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Mango has announced a new strategic plan and improved corporate governance for 2024 as it looks forward to celebrating its 40th anniversary next year.
The company anticipates reaching the € 3 billion revenue threshold by the conclusion of the fiscal year, having recorded a revenue of € 2.688 billion in 2022. “This signifies double-digit growth and a positive trend across all retail channels, including our online platform,” the fashion company said.
Looking ahead its 40th anniversary in 2024, Mango gives a sneak peek at the current year and declares in March that it will unveil a new strategic plan that will last until 2026. “The new roadmap will focus on reinforcing our unique value proposition, commitment to innovation, sustainability, and boosting sales through extensive store expansion and channel growth,” business executives stated.
A strong expansion strategy with 500 shop openings is part of Mango’s 2024–2026 strategic plan. The company will concentrate its efforts on important markets like the US, Spain, France, Italy, the UK, India, and Canada.
The Barcelona-based firm plans to open over 20 retail sites nationwide by the end of 2023, one of the highlights of which will be its debut into new states like Texas, Georgia, or California. In total, the business has opened 130 new locations and renovated an additional 80, running close to 2,700 points of sale in 115 cities. Mango operates in 110 markets through its internet channels, having extended its digital distribution to 20 additional nations.
The brand’s 2023 premium collections included the “Capsule” line, which is designed for formal occasions and is renowned for its exquisite clothing made with premium fabrics and finishes.
This year, as part of its sustainability initiative, the brand debuted its first denim line, which was created “with the aim of making garments more easily reusable and recyclable after their lifecycle, thus promoting a second life for the products.”
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