Spanish Fashion Co Mango's Sales Rise 8% in 2024
Mango reported an 8% increase in sales for 2024, reaching 3.33 billion euros, largely driven by its international expansion efforts, particularly in the United States. The company, now focusing on premium partywear, saw net profits soar by 27% and gross margins hit 60.7%, reflecting its successful strategy against competitors like Zara. With plans to expand its U.S. footprint by opening over 60 new stores by 2025, Mango aims to reach 4 billion euros in sales by 2026.
- This growth trajectory highlights the increasing competitiveness of European fashion brands in the U.S. market, suggesting that a shift in consumer preferences towards premium offerings may reshape the industry landscape.
- What strategies will Mango implement to differentiate itself further from established competitors as it expands in the U.S. market?