Mango targets record revenues of over 3 billion euros in 2023 and unveils a new strategic plan

Mango anticipates closing 2023 with a new sales milestone. After recording a revenue of 2.688 billion euros in 2022, the company expects to surpass the 3 billion euros mark by the fiscal year’s end. “This signifies double-digit growth and a positive trend across all retail channels, including our online platform,” the fashion group stated.

Looking ahead to its 40th anniversary in 2024, Mango previews the ongoing year and announces that in March, it will introduce a new strategic plan stretching until 2026. “The new roadmap will focus on reinforcing our unique value proposition, commitment to innovation, sustainability, and boosting sales through extensive store expansion and channel growth,” company representatives outlined.

Mango’s strategic plan for 2024-2026 entails a robust expansion strategy with 500 store openings, focusing efforts on key markets such as the United States, Spain, France, Italy, the United Kingdom, India, and Canada.

Among the highlights for the Barcelona-based textile group in 2023 is its entry into new U.S. states like Texas, Georgia, or California, closing the year with over 20 retail locations in the country. Overall, the company has opened 130 stores and refurbished another 80, currently operating nearly 2,700 points of sale across 115 markets. Regarding online channels, Mango expanded its digital distribution to 20 new countries, operating in 110 markets through this channel.

From premium collections to advancements in sustainability strategy

In 2023, the brand also focused on premium collections, including its “Capsule” line tailored for events and ceremonies, known for its exclusive garments crafted with high-quality materials and finishes.

As part of its sustainability drive, this year saw the launch of its first denim collection designed with sustainability in mind, “with the aim of making garments more easily reusable and recyclable after their lifecycle, thus promoting a second life for the products.”

Founded by Isak Andic in 1984, Mango will commemorate its four-decade journey in 2024, accompanied by corporate-level changes: from March onwards, its board will expand from four to nine members. Additionally, as a sneak peek into their upcoming changes, this December, Mango’s CEO, Toni Ruiz, will become a shareholder, holding a 5% stake in the company.