Mango Reports 8% Sales Growth in 2024 Amid U.S. Expansion | 2025
Mango Reports 8% Sales Growth in 2024 Amid U.S. Expansion
MADRID (Reuters) – Spanish fashion retailer Mango has announced a remarkable 8% increase in sales for the year 2024, reaching a total of 3.33 billion euros (approximately $3.62 billion). This growth can be attributed to the company’s strategic international expansion, particularly its focus on the United States, a move that mirrors the successful approach of its competitor, Zara.
Strategic Growth and Market Positioning
As Spain’s second-largest fashion retailer, Mango has successfully positioned itself as a premium brand, emphasizing partywear and maintaining higher price points compared to Inditex-owned Zara. The company has set ambitious goals, aiming to achieve 4 billion euros in sales by 2026. This target reflects Mango’s commitment to enhancing its market presence and expanding its customer base.
International Sales Dominance
Notably, 78% of Mango’s total sales are generated from its international stores, highlighting the brand’s successful global outreach. In 2024, the company invested 219 million euros to expand its retail network by adding 260 new shops, bringing the total number of stores to 2,800. This expansion is crucial for maintaining competitive advantage in the ever-evolving fashion industry.
Expansion Plans in the U.S.
Mango has outlined a clear plan to further penetrate the U.S. market, which ranks among its top five markets globally. The company intends to open more than 60 new stores in the U.S. between 2024 and 2025. This expansion follows the successful launch of its flagship store in New York in 2022, marking a significant return to the American retail landscape.
Leadership Changes and Future Directions
In a significant leadership transition, Mango’s chief executive, Toni Ruiz, has confirmed the company’s expansion plans in the U.S. Ruiz recently took over as chairman of the board, succeeding the late Isak Andic, the founder and owner of Mango, who tragically passed away in a mountain accident last December. This change in leadership is expected to bring fresh perspectives and strategies to the company’s growth initiatives.
Conclusion: A Bright Future Ahead
Mango’s impressive sales growth and strategic expansion plans signal a promising future for the brand. With a focus on premium offerings and a commitment to international growth, Mango is well-positioned to achieve its ambitious sales targets. As the company continues to adapt to market trends and consumer preferences, it remains a key player in the global fashion industry. For more details, you can read the original article here.
