The Glossy 50 honors the year’s biggest changemakers across fashion and beauty. More from the series →
Under the leadership of CEO Toni Ruiz, 2024 has been a year of milestones and growth for Mango. Along with celebrating its 40th anniversary, the brand achieved record-breaking revenue, crossing €1.5 billion ($1.58 billion) in the first half of the year.
“We closed 2023 with over €3 billion in turnover, and 2024 has brought us the best first six months in our history,” said Ruiz. “We don’t just sell clothes; we create fashion with a unique value proposition that’s entirely designed in-house in Barcelona.”
Since March, Mango’s focus on quality and craftsmanship has been reflected in the launch of its Capsule and Selection premium collections, as well as its collaborations with high-profile names like Victoria Beckham and Italian tailoring house Boglioli.
“These partnerships are part of our 4E Strategic Plan to elevate Mango’s positioning by focusing on quality and aspirational design,” Ruiz said. “They allow us to democratize major fashion trends while maintaining our commitment to superior quality.”
The brand’s U.S. expansion has also been a major driver of growth, with the country now among Mango’s top five markets. “We’ve surpassed our goal for 2024, reaching 42 owned U.S. stores, with plans to expand to 65 by the end of 2025,” said Ruiz. The brand’s focus is on the country’s Sun Belt and Northeast regions, with openings in Washington, Illinois and Arizona planned for next year.
In addition, Mango’s expanded digital presence has been a “game-changer,” with online sales now representing over 30% of the company’s total revenue, Ruiz said. In 2024 alone, Mango entered 12 new online markets, expanding its reach to over 120 countries.
Technology is at the heart of Mango’s operations, with the company implementing over 15 machine-learning platforms to optimize everything from pricing to customer personalization. Ruiz said AI-powered tools like Mango’s internal generative AI platform, Lisa, are essential for staying competitive. Lisa AI is a conversational platform that assists with tasks including collection development and after-sales service.
Looking ahead, Ruiz is confident in Mango’s continued growth. Goals under the 4E Strategic Plan include surpassing €4 billion in revenue and reaching 500 stores globally by 2026. “By staying true to our values of quality, innovation and customer-centricity, Mango will continue to thrive as a leader in the global fashion landscape,” he said.
