Mango closed the 2023 financial year with an all-time record in sales, which exceeded 3.1 billion euros, representing a growth of 15% compared to 2022. The company also obtained an EBITDA of more than 530 million euros and a net profit of more than 172 million euros.
With a strategy based on constant innovation, the search for sustainability and a strong ecosystem of channels and partners, Mango has become one of the Europe’s leading fashion groups and one of the most important companies in the sector in terms of the number of countries in which it operates.
Consolidated Annual Accounts Annual Accounts 2023
Since its origins, Mango has had a clear vocation for exporting. Founded in 1984, Mango reached the total of one hundred stores in Spain in its first eight years of existence and, in 1992, the company expanded internationally with the opening of two stores in Portugal.
In 2023, the company has accelerated the development of its stores network, consolidating its commitment to the physical channel with more than 130 net store openings and 80 store refurbishments to reach a total of nearly 2,700 stores in more than 120 markets worldwide.
Stability, dialogue, training and recognition are pillars on which the company works every day as transforming agents to face new challenges and achieve key objectives. At Mango we aim to continue to be a committed company, where people can grow and develop professionally.
For this reason, we have an attractive and differentiated value proposition for attracting and retaining talent based on the company's values, training and development, pay and benefits for our employees.
Mango created its sustainability department in 2002, being a pioneer in the fashion industry. Initially, the department's focus was on the social sphere, but over the years the environmental aspect gained weight. Currently, the team is made up of more than 20 people with different profiles and organized into three major areas: environment, circularity, and social compliance. In 2022, Mango presented its sustainability strategy, the Sustainable Vision 2030, aimed at reducing the company's environmental and social impact.
As a fashion benchmark and with product and design at the heart of our business, Mango's vision is based on achieving a more sustainable collection, prioritising materials with a lower environmental impact and incorporating circular design criteria in our products. In the social sphere, Mango also stood out for being the first large Spanish company to provide transparency in the value chain by making public our list of manufacturers and suppliers of fabric, fittings and partial yarns.
The ambition to reach the whole world and to be closer to our customers made Mango detect the great potential of the Internet from the very beginning. So much so that in 1996 we created our website and in 2000 our e-commerce, ten years before our competitors.
Mango was the first Spanish company to open up to online sales and one of the first in Europe. By the end of 2023, the online channel has consolidated its growth, exceeding 1 billion euros in turnover for the first time, which represents 33% of the group's total turnover, one of the highest percentages in the industry.
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