Mango Reports Strong Growth In 2024 With Record Turnover Of €3.339 Billion

Mango, a leading international fashion brand, has reported a significant increase in all key financial indicators for the 2024 financial year. The company’s turnover reached €3.339 billion, marking a 7.6% increase from 2023. At constant exchange rates, turnover rose by 11.6%, outperforming the market average. Gross operating profit (EBITDA) grew by 19% to €636 million, while net profit increased by 27% to €219 million.

The growth in turnover was accompanied by a stronger gross margin of 60.7% of sales, reflecting improved profitability.

Toni Ruiz, Chairman and CEO of Mango, stated, “We are very pleased with our 2024 performance. Sales have grown by 7.6%, and profitability has significantly improved, with EBITDA increasing by almost 20% and net profit by 27%. This reflects the strength of our value proposition and the resilience of our business model.”

Strategic Investments Driving Growth 
Mango invested €219 million in 2024—part of the €600 million earmarked in its 2024–2026 strategic plan—representing the highest annual investment in the company’s history and a 17% increase over 2023. Investments focused on expanding and modernizing the store network, enhancing logistics capacity, adopting new technologies and establishing the new Mango Campus.

“In 2024, we have strengthened our value proposition by investing in stores, technology, logistics and the Mango Campus. We are at the best moment in our history and are investing to take Mango to a new level of growth,” Ruiz added.

Strong Performance Across Business Segments and Regions 
Mango’s strategic plan, guided by the 4E framework, has driven growth across all business lines:

• Woman remains Mango’s core segment, contributing 79% of total turnover.
• The Men, Kids, and Teen lines delivered above-average growth, accounting for 21% of total turnover.

Mango opened over 260 stores in 2024, surpassing half of its goal of 500 store openings by 2026. At the end of the year, Mango operated close to 2,850 stores in over 120 markets.

• Physical store sales reached nearly €2.2 billion.
• Online sales totaled almost €1.1 billion, representing one-third of total turnover.
• Mango’s international business accounted for 78% of total revenue, with Spain, France, Turkey, Germany and the US as the top-performing markets, followed by Italy, UK and Portugal.

Workforce and Employee Development 
Mango expanded its workforce by over 900 employees in 2024, surpassing 16,400 employees globally. The company provided more than 500,000 hours of training and promoted over 800 employees internally, reinforcing its commitment to employee development and diversity.

Advancing Sustainability and Social Responsibility 
Mango made significant strides in sustainability and social responsibility in 2024:

• Achieved 72% use of low-impact fibres, with 25% from recycled materials.
• Introduced regenerative cotton into collections through a partnership with Materra.
• Nearly one-third of Mango’s garments are now eco-designed.
• Continued to support social action programmes focused on education, social aid and health.

Mango remains on track to meet its 2024–2026 strategic plan goals, targeting a turnover of over €4 billion by 2026, while reinforcing its commitment to quality, in-house design, innovation and sustainability.