Spanish fashion brand Mango has announced its successful year-end sales figures for 2019, reporting record-high revenue of €2.37 billion ($2.62 billion). This represents a growth of 6.3% compared to the previous year, surpassing the previous record set in 2015. The company’s earnings before interest, tax, depreciation, and amortization (EBITDA) also experienced a significant increase, rising by 43.7% to €194 million ($214 million).

CEO Toni Ruiz expressed his satisfaction with the brand’s performance, attributing it to the collective efforts of the Mango team. He also highlighted the company’s strong financial position and its ability to repay all debts with its annual income. Mango has been consistently reducing its net debt for the past three years, demonstrating its commitment to financial stability and profitability.

Mango’s international market continues to play a significant role in its success, accounting for 77% of its sales in 2019. However, Spain remains its largest individual market. Womenswear constitutes the majority of Mango’s product sales, generating 82% of total revenues, while the Men’s, Violeta, and Kids collections contribute to the remaining 18%.

The brand has experienced noteworthy growth in online sales, exceeding expectations with a 26.7% increase to €564 million. E-commerce now accounts for 23.7% of Mango’s global revenues, with more than 600 million web visits in 2019.

Despite a strategic program involving store openings, closures, and refurbishments, Mango maintained a relatively stable total selling space, with 2,188 stores worldwide and 803,000 square meters at the end of the financial year, a slight decrease of 1%.

Overall, Mango’s exceptional sales performance and strong financial position demonstrate its commitment to growth and profitability. With a focus on expanding its online presence and international markets, Mango is poised for continued success in the fashion industry.

For more information on Mango’s financial performance in 2019:
Mango’s official presentation
Reuters’ article on Mango’s financial results.