Mango makes profit

Over the year of 2009, Spanish retailer Mango made a turnover of 1,480 million euros, representing retail sales excluding VAT by company and franchise-owned stores. In addition, the turnover for the Mango/MNG Consolidated Group was 1,145 million Euros, representing the figure for retail sales excluding VAT of Mango stores, plus wholesale to franchises.

In 2009, Mango opened 161 new stores: 8 in Spain and 153 abroad. Markets in Eastern Europe, the Middle East and Asia were consolidated, and the brand opened its first stores in Iran, Iraq, Belorussia and Guatemala. China remains Mango’s biggest challenge. The brand is planning to open 59 points of sale in the country. In addition, company presence within Asia has been strengthened with new openings in South Korea, Singapore and India with two new stores opening in New Delhi international Airport. Europe also remains an important market, with new stores opening in Germany, Austria, Italy, Holland, Belgium, France, Sweden, Switzerland and the UK. Mango is also increasing its presence in Latin America with store launches in Venezuela, Chile, Peru and Mexico. On a whole, 78% of the turnover corresponds to foreign markets and the remaining 22% to the Spanish national market.

In 2009, the turnover from online sales was 11.7 million Euros. Customers from the majority of Europe, the US, Canada, Japan, Turkey and Korea can now shop online while China and Russia are expected to be added to this list in 2010.

For the future, the company will be opening its first ever stores in Mauritius and New Caledonia this year and plans to invest 100 million Euros. The brand plans to open 150 more stores in locations such as Belgrade, Berlin, Bogota, Caracas, Dubai, Istanbul, Kuwait, Lyon, Marrakech, Melbourne, Milan, Moscow, Paris and Beijing, among others.

Image: Mango