Spanish style firm Mango has accelerated its progress in 2024, recording notable will increase throughout all turnover figures. Pushed by the continual enhancement of its distinctive worth proposition, the corporate achieved a turnover of €3.339 billion (~$3.64 billion), marking a 7.6 per cent rise year-over-year (YoY).
At fixed change charges, turnover grew by 11.6 per cent, surpassing the market common. Gross working revenue (EBITDA) climbed to €636 million, up 19 per cent YoY, whereas internet revenue reached €219 million, reflecting a 27 per cent enhance from the earlier yr.
The rise in turnover in 2024 was complemented by a rise in gross margin, reaching 60.7 per cent of gross sales, together with enhanced profitability.
Mango skilled robust progress in 2024, with turnover rising 7.6 per cent to €3.339 billion (~$3.64 billion).
Investments reached a document €219 million (~$238.71 million), specializing in retailer growth, know-how, and logistics.
Worldwide gross sales contributed 78 per cent of income.
Sustainability efforts superior, with 72 per cent lower-impact fibres used.
Since 2019, the corporate has elevated its revenues by 40 per cent, above the typical for the sector. The yr 2024 noticed the best funding within the firm’s historical past, 17 per cent greater than the earlier yr, primarily allotted to the opening and refurbishment of shops, in addition to to technological improvements, the growth of its logistics capability and its campus, Mango stated in a press launch.
Mango opened over 260 new bodily shops in 2024, bringing the whole to greater than 2,800 throughout over 120 markets worldwide. In the meantime, the net channel accounted for a 3rd of the corporate’s gross sales, producing a turnover of roughly €1.1 billion.
Mango’s worldwide enterprise accounts for 78 per cent of whole income. The international locations with the best turnover proceed to be led by Spain, France, Turkiye, Germany and the US, carefully adopted by Italy, the UK and Portugal.
All enterprise traces carried out effectively for the corporate. Man, Youngsters and Teen segments skilled robust progress, rising their share of whole turnover. In the meantime, the Girl phase remained the primary driver of Mango’s gross sales, contributing 79 per cent of the enterprise.
The expansion achieved in 2024 was accompanied by a excessive stage of funding. Mango invested a complete of €219 million—a part of the €600 million outlined in its strategic plan by 2026. In 2024, investments primarily targeted on increasing and refurbishing its retailer community, advancing technological improvements, rising logistics capability, and creating the brand new Mango Campus. All through this growth and funding section, the corporate maintained a powerful monetary place.
“In 2024 we’ve got strengthened our worth proposition. We now have invested strongly in bettering our retailer community (with quite a few openings and refurbishments), in know-how, logistics and the brand new Mango Campus. We’re in the perfect second of our historical past, and we’re investing to take Mango to a brand new stage of progress. The Mango Challenge is stronger than ever. We’re satisfied that essentially the most good pages of our historical past are but to be written,” stated Toni Ruiz, chairman and chief government officer (CEO) of Mango.
Dedication to society and setting
In product improvement, the corporate progressed in the direction of its purpose of utilizing 100 per cent decrease environmental-impact fibres by 2030, having already reached 72 per cent, with 25 per cent of those being recycled. Moreover, it launched regenerative cotton into its collections for the primary time by a partnership with Materra, furthering its circularity efforts.
Almost one-third of its clothes this yr had been eco-designed. Mango additionally supported sustainable, traceable, and measurable social initiatives, each inside its provide chain—the place it inspired accountable practices—and in broader society. It continued its social motion programmes, specializing in three key areas: training, social assist, and well being, aligning with the corporate’s aims outlined in its 2024-2026 Strategic Plan, the 4E Plan.
By 2026, the corporate expects to surpass €4 billion in turnover whereas remaining dedicated to high quality, in-house design, innovation, and sustainability, added the discharge.
