Mango: Fashion giant creates 150 UK jobs as sales and profit jump

The UK arm of fashion giant Mango created almost 150 jobs as its sales and profit jumped during 2023, new figures have revealed.

The brand’s turnover increased from £104.3m to £120.8m in the year while its pre-tax profits went from £373,589 to £5.4m.

A new filing with Companies House also shows that its headcount went from 508 to 645 during the 12 months.

The business is the UK arm of the Spanish fashion giant which can trace its roots back to the mid-1980s.

The wider group is not expected to report its full-year results until next month.

However, at the end of 2023, it was reported that Mango expected to report a turnover of more than €3bn.

For 2022, the wider group reported a turnover of €2.6bn, a 20.3 per cent increase, and a pre-tax profit of €103.3m, a 26.2 per cent rise.

A statement signed off by the UK company’s board said: “The directors hope for growth in the future as well as to improve the financial results of the company.

“It is expected that online activity will stabilise while store sales continue to grow.

“The current economic conditions create uncertainty over the level of the demand for the retail sector.

“The company mitigates these risks by monitoring the business plan in order to control any possible deviation and to achieve the annual sales target.

“Notwithstanding the above, the directors believe that the company is in a position to successfully manage its business risks and are satisfied with the company’s strategy for continued trading in the UK.”