiz, chairman and chief govt officer of Mango, stated in a press release that the outcomes “display the attractiveness of our worth proposition and the soundness of our enterprise mannequin.
“Now we have invested strongly in bettering our retailer community with quite a few openings and refurbishments, and in know-how, logistics and the brand new Mango campus,” Ruiz stated. “We’re in one of the best second of our historical past and we’re investing to take Mango to a brand new degree of progress.”
The Mango staff: chief monetary officer Margaritz Salvans, chief govt officer Tony Ruiz and chief enlargement and franchise officer Daniel López.
The brand new, 1 million-square-foot campus in Palau-Solità i Plegamans, on the outskirts of Barcelona, contains places of work, the design division and the renovated manufacturing unit. It was conceived as a analysis, growth and innovation middle and is designed to advertise interplay between staff, spurring creativity with open areas and a mix of digital and bodily components.
Mango stated that its girls’s enterprise remained a “pillar” final yr, representing 79 p.c of the turnover. The corporate additionally stated that males’s, youngsters and youths additionally carried out strongly, accounting for the remaining 21 p.c of the quantity. The model is understood for its informal, colourful Mediterranean-influenced assortment in reasonable to raised costs.
Final yr, Mango opened greater than 260 shops, reaching greater than half of its focused 500 retailer openings by 2026. On the finish of 2024, the corporate had practically 2,850 shops working in about 120 markets world wide.
Mango spring product.
Courtesy picture
The U.S. is Mango’s major progress market. In 2024, the corporate exceeded its aim of reaching 40 company-owned shops within the U.S. with preliminary openings in Pennsylvania, Massachusetts and Washington, D.C., in addition to new doorways in California, together with the primary Mango in San Diego.
In 2025, Mango plans to additional improve its U.S. presence by opening 20 extra shops, bringing the entire to about 65 company-owned items nationally. Development will concentrate on the Solar Belt and the Northeast. The primary Washington state retailer can be in Bellevue Sq. within the Larger Seattle space. The primary Illinois retailer can be in Chicago on Michigan Avenue, and the primary Nevada retailer can be in Las Vegas within the Style Present procuring middle. Mango additionally plans to open its first shops in Connecticut, Arizona, Ohio, Oregon and Louisiana and can improve its presence in California, with a concentrate on the San Francisco space, and in Texas, with a retailer within the Houston Galleria.
Mango has additionally zeroed in on New York Metropolis for progress. A 13,000-square-foot retailer at 1976 Broadway, located between 66th and 67th Streets, is predicted to open someday this summer time, marking the corporate’s fourth retailer in Manhattan.
In different 2024 statistics, Mango’s brick-and-mortar operations accounted for practically 2.2 billion euros, whereas on-line gross sales reached practically 1.1 billion euros.
Mango’s worldwide enterprise accounted for 78 p.c of the quantity, with the very best turnover seen in Spain, France, Turkey, Germany and the U.S., adopted by Italy, the U.Okay. and Portugal.
To assist the expansion, the corporate indicated that it elevated its workforce by greater than 900 staff final yr to greater than 16,400.
The corporate additionally stated it was progressing in its aim to make use of 100% decrease environmental influence fibers by 2030 — it’s already already at 72 p.c.
Mango expects to surpass $4 billion in annual euros in 2026.
Ruiz added the title of chairman final January following the dying of Mango’s founder Isak Andic who in December 2024 was killed in a spelunking accident in a cave of the Montserrat mountain vary in Catalonia, Spain, throughout an tour along with his household.
The Mango retailer on Boulevard Haussmann in Paris.
Dominique Maitre for WWD
