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Mango doubles profit amid ‘record sales’
Source: Mintel 12-03-2024

Spain 12-03-2024

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For the year to 31 December 2023, Mango reported a 15% increase in revenue to a record €3.1 billion. Spain was its largest market, accounting for 23% of full-year revenue, while international sales represented 77%. In-store sales accounted for 67% of revenue, with both channels breaking new records in 2023 - physical sales surpassed €2 billion and online sales reached €1 billion in sales for the first time. Net profit more than doubled to €172 million over the period.

Looking forward, Mango aims to surpass €4 billion in revenue by 2026 through implementing its newly launched 4E strategy. The strategy focuses on elevating the brand’s value, opening 500 more stores by 2026, earning sales through sustainable growth and empowering its employees to develop a “sense of belonging” within the organisation.