Mango sales topped €3.3bn in 2024

Mango boss Toni Ruiz said the fashion retailer was in the “best moment” of its history after sales topped £2.7bn (€3.3bn) last year.

The chief executive said it “demonstrates the attractiveness of our value proposition and the soundness of our business model”.

The Spanish fashion giant attributed its 7.6% increase in revenue to store expansion, an improved value offer and its designer collaboration collections.

Womenswear represented 79% of the group’s turnover last year, with menswear, Kids and Teen also performing “strongly” with above-average growth.

The retailer posted a 19% increase in EBITDA to £533.9m (€636m) and a 27% surge in net profit to £183.8m (€219m).

Mango said its £183.8m (€219m) investment during 2024 was the highest in its entire history and was up 17% compared to the previous year.

The retailer opened more than 260 new shops in 2024, taking its total portfolio to over 2,800 stores in more than 120 markets around the world.

Mango’s brick and mortar channel accounted for £1.85bn (€2.2bn) in sales, while online revenue stood at £923.5m (€1.1bn).

Ruiz continued: “In 2024 we have strengthened our value proposition. We have invested strongly in improving our store network with numerous openings and refurbishments, in technology, logistics and the new Mango Campus.

“We are in the best moment of our history, and we are investing to take Mango to a new level of growth.

“The Mango Project is stronger than ever. We are convinced that the most brilliant pages of our history are yet to be written.”

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