Mango hails strong 2024 performance
Mango saw its turnover climb by 7.6% year-on-year in 2024 to €3.339 billion.
At constant exchange rates, the Spanish fashion retailer grew its turnover by 11.6% as its EBITDA reached €636 million, 19% more than in 2023.
Meanwhile, net profit rose by 27% to €219 million.
Toni Ruiz, chairman and chief executive of Mango, said: “We are very pleased to present excellent results for 2024. Our sales have grown by 7.6% and we have significantly improved our profitability. EBITDA has grown by almost 20% and net profit by 27%. This demonstrates the attractiveness of our value proposition and the soundness of our business model.”
Never Miss a Retail Update!During the year, Mango invested in technology innovations and the expansion of its logistics capacity, as well as the refurbishment of numerous stores.
In addition, the retailer opened more than 260 new shops as it works towards a target of launching more than 500 by 2026. At the end of the financial year, Mango had close to 2,850 stores in more than 120 markets around the world.
Ruiz added: “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.”
