Mango experienced a remarkable surge in turnover in 2023, with a 15% increase totaling over 3.1 billion euros for the first time. Adjusted for constant exchange rates, this growth reached an impressive 20%.
The company’s physical presence also flourished throughout the year, witnessing a net addition of over 130 stores, expanding its global footprint to nearly 2,700 stores across 115 markets.
Simultaneously, Mango’s online channel exhibited robust growth, surpassing the 1 billion euros turnover mark for the first time, constituting 33% of the group’s total turnover.
International operations contributed significantly to the overall turnover, accounting for 77% in 2023. Notably, key markets such as Spain, France, Germany, Turkey, and the US – now among the top five in turnover – showcased exceptional performance.
Across business lines, both Man and Kids and Teen segments displayed strong momentum, registering close to a 20% turnover increase.
Women’s wear remained the primary revenue driver, with a notable 15% growth rate. Mango’s net profit doubled in 2023, surging from 81 to over 172 million euros, alongside a 22% rise in EBITDA to exceed 533 million euros.
As Mango celebrates its 40th anniversary amidst robust growth, it unveils the 4E Strategic Plan, setting ambitious goals for 2026.
Comprising Elevate, Expand, Earn, and Empower pillars, this plan aims to elevate the brand’s value proposition, expand its global presence with 500 new store openings, enhance existing store and online sales, and empower its workforce to drive sustained growth.
Toni Ruiz, CEO of Mango, expressed confidence in the 4E Plan, envisioning strengthened customer relationships, a consolidated business model, and sustained value creation.
The plan underscores Mango’s commitment to innovation, customization, and customer service excellence.
In line with its growth trajectory, Mango recently bolstered its corporate governance with the addition of four independent directors to its Board, expanding its composition to nine members.
Led by non-executive chairman Isak Andic and CEO Toni Ruiz, the new Board includes esteemed individuals such as Jordi Canals, Jorge Lucaya, Jordi Constans, and Marc Puig, among others, reinforcing Mango’s strategic leadership for the future.
