Spain’s Mango Returns to Profitability and Nears 2019 Sales Levels – WWD

Mango, saying that it ended 2021 in its greatest monetary state in a decade, reported a internet revenue of 67 million euros for 2021, after dropping cash in pandemic-riddled 2020.

Final yr’s internet was greater than 3 times larger than the 2019 internet of 21 million euros.

Quantity reached 2.23 billion euros, a 21.3 p.c improve over the 1.84 billion euros generated in 2020, and near 2019’s turnover of two.37 billion euros.

“The 2021 outcomes show the constructive evolution of the corporate in recent times and are the results of the laborious work of your entire crew,” stated Toni Ruiz, chief government officer of the Barcelona-based style retailer.

“At the moment, Mango is in an optimum place to face the long run by selling our model and our product, remaining on the service of our prospects and persevering with our journey towards sustainability and operational excellence,” Ruiz added.

On-line gross sales final yr grew 23 p.c to 942 million euros, or 42 p.c of the overall quantity.

Though shops had been closed a mean of 48 days final yr because of the pandemic, the brick-and-mortar gross sales improved by 21.4 p.c in comparison with 2020, Ruiz stated. Mango has 2,447 shops worldwide. Final yr, there have been 226 internet retailer openings, together with flagships in London, Düsseldorf and Berlin, and 4 U.S. openings. The corporate has quickly ceased operations in Russia resulting from that nation’s invasion of Ukraine.

Spain represented 21 p.c of the overall quantity final yr; the remainder of the world 79 p.c. Mango has a presence in 110 markets all over the world.

Ladies’s style accounted for 82 p.c of the quantity; males’s, youngsters, teenagers and residential accounted for a mixed 18 p.c.

The corporate highlighted youngsters as performing “notably effectively” with a 60 p.c improve in gross sales over 2019.

Earnings earlier than curiosity, taxes, depreciation and amortization reached 423 million euros, which the corporate stated was effectively above preliminary forecasts and greater than twice the EBITDA of 2020.

Mango additionally elevated sustainability efforts final yr, together with turning into extra clear by itemizing the Tier 1 and Tier 2 factories it really works with and doubling the share of sustainable clothes in manufacturing to 80 p.c of the gathering. This yr, the corporate’s objective is to additionally listing Tier 3 factories and have all of its clothes designated “dedicated,” which means the gadgets include at the least 30 p.c extra sustainable fibers and/or have been manufactured with extra sustainable manufacturing processes. As well as, Mango stated that final yr it stepped up waste discount efforts.

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