Mango‘s headquarters in Palau-solità i Plegamans set the stage for a historic 2024 financial results presentation on March 10. It was the company’s first major event since the passing of its founder, Isak Andic, who tragically died in a mountain hiking accident in December 2023.
Mango’s headquarters in Palau-solità i Plegamans, Barcelona. – Fashion Network
“Today is an emotional day—it’s the first time we gather here without Isak Andic,” said Toni Ruiz, Mango’s chief executive officer and newly appointed president, as he opened the presentation.
Ruiz expressed his gratitude for the support and condolences received in recent months. “Isak built a unique culture that defines us. We owe everything to him, and now more than ever, we are committed to taking Mango to new heights—staying true to our vision of a brand that blends fashion, quality, and design,” he stated.
While 2024 brought its share of challenges, including political instability and supply chain disruptions, Ruiz emphasized that Mango had a standout year—the first under its 2024-2026 strategic roadmap, ‘Plan 4E’.
“Mango is stronger than ever. We have a clear roadmap, ambitious goals, and exciting opportunities ahead,” he said, reinforcing the company’s target of reaching €4 billion in revenue by 2026.
The executive also underlined the resilience of Mango’s business model, stating, “Once again, this year proved the strength of our brand, the success of our strategy, and the solid foundations we’ve built.”
Investing in growth and expansion Margarita Salvans, Mango’s chief financial officer, described 2024 as “a transformative year of growth”, strengthening the company’s position in the global market.
“Our financial stability allows us to keep making bold investments—expanding our store network, strengthening our tech capabilities, and scaling up logistics,” she noted.
During the event, Toni Ruiz expressed his gratitude to the board of directors, which recently appointed him as president of the group. Having joined Mango in 2015, Ruiz has been chief executive officer since 2019 and also holds a 5% stake in the company.
U.S. market strategy and tariff impact In an interview with Reuters, Ruiz shared insights on Mango’s approach to U.S. trade tariffs, as the American market ranks among the company’s top five globally.
Despite potential cost pressures, Mango does not plan to increase prices to compensate for tariffs, which may affect profit margins. Instead, the company is considering expanding its premium offering to boost profitability.
“We’ll adapt as the situation evolves,” Ruiz told Reuters. “At this stage, there are no plans for U.S.-based production, but we constantly assess our sourcing and supply chain strategy.”
The executive reaffirmed Mango’s commitment to reaching €4 billion in sales by 2026, staying true to its ambitious expansion goals.
“As Isak always said, we are just getting started. The best chapters of our story are still to come,” Ruiz concluded.
