<p>Spanish fashion retailer Mango's sales hit a record 2.68 billion euros ($2.8 billion) last year, exceeding pre-pandemic levels by 13 per cent as shoppers kept spending on clothing amid high inflation and as the company expanded in the United States and India.</p>.<p>"We capitalised on the end of the (Covid) restrictions and the return to normality last year with a push for new shops," Toni Ruiz, the CEO of the privately owned retailer, told a news conference.</p>.<p>Revenue at Mango, which is a rival of Spanish Inditex-owned label Zara, rose 20 per cent from a year earlier, with both in-store and online sales benefitting from consumers' post-pandemic appetite for clothes, despite tough competition in the apparel business.</p>.<p>Its net profit rose 21 per cent to 81 million euros ($85.66 million).</p>.<p>Mango began to increase its presence in India and opened a flagship store in New York in May, one of nine new shops opened in the United States last year and of 119 outlets in all its markets.</p>.<p>"The United States is a great market and should become one of our top five very quickly," Ruiz added. It will expand the number of U.S. stores to 40 by 2024.</p>.<p>In 2023, Mango is planning to open 35 new stores in India, its leading market in Asia where it will have 110 outlets.</p>.<p>Last year Mango started to transfer the 55 shops it was directly operating in Russia, which is under Western sanctions over the invasion of Ukraine, to local partners.</p>.<p>While 30 shops permanently closed, Mango said it remained present in 90 stores in Russia under franchise agreements.</p>.<p>The company has 2,566 outlets worldwide and expects to open more shops in 2023 than last year, but only a third will be company-owned.</p>.<p>Mango, which has lately pushed to produce more in nearby countries such as Turkey, said most of its suppliers were not affected by the Feb. 6 earthquake.</p>.<p>($1 = 0.9456 euros)</p>
<p>Spanish fashion retailer Mango's sales hit a record 2.68 billion euros ($2.8 billion) last year, exceeding pre-pandemic levels by 13 per cent as shoppers kept spending on clothing amid high inflation and as the company expanded in the United States and India.</p>.<p>"We capitalised on the end of the (Covid) restrictions and the return to normality last year with a push for new shops," Toni Ruiz, the CEO of the privately owned retailer, told a news conference.</p>.<p>Revenue at Mango, which is a rival of Spanish Inditex-owned label Zara, rose 20 per cent from a year earlier, with both in-store and online sales benefitting from consumers' post-pandemic appetite for clothes, despite tough competition in the apparel business.</p>.<p>Its net profit rose 21 per cent to 81 million euros ($85.66 million).</p>.<p>Mango began to increase its presence in India and opened a flagship store in New York in May, one of nine new shops opened in the United States last year and of 119 outlets in all its markets.</p>.<p>"The United States is a great market and should become one of our top five very quickly," Ruiz added. It will expand the number of U.S. stores to 40 by 2024.</p>.<p>In 2023, Mango is planning to open 35 new stores in India, its leading market in Asia where it will have 110 outlets.</p>.<p>Last year Mango started to transfer the 55 shops it was directly operating in Russia, which is under Western sanctions over the invasion of Ukraine, to local partners.</p>.<p>While 30 shops permanently closed, Mango said it remained present in 90 stores in Russia under franchise agreements.</p>.<p>The company has 2,566 outlets worldwide and expects to open more shops in 2023 than last year, but only a third will be company-owned.</p>.<p>Mango, which has lately pushed to produce more in nearby countries such as Turkey, said most of its suppliers were not affected by the Feb. 6 earthquake.</p>.<p>($1 = 0.9456 euros)</p>