• Revenue grew 20% to EUR1.69bn
  • Online sales increased 93% to EUR70m
  • Company expects online revenue to double in 2013

Spanish retail group Mango has recorded a jump in full year turnover as the group revealed ambitious expansion plans for 2013.

The company said that revenue reached EUR1.69bn (US$2.22bn), a 20% rise on the prior year. Some 84% of turnover came from foreign markets, with the remaining 16% from Spain.

Online sales reached EUR70m, a 93% increase over the prior year. The company aims to double online turnover in 2013, through its own website and by opening online concessions. It plans to expand into the Middle East and continue to expand into Asia.

In 2013, the retailer will continue to focus its expansion plans on Europe, with "megastore" concept outlets planned for Spain, Germany, Belgium, France, Holland, Italy, Poland and Russia.

It will also expand in South America with most new stores planned for Chile and Peru. It also plans to open an extra 40 stores over the next four years in both South Africa and Australia.

The company also plans to expand in the Middle East, Southeast Asia and the CIS countries. It will look to open 20 stores across Saudi Arabia, United Arab Emirates, the Philippines, Indonesia, Malaysia, Kuwait, Qatar and Thailand, with a further 10 stores planned for former Soviet Union countries.