Mango, the Spanish fashion brand, announces a turnover in excess of €3.3 billion in 2024, an increase of 11.6 percent, above the market average.
Mango Reports Turnover In Excess Of €3.3 Billion In 2024
Per the company, the company’s turnover in 2024 amounted to 3.339 billion euros, 7.6 percent more than in 2023. At constant exchange rates, turnover grew by 11.6 percent, above the market average. Gross operating profit reached 636 million euros, 19 percent more than in 2023, and net profit was 219 million euros, a 27 percent improvement over the previous year.
Toni Ruiz, Chairman and CEO of Mango, highlights that “we are very pleased to present excellent results for 2024. Our sales have grown by 7.6 percent and we have significantly improved our profitability. EBITDA has grown by almost 20 percent and net profit by 27 percent. This demonstrates the attractiveness of our value proposition and the soundness of our business model”.
The key figures for 2024 are proof of the positive progress made in recent years. The Spanish fashion brand continues to consolidate its business model and is reinforcing its differentiated value proposition in all its lines. It offers a greater degree of personalisation and is strengthening customer service. In the last five years, the company has shown significant improvements in its financial indicators, with a cumulative increase in turnover of 40 percent.
“In 2024 we have strengthened our value proposition. We have invested strongly in improving our store network, 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. The Mango Project is stronger than ever. We are convinced that the most brilliant pages of our history are yet to be written,” adds Toni Ruiz, Chairman and CEO of Mango.
Commitment to sustainability and environmental impact
During 2024 Mango made progress towards sustainability, circularity and environmental impact, as well as its commitment to society. In the product area, it progressed in its goal to use 100 percent lower environmental-impact fibers by 2030, already achieving the use of 72 percent of these fibers, 25 percent of which are recycled. It also includes the use of regenerative cotton in its collections through an agreement with Materra; almost a third of garments are eco-designed.
Mango is also promoting sustainable, traceable and measurable projects, with suppliers in its supply chain, where it promotes responsible practices. These measures confirm and reinforce Mango’s commitment to the objectives set out in its Strategic Plan 2024-2026, the 4E Plan. In 2026, the firm forecasts a turnover of over 4 billion euros, while maintaining its commitment to quality, in-house design, innovation and sustainability.
About Mango
Mango, one of Europe’s leading fashion groups, was founded in 1984 in Barcelona by brothers Isak and Nahman Andic. It started as a clothing stall in a local market, driven by the founders’ ambition to create stylish and affordable apparel for the urban woman. Isak Andic’s vision was clear from the outset: to offer chic designs that combined high quality and affordability. This focus on modern yet accessible fashion quickly received attention, enabling Mango to expand into a global fashion label.
Mango’s distinctive style, characterised by Mediterranean influences and trend-driven designs, appealed to a diverse consumer demographic. By the early 1990s, the company had opened stores in many countries. Today, Mango is recognised for its stylish collections and for its commitment to sustainability. The company closed 2024 with a turnover of over 3,300 million euros, with a third of its business coming from the online channel and a presence in more than 120 markets.
Jasmeen Dugal is Associate Editor at FashionABC, contributing her insights on fashion, technology, and sustainability. She brings with herself more than two decades of editorial experience, working for national newspapers and luxury magazines in India.
Jasmeen Dugal has worked with exchange4media as a senior writer contributing articles on the country’s advertising and marketing movements, and then with Condenast India as Net Editor where she helmed Vogue India’s official website in terms of design, layout and daily content. Besides this, she is also an entrepreneur running her own luxury portal, Explosivefashion, which highlights the latest in luxury fashion and hospitality.
