Four decades of Mango…here’s what the future holds

December 22, 2023 | By RetailME Bureau

Isak Andic, Non-executive Chairman and Toni Ruiz, Chief Executive Officer, Mango

Founded in Barcelona in 1984 by Isak Andic, global fashion brand Mango is all set to commemorate four decades in business with a forecast to achieve record sales in 2023 in the excess of EUR3 billion – versus EUR2.68 billion in 2022 – and a network of close to 2,700 stores worldwide. This represents double-digit growth and positive performance of all channels, including online sales.

Throughout 2023, Mango has expanded its online sales to 20 new countries to exceed 110 markets worldwide and has consolidated its commitment to its physical channel with over 130 net store openings and 80 store refurbishments since the start of the year, to reach 2,700 points of sale in over 115 markets worldwide.

During 2024 Mango will promote various initiatives that will increase the stability and solidity of the Group, such as the presentation of its 2024-26 Strategic Plan in March. The new roadmap will focus on strengthening its differentiated value proposal, commitment to innovation and sustainability and driving sales through the major expansion of its store network and the growth of all its channels. Consequently, until 2026 the company will implement an ambitious expansion plan, with close to 500 new store openings, focusing its efforts on key markets such as the US, Spain, France, Italy, the UK, India and Canada.

In 2024 the company will strengthen its corporate governance with the enlargement of its Board of Directors which, from March, will increase its composition from four to nine members. The new Board of Directors of Mango will be made up of Isak Andic, Non-executive Chairman; Toni Ruiz, Chief Executive Officer; Jonathan Andic, Daniel López and Margarita Salvans, as executive board members; and four independent board members: Jordi Canals, Professor and Chairman of the Centre for Corporate Governance of the IESE Business School; Jorge Lucaya, a founding partner of AZ Capital; Jordi Constans, Director and former director of various national and international companies; and Marc Puig, Chairman and Chief Executive Officer of Puig.

“It is a historic moment for our company. The transformation of the Board of Directors and the contribution of new independent board members, who enjoy great recognition and experience and a global vision, will drive the strategy and business of Mango, while strengthening the institutionalisation of our organisation,” Andic stated.

With regard to sustainability, Mango has taken one step further with the launch of its first denim collection designed with circularity criteria, in order to make the garments easier to use and recycle after their useful life, in this way promoting a second life for products.

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