THE RETAIL BULLETIN - The home of retail news
Home Page
News Categories
Christmas Ads
Commentary
Department Stores
Electricals & Technology
Entertainment
Fashion
Food & Drink
General Merchandise
Grocery
Health & Beauty
Home & DIY
Interviews
Property
Retail News
Retail Solutions
Shopping Centres, High Streets & Retail Parks
Sports & Leisure
Retail Events
THE Retail Conference 2022
Retail Women In Leadership 2022
Digital Transformation Strategy 2022 Part 2
Omni Channel Futures 2023
Upcoming Retail Events
Past Retail Events
Retail Insights
Retail Solutions
Advertise
About
Contact
Subscribe for free
Terms and Policies
Privacy Policy
Mango profits soar

Mango has seen profits soar to the highest level in almost a decade as its turnover neared record 2019 levels. The company reported growth of 21.3… View Article

FASHION

Mango profits soar

Mango has seen profits soar to the highest level in almost a decade as its turnover neared record 2019 levels.

The company reported growth of 21.3 percent to 2.234 billion euros, with online sales accounting for 42 percent of turnover. Profits rose to 67 million euros, trebled from the 21 million euros it saw in 2019.

Mango CEO, Toni Ruiz, said in a statement: “The 2021 results demonstrate the positive evolution of the company in recent years and is the result of the hard work of the entire team. Today, Mango is in an optimal position to face the future by promoting our brand and our product, remaining at the service of our customers and continuing our journey towards sustainability and operational excellence.”

Mango said demand for childrenswear grew 60 percent over 2019, with menswear, homewear and childrenswear accounting for 18 percent of turnover. Womenswear remains the company’s best category with a share of 82 percent.

“The year 2021 was also full of challenges and uncertainty, but we used the strength of the Mango brand to reinforce our position in the market, and at the same time increase our profitability, as we had promised,” Ruiz iterated.

In 2021, Mango investment rose to 45 million euros, representing an increase of 63.6 percent compared to the previous year. The majority of these resources were spent on accelerating its online transformation and refurbishing the store network.

Email this article to a friend

You need to be logged in to use this feature.

Please log in here

Subscribe For Retail News

THE NEXT EVENT

See all upcoming events

LATEST VIDEO

UKG LifeWork ALL: Register your place now to hear more. RETAIL HR 21 Sept LONDON
UKG LifeWork ALL: Register your place now to hear more. RETAIL HR 21 Sept LONDON

Watch video >