The company has broken the € 3.1 billion revenue threshold for the first time since it was founded in 1984. This represents a 15 per cent increase in revenues over the € 2.688 billion generated in 2022. Sales increased by 20 per cent when exchange rates remained steady.
Alongside the revenue growth, profitability has also improved; net profit for the most recent year doubled from € 81 million in 2022 to € 172.1 million. In parallel, the gross operating profit increased by 22.2 per cent to € 533.4 million from € 436.6 million in the previous two years. The Catalan corporation said in announcements that “these figures underscore the extraordinary progression of recent years.”
“In a highly competitive environment, we have achieved Mango’s best results in history. It has been an excellent year, and we are very pleased with the outcomes. Customers value and appreciate Mango’s unique value proposition,” said Toni Ruiz, CEO of Mango.
In light of this, the management of the company has placed a heavy emphasis on physical retail and the “acceleration of store network development.” Mango had opened 130 net new stores and finished 80 renovations by the end of the previous fiscal year, reaching 2,700 places of sale in 115 foreign markets. As a result, revenue from physical stores topped € 2 billion for the first time, and online sales increased to € 1.037 billion, or 33 per cent of the group’s overall income.
Spain makes up 23 per cent of the market in terms of sales, with the remaining 77 per cent coming from outside sales, which are primarily from the US, France, Germany, and Turkey. In terms of sales volume, the latter market has emerged as one of the group’s top five, which is in line with the goal the firm set for itself when it opened its first store on Fifth Avenue in New York in May 2022.
In terms of business lines, Mango has emphasised the “strong performance” of its categories for Men, Kids, and Teens, each of which has seen a sales increase of about 20 per cent. The children’s and teenage lines saw sales increase from € 207 to € 246 million, accounting for 8 per cent of overall sales, while the men’s division had its turnover expand from € 287 to € 340 million, representing 11 per cent of the company’s revenue. Nonetheless, the company’s women’s line continues to be its main source of income, with sales rising by 15 per cent to € 2.5 billion.
Finally, the brand has unveiled a new strategic plan for the year 2026, aiming to achieve a turnover of over € 4 billion and sign more than 500 new store openings.
