Mango has shown notable momentum as it emerged from pandemic-era disruptions and resumed its growth trajectory. In 2022 the Catalan company posted sales of 2,688 million euros, the strongest volume in its history and a rise of 20% from the previous year, with revenue already higher than pre-pandemic levels. The company’s leadership described 2022 as a return to normal business dynamics, a sentiment echoed as profits reached 81 million euros. These results stand as the best in the past decade and reflect a solid upturn across the board. The year included a robust increase in income, attributed in part to price adjustments driven by inflation, while Mango managed costs through disciplined execution and disciplined store and online strategies. This combination supported a significant improvement in profitability and margin. Despite price pressure for some raw materials and shifts in its commercial mix, the group managed to maintain strong momentum through selective strategic actions focused on product innovation and operational efficiency. Global Retail Director Vincent Caesar highlighted that the wind-down of operations in Russia contributed roughly 20 million euros less in revenue, though the brand continues to operate through 90 Mango franchises in that market.
Bet in the physical store
One of the core drivers of growth, according to Tony Ruiz, is a deliberate emphasis on physical retail. The brick-and-mortar channel accounted for more than 60% of sales, reinforcing Mango’s growth strategy through enhanced store density and geographic reach. Last year the company opened 119 new locations, including a flagship presence on Fifth Avenue in New York. Looking forward, Mango intends to keep expanding in the coming years: at least thirty new stores planned for the United States, approximately twenty additional outlets in Canada, and about 35 in India as a clear expansion blueprint.
Meanwhile, the online channel remains a strategic pillar. Although online sales have not yet reached the 1 billion euro annual target (standing around 960 million), this channel already represents about 36% of total turnover. Mango also expects to enter around 20 new markets in 2023 through e-commerce, with Vicente noting that their market share is above the sector average as the online footprint grows.
Investment activity in 2022 was substantial, totaling 107 million euros. The company continued expanding its store network, upgrading technology, logistics, and facilities. Plans include commissioning a refurbished distribution center in Llica d’Amunt, near Barcelona, while ongoing investments aim to sustain rapid expansion. Ruiz emphasized that the group aims to surpass 3 billion euros in turnover in the coming years and stressed that the investment program would remain a priority, underscoring a broader strategy to consolidate gains and fuel continued store openings. These actions underscore Mango’s confidence in a durable growth path and a broader international footprint, supported by a strong balance between physical stores and online channels as the business scales.