Mango ranks US among top five markets following rapid growth

Toni Ruiz, Mango’s executive president and CEO, said that the U.S. now ranks as one of the Catalan label’s five most important global markets, after Mango recorded rapid growth in the country.

Ruiz emphasised how much Mango has grown in North America, defining the label’s performance as “one of the fastest growth spurts that can be remembered in that market.”

Ruiz spoke on Thursday during the fifth edition of the Retail and Consumer Goods Forum organised by Spanish business daily El Economista.

Ruiz recalled that, in May 2022, Mango used to operate seven stores in the U.S., where it intends to continue to expand in the medium term. “The U.S. is really a medium-term challenge, and it is one of our top five markets,” said Ruiz.

He also stated that Mango’s market shares worldwide are “relatively small,” and that in Spain the label’s market share doesn’t exceed 3%, despite the high level of brand recognition it enjoys.

Ruiz underlined that Mango has great potential in Europe, a market that accounts for 70% of the label’s revenue and where it still has “a long way to go,” especially in countries such as France, Italy, the UK and Germany. He also said that Turkey is a country of significance for the label, because Isak Andic, founder of Mango, who passed away in December last year, was born there.

Ruiz said he is confident that Mango is on track for reaching a revenue of €4 billion in 2026, having broken its revenue record last year and having grown from €2.3 billion before the pandemic to €3.3 billion.

Mango, owned by the Andic family, has opened more than 150 new stores so far this year, making it a total of 800 openings since 2019.

Ruiz underlined the importance of Isak Andic’s legacy, describing Andic’s death as an “irreparable loss” both professionally and personally, and said he is grateful for what he learnt from him and for having had the “privilege” of working alongside him for a decade.

Ruiz pointed out that a “healthy ambition” to believe that “everything is possible,” the ability to reinvent oneself and adapt to the environment, and the value of business culture, are three fundamental lessons that have been applied within Mango in recent years.

He added that Mango has a “very well established” equity structure and a “first-rate” corporate governance, as well as a strategic vision for the medium term, elements that Ruiz believes place the company “in an ideal position.” Ruiz said that “we are optimistic about the future.”

Finally, Ruiz said he wishes that Mango will continue to be a relevant company in the fullest possible sense, highlighting as a priority that customers continue to perceive the brand as creative and closely connected to fashion.