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CEO: Spanish Fashion Retailer Mango Adapting to US Tariffs

Mango company headquarters are seen before the presentation of their 2024 financial results in Palau-solita i Plegamans, north of Barcelona, on March 10, 2025. (Photo by Manaure QUINTERO / AFP)
Mango company headquarters are seen before the presentation of their 2024 financial results in Palau-solita i Plegamans, north of Barcelona, on March 10, 2025. (Photo by Manaure QUINTERO / AFP)
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CEO: Spanish Fashion Retailer Mango Adapting to US Tariffs

Mango company headquarters are seen before the presentation of their 2024 financial results in Palau-solita i Plegamans, north of Barcelona, on March 10, 2025. (Photo by Manaure QUINTERO / AFP)
Mango company headquarters are seen before the presentation of their 2024 financial results in Palau-solita i Plegamans, north of Barcelona, on March 10, 2025. (Photo by Manaure QUINTERO / AFP)

Spanish fashion retailer Mango is adapting to tariffs imposed by the Trump administration on imports from China and could rethink the types of products it sells in the US, which is its fifth-largest market, the company's chief executive said.
Mango does not plan to raise prices to offset the impact of tariffs, even though that could dent its margins, CEO Toni Ruiz said late on Monday in a joint interview with Reuters and French newspaper Les Echos at Mango's headquarters outside Barcelona.
But the retailer, which sells dresses from $49.99 to $359.99, is considering a range of higher-quality and more trendy clothes and accessories for the US market, Ruiz said. Higher-priced items typically have a greater profit margin, making it easier to absorb extra costs.
"We will see how it progresses and we will adapt," Ruiz added. "At the moment there are no plans to produce in the country itself (the US) but we will see how things evolve. It is a constant in our business to be constantly reflecting on sourcing, supply issues."
US President Donald Trump imposed fresh duties on Chinese goods last week after declaring China had failed to do enough to stem the flow of deadly fentanyl and its precursor chemicals into the United States.
Around 30% of Mango's products sold in the US are made in China, its biggest manufacturing hub globally, Ruiz said. Türkiye and India are its second and third-biggest sourcing countries globally. All shipments go through a logistics facility in Barcelona, from where the retailer decides what it sends to which markets.
Spain's second-largest fashion company has positioned itself as a premium retailer focusing on women's occasionwear, party dresses, and workwear, and has been expanding in the US at the same time as its bigger rival Zara, owned by Inditex.
Mango, which aims to reach 4 billion euros in sales by 2026, reported on Monday an 8% increase in sales in 2024 to 3.33 billion euros ($3.61 billion). Its net profit rose 27% to 219 million euros.
The family-owned unlisted firm returned to the US in 2022 and plans to open more than 60 stores in the country between 2024 and 2025. It aims for the US to be among its top three markets by next year, with Ruiz adding that he sees "enormous" potential for growth.
Mango has no current plans to return to Russia even if the war in Ukraine ends, Ruiz said.
Following Russia's invasion of Ukraine in 2022, Mango transferred the 55 stores it had in Russia to franchises. Last year, Mango had 97 points of sale in Russia run by franchises.

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Fashion

Fashion Commission, Saudi Retail Academy to Develop National Talent 

Fashion Commission, Saudi Retail Academy to Develop National Talent 
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Fashion Commission, Saudi Retail Academy to Develop National Talent 

Fashion Commission, Saudi Retail Academy to Develop National Talent 

The Saudi Fashion Commission signed a memorandum of understanding (MoU) with the Saudi Retail Academy to develop national capabilities and boosting specialized skills in the fashion and retail sectors, reported the Saudi Press Agency on Monday.

The MoU aims to support local talent and the creation of sustainable employment opportunities in this vital industry. It stems from the two sides’ keenness to cooperate in the fields of training and professional development.

The agreement was signed on the sidelines of the graduation ceremony of the academy’s first cohort.

The Fashion Commission focuses on developing local talent, transferring global expertise, and advancing the fashion sector in the Kingdom, while the Saudi Retail Academy is a non-profit institute and a specialized entity in training and development in the retail field and in building professional competencies and skills related to retail and sales.

The MoU aims to establish a framework for cooperation to design and implement specialized training programs that boost the readiness of national cadres and qualify them according to the highest professional standards, with a focus on developing skills in sales, customer experience, and store management to meet labor market requirement and the needs of the growing fashion sector.

Fashion Commission chief executive Burak Cakmak said that developing human capital is a fundamental pillar for the long-term growth of the Kingdom’s fashion sector.

The partnership reflects the commitment to strengthening the capabilities that form the foundation of a competitive and sustainable industry through investment in specialized skills within retail and customer experience, enabling brands to grow and supporting the sector’s confident evolution, he added.

Saudi Retail Academy chief executive Hend Al-Dhaban stressed that the partnership embodies a shared vision to empower national talent and elevate professionalism in the retail sector.

The agreement will help channel training expertise to meet the specialized needs of the fashion sector and equip young men and women with the practical skills required to succeed in the labor market, thereby boosting service quality and supporting localization targets and economic growth, she explained.

