Mango has a chance. The Catalan company finally restarted the recovery and growth dynamics it sustained before the pandemic and beat the world. sales record The company entered 2,688 million euros in 2022, the best volume to date and a figure that increased the previous year’s figures by 20% and 13%. before the pandemic. “2022 represented a return to normalcy” summarized in the presentation of these results CEO of mango, Tony RuizHe also celebrated that this increase in sales resulted, among other things, in a profit of 81 million euros.
These benefits are also the best of the decade. And they actually mean 20% improvement over the previous year and quadrupling the previous numbers. covid. “We have had a really good year” CFO of Mango, daisy rosesincrease in income exclusively Price increases due to inflation. “This, full activity of physical storesHE ‘online’ growthmade cost management… being vigilant and preparing action plans increased profitability,” he explained.
In any case, the company Mango Prices have risen, albeit partially. raw material price increasebut also because it “adopts some different aspects” of his proposal: have And innovation.
“Conditions were unfavorable and that’s why we’re very happy with the situation.” save results admitted we succeeded. Global Retail Director, Vincent Caesar, in particular regarding the cessation of operations in Russia, which has an impact of around 20 million euros. There are 90 Mango franchises in this market anyway.
Bet in the physical store
Ruiz said one of the keys to this growth is betting heavily on sales in physical stores. This channel generated more than 60% of sales and intensified an important part of the company’s growth strategy: Mango opened 119 new stores last year, including the establishment on Fifth Avenue in New York. Looking ahead, the company remains committed to opening stores: at least thirty per year United States of Americaanother 20 inches Canada, And in 35 IndiaFor example.
As for the ‘online’ channel, the sales volume is still not at the €1,000 million targeted a year ago (remaining at 960 million), but already accounts for 36% of total sales. Pointing out that they expect to reach 20 new countries by 2023 in this way, de Vicente said, “Our market share is above the sector average.”
Mango has invested a total of 107 million Euros this year (more than double the previous year). opening new stores like technology, Logistics And facilities. For example, the company plans to put its refurbished distribution center into operation. Lica d’Amunt (Barcelona). And keep investing in this line. Confessing that he is willing to exceed 3 billion euros in turnover by 2023, Ruiz said, “We want the investment figures for the coming years to be very relevant.” “We are consolidating many issues at many levels and opening many stores, the prospects are good.”