Mango forecasts record annual sales and announces strategic plan to continue growth

Mango has announced a new strategic plan and improved corporate governance for 2024 as it looks forward to celebrating its 40th anniversary next year. 

It comes as the Spanish fashion brand expects to close FY23 with record sales, including a turnover in excess of €3 billion.

Founded by Isak Andic in 1984, Mango has grown into a global fashion powerhouse. The brand offers a wide range of clothing, accessories and footwear across 110 markets worldwide.

During 2024, Mango said it will promote various initiatives to help increase the "stability and solidity" of the business.

The brand's new strategic plan, which will be presented in March, focuses on strengthening its differentiated value proposal, commitment to innovation and sustainability, and driving sales through the growth of all its channels.

It will also continue to expand its global store network, with almost 500 new openings planned until 2026, including locations in the US, UK, Spain, France, Italy, India and Canada.

In addition, Mango is strengthening its corporate governance next year, increasing its Board of Directors from four to nine members.

Isak Andic, Founder and Non-Executive Chairman of Mango, said: "It is a historic moment for our company.

"The contribution of new independent board members, who enjoy great recognition and experience and a global vision, will drive the strategy and business of Mango, while strengthening the institutionalisation of our organisation."