The past few years have been rather difficult for Mango. An aggressive restructuring plan sent the business into the red in 2016. While losses have improved, the brand is now struggling to make profits through a massive transformation. Mango is expecting to end the year with positive results across all key performance indicators. “In 2016 we had a net debt of €617 mlns, in 2018 we reduced it to €315 million – CEO Toni Ruiz said – and last year Mango signed an agreement with its lenders to refinance €500 million of debt through a syndicated facility with a five-year maturity. This allows us to restructure our debt ahead of the next few years. And we will be able to pay off our debt commitments in the short term. We are also investing in technology and big data. Being a fashion company, leveraging data is increasingly important to improve our product, operations and marketing. We have enough projects and plenty of ideas to continue Mango’s transformation as a large company”. Among other developments, in November, the company announced it was issuing debt for the first time in its history on the alternative fixed-income securities market (MARF). Looking to the future, the new distribution centre in Lliçà d’Amunt, Barcelona, is a key part of the company’s growth strategy. The logistics centre allows to provide the premium service that customers have come to expect. .
