The change that Toni Ruiz, newly appointed CEO of MangoHe has driven since his arrival at the company in 2015 and has paid off. The second fashion brand of Spain behind the giant Inditex it leaves behind the red numbers that have marked it for three consecutive exercises. The company went into losses in 2016, the year in which it shot up its debt to 618 million euros, and suffered the first drop in sales in recent years.
“We have transformed the company,” Ruiz congratulates himself on the numbers obtained. The billing in 2019 has grown 6%, up to 2,374 million euros – the all-time high -, gross profit amounts to 41 million and ebitda has grown 59%, reaching 194 million euros. “In parallel, we have reduced the debt to 184 million euros, the lowest level in the last ten years,” continues Ruiz.
The company invoices 2,374 million euros and reduces its debt to 184 million
Mango’s CEO has modernized the company. “When I entered Mango I found a highly leveraged company, there had been heavy investments, the internal government did not correspond to that of a multinational and the DNA of the product had become blurred; we have changed this, we have recovered the DNA of Mango and we have put more science, with a special attention to big data Ruiz stresses. Is he Mango’s future? “The future is Isak Andic,” he replies.
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