Mango, the renowned fashion retailer, has recently announced its plans to streamline its corporate structure by merging two of its subsidiaries. This move involves the absorption of Punto Mi SL and Diknah SL, both managed by Jonathan Andic, the son of Mango’s founder and owner, Isak Andic, into the parent company, Punto Fa. The objective of this merger is to simplify Mango’s operations and align them with its ongoing corporate simplification process.

The merger will be finalized after the transfer of assets and liabilities from the two subsidiaries. The announcement regarding this consolidation was made in the Official Gazette of the Mercantile Registry. This step is significant for Mango as the company has gradually reduced its number of subsidiaries from 70 in 2014 to around 50 to 55 in recent years.

Punto Mi, one of the subsidiaries being absorbed, was primarily involved in store management but ceased its operations in September 2021. In its last fiscal year, it recorded assets worth 48 million euros and generated revenues of 5.25 million euros. On the other hand, Diknah, a holding company representing various brands, had assets totaling 3.2 million euros. These details were disclosed by the Spanish business newspaper, Cinco Días.

Jonathan Andic, a member of Mango’s board of directors and the director of Mango Man, served as the sole director of the two subsidiaries being merged and nine other subsidiaries within the Mango group. The combined net worth of these companies amounts to 560 million euros.

Mango, founded by Isak Andic in 1984, is currently under the leadership of CEO Toni Ruiz. The brand has established a strong international presence, operating in 110 markets worldwide with a network of 2,508 points of sale. In the first half of this year, Mango achieved a remarkable 25% increase in turnover, reaching 1.21 billion euros.

By simplifying its corporate structure through the merger of its subsidiaries, Mango demonstrates its commitment to improving efficiency and maximizing operational effectiveness. In the fiercely competitive and rapidly changing fashion industry, streamlining operations can provide companies with a competitive edge and better adaptability to market dynamics. With its continuous efforts to enhance its structure, Mango aims to position itself for sustained growth and success in the global fashion market.

Useful Links:
– [Mango’s Official Website](https://www.mango.com/)
– [Mango’s Investor Relations](http://www.mango-ir.com/)