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The company accelerated the growth of its stores network in FY22, with a net addition of 119 stores, bringing the total to 2,566 across 115 markets. Mango also expanded its international footprint, adding Cameroon and Morocco to its online presence in 90 markets.
The Mango online store achieved a turnover of €960 million, which is 36 percent of the company’s total turnover. Mango said in a press release that the online store closed FY22 with 232.1 million users and over 885 million visits.
Spanish fashion giant Mango has reported record sales for FY2022 (FY22) with a turnover of €2.688 billion, a growth of 20.3 per cent over FY21 and 13.2 per cent over FY19. This increase in sales was accompanied by a significant increase in profitability, with a net profit of €81 million, up 20.9 percent year-on-year (YoY).
Mango’s women’s clothing line remained the main driver of sales, accounting for 82 percent of total turnover, but the men’s and children’s lines saw strong growth in FY22, with men’s sales rising 30 percent to nearly €300 million. And children’s sales increased by 18 percent to more than €200 million.
The company’s gross profit stood at 56.9 per cent at the end of FY22, compared to 58.2 per cent in FY21, but gross operating profit (EBITDA) increased by €14 million to €436.62 million.
Spain accounts for 22 percent of the company’s total turnover, with the remaining 78 percent coming from the rest of the world, with France, the United Kingdom and Italy being the major regions. Mango highlighted the US and India as strategic countries for the current financial year.
Home, Mango’s new home goods line, which celebrated its first year of existence in 2022, has more than doubled in size, with a turnover of over €5 million.
The company’s forecasts for FY23 include taking the online business to over 20 new markets during the first half of the year, particularly in the continent of Africa and in countries such as Brazil, where the company has entered into an agreement with local partner Dafiti. Signed. , which is part of the Global Fashion Group (GFG), to start selling mangoes in the country.
“At Mango, we have consolidated ourselves as one of Europe’s leading fashion groups. We have demonstrated the validity and strength of our business model based on a unique ecosystem of channels and partners. Over the years, we have recovered our essence in all departments of the company with unique design as the starting point and innovation as the core value. Mango CEO Tony Ruiz,
Fibre2Fashion News Desk (DP)