The fashion brand Mango achieves its best results in history with a turnover of 3.339 billion euros in 2024, representing a growth of 7.6% compared to the previous year. The group thus consolidates its sustained growth path over the last five years thanks to the boost in sales across all its channels.
"We can say that we are at our best moment," celebrated Mango's president, Toni Ruiz, during the presentation of the results held at the company's headquarters in Palau-solità i Plegamans, Barcelona. These are the first results since the death of its founder and main shareholder Isak Andic last December after a fatal hiking accident with his son Jonathan. Ruiz, who has been serving as president and CEO for a month, expressed sadness and gratitude for the outpouring of affection received after Andic's death, stating, "Today more than ever, we are committed to continuing to improve the excellence that defines us as a brand, a brand that creates fashion," attributing it to the "culture that Isak has transmitted to us, in addition to the work of our entire team." The goal remains to carry on his legacy, although Ruiz emphasized that "Mango beats beyond Isak."
Regarding the reopening of the judicial investigation into the founder's death, Ruiz chose not to comment but admitted that it has been "emotionally very tough, but we appreciate the thoroughness with which the authorities are handling the case."
Thus, the focus remains on the company's expansion and sustained growth, which has seen its revenues rise by 40% since 2019. "We have grown in all channels, in all countries, and in all product lines, reflecting the consolidation of our business model." In total, EBITDA reached 636 million euros, 19% higher than in 2023, while net profit increased by 27% to 219 million, indicating a significant improvement in profitability," as highlighted.
While the company continues to invest in physical stores - having opened 260 establishments last year, totaling 2,800 points of sale worldwide - the online channel now encompasses nearly a third of the group's total sales, around 1.1 billion euros.
Its international business has also shown very positive figures, accounting for 78% of Mango's total revenues. Among its main markets in terms of turnover are France, Turkey, Germany, and the United States, as well as Portugal and the United Kingdom.
In 2024, the company also increased its investments by 17% to 219 million euros, the highest in its 40-year history. "We have great financial strength, allowing us to continue making significant investments," explained Margarita Salvans, the company's CFO. These investments have mainly been directed towards opening and renovating stores, technological innovations, and expanding logistical capabilities. "This commitment is a result of our strong financial position," she pointed out.
"We are very proud of our growth, and I am confident that the best chapters of Mango are yet to be written," affirmed Toni Ruiz.