Mango, the renowned fashion brand, anticipates a historic sales milestone, projecting revenues to exceed €3 billion by the close of 2023. The company, preparing for its 40th-anniversary celebrations in 2024, is set to reveal a new strategic plan spanning from March 2023 to 2026. This roadmap emphasizes strengthening Mango’s unique value proposition, innovation commitment, sustainability initiatives, and boosting sales through extensive retail expansion and channel growth.
Key Highlights of Mango’s Strategic Plan (2024-2026):
- Robust Expansion: Mango aims for a formidable expansion with plans to open 500 new stores, focusing on pivotal markets such as the United States, Spain, France, Italy, the United Kingdom, India, and Canada.
- Geographical Focus: The company’s strategic initiatives include entering new U.S. states, including Texas, Georgia, and California, with a target of exceeding 20 retail locations by year-end.
- Global Presence: With 130 new store openings and refurbishments of 80 locations, Mango currently operates nearly 2,700 points of sale across 115 markets.
- Digital Reach: In the realm of online channels, Mango expanded its digital distribution to 20 new countries, operating in 110 markets through this dynamic channel.
2023 Milestones:
- Premium Collections: Mango showcased its dedication to premium collections, featuring the «Capsule» line tailored for events and ceremonies, renowned for its exclusive garments made with high-quality materials.
- Sustainability Drive: A notable achievement in 2023 was the launch of Mango’s first sustainable denim collection, designed to facilitate easy reuse and recycling, promoting a second life for products.
Upcoming Corporate Changes:
- Board Expansion: In anticipation of corporate-level changes, Mango’s board will expand from four to nine members, enhancing its strategic leadership.
- CEO Becomes Shareholder: As a sneak peek into upcoming changes, Mango’s CEO, Toni Ruiz, is set to become a shareholder in December, holding a 5% stake in the company.
As Mango commemorates its four-decade journey in 2024, these strategic endeavors signal a commitment to innovation, sustainability, and continued global growth.
