Mango turnover rises following increased investment in 2024

Mango has reported an 7.6% increase in turnover to €3.339 billion (£2.8 billion) for 2024, with its international business accounting for 78% of total revenue.

The countries with the highest turnover are Spain, France, Turkey, Germany and the US, followed by Italy, the UK and Portugal.

Womenswear remained the main pillar of Mango's business, representing 79% of turnover in 2024. Menswear, Kids and Teen also performed "strongly", achieving above-average growth.

The growth was accompanied by a high rate of investment in 2024, with Mango having already invested €219 million (£183 million) out of €600 million (£503 million) in its strategic plan until 2026, which represents the highest investment in its history.

Recent investments have focused mainly on the expansion and refurbishment of its store network, as well as on technological innovations, and the expansion of the brand's logistics capacity.

Mango opened more than 260 stores last year, resulting in close to 2,850 stores in over 120 markets in 2024. It also continued to refurbish its store network to offer a better customer experience.

As a result, turnover across its physical channel was €2.2 billion (£1.8 billion). Meanwhile, the online channel delivered €1.1 billion (£923 million), representing a third of total turnover.

The company also increased its workforce by more than 900 employees in 2024, exceeding 16,400 by the close of the year.

Toni Ruiz, Chairman and CEO of Mango, said: "We are very pleased to present excellent results for 2024. Our sales have grown by 7.6% and we have significantly improved our profitability. EBITDA has grown by almost 20% and net profit by 27%. This demonstrates the attractiveness of our value proposition and the soundness of our business model.

"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."