Spanish fashion co Mango's sales rise 8% in 2024

Reuters

Mon, Mar 10, 2025, 4:05 AM 1 min read

MADRID (Reuters) - Spanish manner retailer Mango reported connected Monday an 8% summation successful income successful 2024 to 3.33 cardinal euros ($3.62 billion), arsenic it benefitted from an planetary enlargement with a absorption connected the United States, akin to that pursued by its rival marque Zara.

Spain's second-largest manner institution that has positioned itself arsenic a premium retailer focusing connected partywear and with higher prices than those of Inditex-owned Zara, has said it aims to scope 4 cardinal euros successful income by 2026.

Its nett net roseate 27% to 219 cardinal euros, portion gross borderline reached 60.7% successful 2024.

The unlisted institution said that 78% of its full income came from its planetary stores and it invested 219 cardinal euros to adhd 260 caller shops to its web of 2,800 successful 2024.

Mango has an ongoing program to grow its shops successful the U.S., 1 of its apical 5 markets, by opening much than 60 stores betwixt 2024 and 2025, aft its instrumentality to the state with its archetypal flagship store successful New York successful 2022.

The institution main enforcement Toni Ruiz confirmed the program to grow stores successful U.S. aft becoming president of the board, replacing Mango's laminitis and owner, Isak Andic, who died successful a upland mishap past December.

($1 = 0.9202 euros)

(Reporting by Corina Pons and Albert Gia, editing by Andrei Khalip)