Capping an era with a triumph, the group launches a fresh strategic plan fueled by the same ambitious spirit. The Mango clothing chain continues to sell, invest, and grow beyond prior records, and, buoyed by this favorable moment, the company has kicked off a new package of actions that will unfold through 2026. If everything goes to plan, the business aims to expand by about 30 percent, add 500 new stores, hire roughly 5,000 people, and double its profits.
Starting from a strong position, Mango, owned by Isak Andic, closed 2023 with revenues of 3.1 billion euros, up 15 percent from the previous year. The sales growth also surpassed the sector’s average, according to the company. The jump in profits, linked by three top officers to years of work improving and differentiating both the product and its presentation at the point of sale, translated into a 122 percent increase in net earnings. Mango recorded 172 million euros in profit for the past year.
“We can state with confidence that Mango is outpacing the market, boosting profitability, and maintaining a financially healthy profile with no net debt,” summed up the Mango chief executive and, since this year, a 5 percent owner of the company, Toni Ruiz.
According to the Monday presentation, the vast majority of sales come from women’s apparel, which accounts for 81 percent of Mango’s 2023 revenue. The men’s line follows with about 10 percent, and the Kids and Teen segments make up 8 percent. More than three-quarters of the income originates outside Spain, though Spain remains the core market, followed by France, Germany, Turkey, and the United States.
Another milestone is reaching one billion euros in online transactions, which represents 33 percent of total revenue and is among the sector’s higher e-commerce shares. Yet physical stores remain the primary format for the retailer, a priority in its expansion thesis.
Aperture of 500 Stores
A large portion of the growth plan centers on opening 500 stores across Spain, France, Italy, Germany, the United Kingdom, Poland, India, and North America. The plan also envisions renovating about 150 existing stores. “On each working day, we will open or reopen a store with a new concept. It is truly spectacular—yet a genuine challenge because this will happen across many countries,” Ruiz noted.
The strategic plan aims to reach 4 billion euros in revenue by 2026 and to invest nearly 600 million euros in openings and refurbishments. It also focuses on making operations more efficient through technologies like big data and artificial intelligence, and on broader logistics improvements. The agenda includes expanding the workforce by 30 percent, adding around 5,000 jobs (to about 20,000 total) and, ultimately, doubling profits to close to 350 million euros.
The four-part strategy is framed around four English keywords: Elevate, Expand, Earn, and Empower. The goal, succinctly stated by the chief executive, is to continue positioning Mango as one of the most influential players in the global apparel market. [Citation: Mango press materials]