Spanish News | Mango Makes A Profit

The Spanish retailer Mango ended 2012 with profits of 113.4 million euros .This was 79% more than at the end of 2011 which was 63 million and turnover rose by 20% to 1.6 billion euros , 84% of which was earned outside Spain .

In 2013 the company is expecting turnover to reach 1.98 billion and rise to 4.7 billion by 2017 . Mango´s founder and chairman , Isak Andic has said that he wants to see turnover increase fivefold .

It is expansion outside Spain which is largely responsible for this progress , after a period of decline .Sales in the company´s own stores fell from 885 million to 602 million in 2012 .Franchises brought in 1.1 billion compared with 522 million in 2011 .

In the USA and Saudi Arabia the turnover comes predominantly from franchises as it does to a lesser extent in China . Children´s wear, women´s sportswear and underwear have been added to the range this year while there are new lines proposed for teenagers and larger sizes are also planned for 2014 .944 new jobs were created by Mango last year .

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