Spanish fashion behemoth Mango celebrates a successful year in the UK, with impressive growth in both employment and financial performance

In a significant boost to the UK fashion industry, Mango, the renowned Spanish fashion giant, has announced the creation of nearly 150 new jobs following a remarkable increase in sales and profits throughout 2023. The company’s UK division, based in London, reported a surge in turnover from £104.3 million to £120.8 million over the year, while pre-tax profits skyrocketed from £373,589 to a staggering £5.4 million.

The latest financial disclosure to Companies House also highlighted an expansion in the workforce, with the headcount rising from 508 to 645 employees over the same period. This growth underscores Mango’s commitment to the UK market and its role as a key player in the fashion industry.

Mango, with a rich heritage dating back to the mid-1980s, is part of a larger group that operates on a global scale. While the full-year results for the wider group are anticipated next month, it was revealed at the end of 2023 that Mango is expected to report a turnover exceeding €3 billion. This follows a successful 2022, where the group witnessed a 20.3% increase in turnover to €2.6 billion and a 26.2% rise in pre-tax profit to €103.3 million.

The UK company’s board expressed optimism for future growth and an improvement in financial performance. They anticipate that online sales will stabilize, while in-store sales will continue to flourish. Despite the current economic uncertainties affecting the retail sector, Mango is taking proactive measures to monitor its business plan and control any potential deviations to achieve its annual sales target.

The directors are confident in the company’s ability to navigate business risks and are satisfied with the strategic approach for continued trading in the UK. Mango’s success story in the UK is a testament to the brand’s resilience, innovation, and commitment to excellence in the ever-evolving world of fashion.