The Barcelona-based textile group, Mango, is aiming to break its own revenue records by surpassing 3 billion euros by the end of 2023. In 2022, the company achieved a revenue of 2.688 billion euros, indicating strong growth across all retail channels, including online sales.

To mark its upcoming 40th anniversary in 2024, Mango has announced that it will reveal a new strategic plan in March, which will shape the company’s operations until 2026. The plan will prioritize reinforcing Mango’s unique value proposition, commitment to innovation, sustainability, and expanding sales through store expansion and online channels.

As part of its expansion strategy, Mango plans to open 500 new stores in key markets, including the United States, Spain, France, Italy, the United Kingdom, India, and Canada. In 2023, the company made its debut in new U.S. states such as Texas, Georgia, and California, and is set to end the year with more than 20 retail locations in the country. Currently, Mango operates almost 2,700 points of sale across 115 markets.

In addition to store expansion, Mango has also been focusing on strengthening its online presence. The company expanded its digital distribution to 20 new countries in 2023, increasing its online sales reach to a total of 110 markets.

Mango has also been making significant strides in its sustainability efforts. The brand recently launched its first sustainable denim collection, which is designed to make garments more easily reusable and recyclable, encouraging a second life for the products.

Established in 1984 by Isak Andic, Mango will celebrate its 40th anniversary in 2024. As part of its corporate-level changes, the company’s board will expand from four to nine members, starting in March. Additionally, Mango’s CEO, Toni Ruiz, will become a shareholder, owning a 5% stake in the company.

With its ambitious strategic plan focused on innovation, sustainability, and expansion, Mango is well-positioned to achieve its revenue goal of over 3 billion euros in 2023. The company’s continued growth trajectory indicates a promising future.

Useful links:
1. Mango Official Website
2. Mango LinkedIn Page