This cooperation is part of the Fashion Commission’s ongoing efforts to develop the fashion value chain through building strategic partnerships with specialized training and education entities, expanding professional opportunities for national talent, and linking education and training outputs with labor-market needs.

Through their partnership, the commission and the academy will help in building an integrated ecosystem that connects education, vocational qualification, and employment, bolstering the competitiveness of the fashion and retail sectors and supporting the objectives of Saudi Vision 2030 in empowering national cadres, localizing jobs, and improving quality of life.

Fashion

Saudi 100 Brands Debuts Landmark Fashion Presentation at Saudi Cup 2026

The experience introduced global audiences to Saudi Arabia’s dynamic and growing fashion ecosystem - SPA
The experience introduced global audiences to Saudi Arabia’s dynamic and growing fashion ecosystem - SPA
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Saudi 100 Brands Debuts Landmark Fashion Presentation at Saudi Cup 2026

The experience introduced global audiences to Saudi Arabia’s dynamic and growing fashion ecosystem - SPA
The experience introduced global audiences to Saudi Arabia’s dynamic and growing fashion ecosystem - SPA

The Fashion Commission launched its Saudi 100 Brands showcase at the Saudi Cup 2026, marking a historic milestone for the world-renowned equestrian event at King Abdulaziz Racecourse in Riyadh.
The collections celebrate Saudi heritage by blending traditional and contemporary design. Jewelry and accessory brands also exhibited throughout, providing Saudi designers with a platform to reach a broader global audience. These showcases emphasize the fusion of heritage and modern design, offering a new perspective on the Kingdom's creative identity.
The Saudi 100 Brands program, a flagship initiative of the Fashion Commission, supports emerging designers by providing tools, expertise, and platforms to grow their global presence. This collaboration with the Saudi Cup underscores the importance of celebrating cultural heritage while advancing design innovation.

Each piece in the exhibition incorporates heritage motifs, textiles, and storytelling, reimagined through innovative design to appeal to modern and international audiences.

The exhibition aims to celebrate national identity, highlight local creative talent, and present the evolving direction of Saudi fashion, SPA reported.

Visitors explored the intersection of craftsmanship and cultural expression, discovering how designers honor tradition while advancing fashion design.

The experience also introduced global audiences to Saudi Arabia’s dynamic and growing fashion ecosystem.

This participation reflects the Fashion Commission’s vision to develop a thriving fashion sector rooted in cultural heritage and global ambition. By combining cultural narratives with innovative design, the commission enables Saudi fashion to contribute to global creative industries, nurture talent, and position Saudi brands for sustained success.

Fashion

L’Oreal Shares Sink as Sales Miss Forecasts 

This photo taken on February 16, 2018 shows a board with the L'Oreal logo outside of the L'Oreal plant, in Lassigny. (AFP)
This photo taken on February 16, 2018 shows a board with the L'Oreal logo outside of the L'Oreal plant, in Lassigny. (AFP)
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L’Oreal Shares Sink as Sales Miss Forecasts 

This photo taken on February 16, 2018 shows a board with the L'Oreal logo outside of the L'Oreal plant, in Lassigny. (AFP)
This photo taken on February 16, 2018 shows a board with the L'Oreal logo outside of the L'Oreal plant, in Lassigny. (AFP)

L'Oreal shares fell heavily on the Paris stock market on Friday after the cosmetics giant posted sales that fell short of analyst expectations, stoking fears of weakness for its luxury brands and in the key Chinese market.

While revenues rose seven percent in the fourth quarter in Europe -- still the company's biggest market -- they edged up just 0.7 percent in North America and fell five percent in North Asia, which includes China.

Overall, sales were up 1.5 percent to 11.2 billion euros ($13.3 billion) in the final quarter of 2025 -- usually when the company benefits from strong holiday-fueled buying.

This was a marked slowdown from the 4.5-percent growth seen the previous year.

On a like-for-like comparison that excludes the impact of currency fluctuations, sales rose six percent, whereas the consensus forecast was around eight percent, analysts said.

The luxury division (Luxe) in particular, which includes high-end perfumes and make-up and is L'Oreal's biggest by revenue, saw a 0.5-percent sales slide in the fourth quarter, to 4.2 billion euros.

"We think the miss, led by North Asia and Luxe, will be a concern amid a vague outlook," said David Hayes, an analyst at investment bank Jefferies.

L'Oreal's stock was down 3.2 percent in morning trading, partly recovering from a drop of more than six percent at the open.

Net profit for the full year was down 4.4 percent to 6.1 billion euros.

Chief executive Nicolas Hieronimus said when he presented the results on Thursday that L'Oreal had achieved a "solid" performance "despite a context that was at the very least volatile and unfavorable".

For 2026, he said the company had to be "cautious and humble", although he expected "the beauty market to continue its acceleration" unless there was "a new surprise".

"We're going to have to intensify our efforts in terms of innovation to energize the market and win over customers," he added.