SPAIN: Mango profit up 79% in 2012
Spanish retailer Mango saw full year profit shoot up during the 2012 financial year.
The company said net income rose 79% to EUR113.4m, as turnover rose 20% on the prior year to EUR1.7bn. In 2012, some 84% of sales came from foreign markets.
Mango also revealed in its CSR report that its production cycle lasts three to four months, from when the order is placed to when it is received.
The company said that during 2012, it used 192 suppliers with 415 factories to make garments and 72 suppliers with 100 factories to make accessories.
China was its largest sourcing base, accounting for 41.6% of product, while 12.4% came from Turkey, 9.4% from South Korea, 7.6% from Spain, while 5.8% from both Morocco and Bangladesh.
The company said that it found 18 factories each in Vietnam and Morocco to be violating its code of conduct, with violations mainly around healthy and safety in the workplace, overtime rulings and compliance with local government legislations.
In Cambodia, Mango discovered two factories violated its code of conduct, five factories breaking its rules in China, and eight in Turkey.
It also revealed the number of products that breached its chemical safety guidelines. It said five products were discovered to have arsenic, four to contain unacceptable cadmium levels and 29 used azoic dyes.
Some nine products had phenols, two contained chrome, 24 had higher than acceptable levels of formaldehyde, four had phtalates, six contained nickel, while 117 products were found to have higher than permitted levels of lead in them.
More than 170 companies have now signed the Accord on Fire and Building Safety in Bangladesh following the collapse of the Rana Plaza factory building in Dhaka, which killed more than 1,100 people las...
This report provides information, analysis and valuable insight on developments relating to the global apparel industry in the following categories: acquisitions, divestments and mergers; corporate so...
Reduced purchasing power is a reality in Spain. Low-cost retailers, such as Inditex, Mango, Primark and H&M are taking advantage of the situation, as they can more easily offer low prices compared to ...
Apparel & Non-Apparel Manufacturing in Spain industry profile provides top-line qualitative and quantitative summary information including: market size (value 2008-12, and forecast to 2017). The profi...
ARGO-Torgovelna Merezha TOV will be building its strategy around minimising the negative effects of rising competition between chained operators, especially if the country attracts a bigger number of ...
- Improved supplier capabilities benefit Next
- Next H1: What the analysts say
- China and Vietnam lead US apparel imports in July
- THE FLANARANT: Understand win-win or lose out
- US apparel retailers' August 2014 sales roundup
- Hanesbrands axes Costa Rican jobs in Vietnam move
- Brandix selects first "game-changing" innovations
- VF taps Nike exec to lead innovation centres
- Apparel fuels global manufacturing downturn
- Bagir to invest in Ethiopia as H1 loss deepens
- Wool in the 21st Century: new prospects for a familiar fibre
- Apparel Market in China to 2018 - Market Size, Trends, and Forecasts
- Global market review of denim and jeanswear – forecasts to 2020
- Global Database of the Top 1000 Apparel Producers - Company Names, Financial Performance, Key Executives, and Contact Details
- Global Database of the Top 1000 Cut and Sew Apparel Producers - Company Names, Financial Performance, Key Executives, and Contact Details