Mango hits ‘record’ sales top $3 billion in 2023

Spanish fashion retailer, Mango has achieved a significant milestone by concluding 2023 with record-breaking sales. By achieving unprecedented sales that catapulted over $3.28 billion. In line with its strategic vision, Mango has announced ambitious plans to open 500 new stores by 2026, targeting key markets such as the United States, Canada, France, Italy, the United Kingdom, India, and Spain.

This expansion strategy is bolstered by the brand's strong performance in these regions, with notable growth in the U.S., where it plans to establish a more significant presence. The company's target audience, young women aged between twenty to thirty-five, have shown an enthusiastic response to Mango's offerings, which align with the latest fashion trends. This demographic's keen interest in fashion has been pivotal in driving the brand's success.

Toni Ruiz, CEO of Mango, believes that "in a very competitive environment, Mango has managed to significantly increase its sales, achieving the best results in the company's history, with a turnover above 3 billion euros for the first time. Our clients value and appreciate. The work carried out in recent years is bearing fruit: we are growing above the market, we are profitable and we are financially healthy”.

Mango's U.S. expansion includes opening its first store in Texas, marking a continued push across the country. The brand's American footprint already features locations in New York, Florida, Georgia, and California, with plans to debut in Washington, D.C., and Pennsylvania. By 2024, Mango aims for the U.S. to become one of its top five markets in terms of turnover.

The company's online channel has also seen impressive growth, contributing significantly to its overall business. With a robust ecosystem of channels and partners, Mango continues to innovate and invest in technology, logistics, and store development to support its growth trajectory.