Mayoral, a Spanish international textile corporation that owns the fashion brands Hug&Clau, Abel&Lula, Boston, and Mayoral for women, men, and children, has revealed its main financial indicators for the fiscal year 2024. The company, situated in Malaga, recorded a 7.5 per cent drop in sales.
The management of the company reported that Mayoral Group ended 2024 with US $ 399.42 million in sales. Compared to the US $ 431.81 million in income made the year before, this indicates a 7.5 per cent decrease. The management explained this decline by pointing to the decline in foreign wholesale sales, which is a result of rising uncertainty globally, that is becoming more complicated and inflation’s ongoing effect on consumer purchasing.
In terms of earnings, the business merely reported that earnings before interest and taxes (EBIT) stayed at 2023 levels in spite of the drop in sales; it did not reveal its net income for 2024. Measures taken to manage inventory, cut down on excess stock, and keep costs under control are responsible for this ongoing success.
Among the company’s 2024 main indicators, Mayoral Group spearheaded the expansion of its own retail network internationally by adding new stores in Italy, France, Portugal, Greece, Romania, and Mexico and making its first foray into Chile. The group expanded into other markets through franchising, including Austria, Malta, the Dominican Republic, and Venezuela.
The company ended the year with operations in 23 countries and a presence in over 9,000 points of sale globally, through both wholesale and retail channels, in addition to its sales numbers. A total of 2,200 workers in 100 countries support these operations.
As part of its internationalisation strategy, the company opened a subsidiary in Morocco at the start of 2025 with the goal of strengthening and growing its presence in the nation. The management has already set its sights on Iceland, Jordan, and the United Arab Emirates as potential new markets for growth in 2025, and this decision will be supported by plans to increase its footprint in Lebanon through franchising.
