Mango, the fashion company based in Barcelona, will turn 40 next year and is consolidating itself as one of the main European groups in the sector, forecasting a historical sales record of more than 3,000 million euros by 2023.
Currently, the brand operates in more than 115 markets, has some 2,700 points of sale around the world and 36% of its business comes from the online channel. In the coming months, Mango will expand its board of directors from four to nine members and present its 2024-2026 Strategic Plan, with the purpose of “promoting its differential value proposition, its international expansion plan and the sales of its online channel, among other objectives”, as indicated on the official website.
Closing of 2023 with record sales
Mango plans to reach a historic milestone in 2023, exceeding €3 billion in sales and marking double-digit growth compared to the €2,688 million recorded in 2022. This success is attributed to positive momentum across all sales channels. , including outstanding performance in the online sphere.
Throughout 2023, Mango has expanded its online sales to twenty new countries to exceed 110 markets worldwide and has consolidated its commitment to the physical channel with more than 130 net openings and 80 renovations since the beginning of the year. It also landed in the States of Texas, Georgia and California (United States), a country that already has more than twenty points of sale.
Among its various business actions this year, the company has diversified its offer with premium collections, such as the “Capsule” line for events and ceremonies, and has launched a denim collection designed with sustainability criteria to encourage the reuse and recycling of garments. This proposal aligns with the company’s vision, which seeks a balance between business growth and environmental responsibility.
International expansion plan 2024-2026
Between 2024 and 2026, the company expects to open 500 points of sale in the United States, Spain, France, Italy, the United Kingdom, India and Canada. The new roadmap will be focused on reinforcing its differential value proposition, the commitment to innovation and sustainability and boosting sales through a major expansion of its store park and the growth of all its channels.
In addition to the expansion of its board of directors mentioned at the beginning, Mango also reinforces its stability and long-term project with the entry into its share capital of the company’s CEO, Toni Ruiz, who as of this December will become as a shareholder, with a 5% stake in the capital.
40 years of fashion and online presence
Mango has experienced notable growth since its founding in 1984. Initially consolidated in the Spanish market, it rapidly expanded internationally, becoming Spain’s second largest fashion exporter in 1998. Over the years, the brand has diversified its lines, launching Mango Man, Mango Kids and Violeta by Mango.
For more than two decades, Mango has played a leading role in e-commerce since launching its platform in 2000. Initially operating in the 15 countries of the European Union, the company became one of the fashion pioneers in enter the world of electronic commerce in Europe. Over the years, it has followed a digital expansion strategy, incorporating new markets and adapting its services to the specific needs of each country. By the end of 2022, Mango’s presence in the digital world had expanded to 90 markets, and its online sales represented 36% of its total turnover, reaching €960 million in 2023.
The key to Mango’s success lies in its approach aimed at global expansion, with the availability of its website in 28 languages and the adaptation of payment, shipping and return methods according to the peculiarities of each territory. Additionally, as part of its omnichannel strategy, it also sells on third-party marketplaces. In this sense, Mango has expanded its digital operations in 2023 by partnering with Dafiti, the main fashiontech in Latin America and member of the Global Fashion Group (GFG).
The role of social networks
Mango actively uses social media and other digital platforms to engage with its audience. The presence on platforms such as Instagram, Facebook and X has contributed to strengthening the brand and keeping the audience informed about the latest trends and events.
On Instagram they show photographs with a sober style, with neutral colors so that the clothes that are seen by their 15.3 million followers stand out. They also share reels that show how to combine clothes with accessories or how the outfits would look in various situations.
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